Clark Center Forum

Anil K. Kashyap and Frederic S. Mishkin Wall Street Journal, November 9, 2009 Anil Kashyap and Frederic Mishkin discuss the Federal Reserve’s independence and the impact of  the Congressman Ron Paul’s bill (H. R. 1207).  They also explore an amendment that would mitigate the negative consequences of Congressman Paul’s bill. Read more> 

Christian Laux and Christian Leuz Fair-value accounting (FVA), also known as “mark-to-market” accounting, has been blamed for contributing significantly to the financial crisis. But Christian Leuz, of Chicago Booth, and his coauthor, Christian Laux, have analyzed the role of FVA for U.S. banks and conclude that there is no evidence that fair-value accounting added to […] 

Forbes.com, October 14th, 2009 In “Getting Back to Work,” Professor Steven J. Davis offers four proposals to foster job creation and reverse the steep rise in unemployment. Unlike proposals circulating in Washington, Professor Davis’s proposals won’t break the budget or raise tax burdens. Read article> 

September 25th, 2009 Thoughts from Anil Kashyap on priorities for financial system regulatory reform.  “Where do we go from here” are his remarks at the Federal Reserve Bank of Chicago’s 12th International Banking Conference September 25, 2009. Read remarks> 

Testimony of John Cochrane in “Experts‘ Perspectives on Systemic Risk and Resolution Issues“ before the House Financial Services Committee, United States House of Representatives – September 24, 2009 Read testimony spoken before Committee> Read testimony of record> 

John H. Cochrane and Luigi Zingales Wall Street Journal, September 15, 2009 One year ago today Lehman Brothers filed for bankruptcy. The weeks that followed are among the most dramatic in U.S. history. They led to a massive government intervention in the financial system—an intervention that will likely change that system forever. Many people say […] 

American Media’s Marketplace, September 10, 2009 Professor Luigi Zingales speaks with Marketplace’s host, Kai Ryssdal, about Lehman Brothers’ collapse last year and how the trust between Americans and the financial sector was destroyed, and what it will take to restore it. Listen to interview> 

Planet Money; NPR, Sept 10, 2009 The dramatic collapse of financial markets in the fall of 2008 captivated the world’s attention and sent the stock market reeling. But the collapse of financial markets was a symptom of a more troubling underlying condition: U.S. households dramatically increased their leverage, or debt, from 2001 to 2007. Our research suggests […] 

National Affairs The economic crisis of the past year, centered as it has been in the financial sector that lies at the heart of American capitalism, is bound to leave some lasting marks. Financial regulation, the role of large banks, and the relationships between the government and key players in the market will never be […] 

Economist.com How big an influence on spending is housing wealth? Hopes for a consumer revival in countries where house prices have slumped rest, in part, on the answer. A purist view is that the value of homes has no “wealth effect” on consumption. An increase in house prices only raises the future cost of shelter. […]