Clark Center Forum

Greek debt is in trouble—again. After a month of dickering, it seems likely that the International Monetary Fund and the European Union will agree to roll over Greece’s debt so bondholders will be paid in full. Why is Europe so terrified of letting bondholders bear some of the risk that comes with high yields? Read […] 

Although China has been churning out its share of unpleasant news, many onlookers don’t consider its problems as serious as those of other big economies. They should think again. China’s biggest economic challenges are political in nature and daunting, and will almost certainly get worse. That is because its autocratic system, for all the stability […] 

 

 

 

Improving education remains one of the clearest ways that governments can make a lasting positive economic impact. A well-functioning education system is the most effective way to help equip people with the knowledge and skills they need to boost incomes and compete in a globalized economy. The key to such a system is embracing the […] 

by Anil Kashyap and Takeo Hoshi Freakonomics Blog; March 22nd, 2011 On March 11, an earthquake of magnitude 9.0 hit the Pacific coast side of the Tohoku area in Japan. Subsequent aftershocks, tsunamis and breached safety mechanisms at nuclear plants in Fukushima have proven even more devastating than the earthquake itself. At this point, it […] 

by Takeo Hoshi and Anil Kashyap Wall Street Journal; March 9th, 2011 The Wall Street Journal asked eight prominent economists who follow Japan to critique the Bank of Japan’s monetary policy record, after BOJ Governor Masaaki Shirakawa gave an interview defending the central bank’s performance. Among the eight were the IGM’s Anil Kashyap and his […] 

Raghuram Rajan discusses the global financial crisis and his new book — Fault Lines: How Hidden Fractures Still Threaten the World Economy — on the Bloomberg on the Economy program. Listen now Part 1 and Part 2 

Was “fiscal stimulus” the central idea that saved us from a second great depression, with our only regret that is was not bigger? Or is this an old fallacy, tried and failed, and ready finally for the ash-heap of history? Read more>