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| financial summit jackson hole: Financial Regulation Ester Faia, Andreas Hackethal, Michael Haliassos, Katja Langenbucher, 2015-08-14 An assessment of the current state and future prospects of financial regulation in Europe. |
| financial summit jackson hole: The G-20 Summit at Five Kemal Dervis, Peter Drysdale, 2014-07-18 Can the G-20 become a steering committee for the world's economy? Launched at a moment of panic triggered by the financial crisis in late 2008, the leaders' level G-20 is trying to evolve from crisis committee for the world economy to a real steering group facilitating international economic cooperation. What can and should such a steering committee focus on? How important could the concrete gains from cooperation be? How much faster could world growth be? Is there sufficient legitimacy in the G-20 process? How does the G-20 relate to the IMF and the World Bank? How can Australia in 2015, and then Turkey in 2016, chair the process so as to encourage strategic leadership? The East Asian Bureau of Economic Research in the Crawford School of Public Policy at the Australian National University and the Global Economy and Development program at the Brookings Institution joined forces in putting together this volume and asked opinion leaders and policymakers from G-20 countries to provide their independent perspectives. Contributors include Colin Bradford (Brookings), Peter Drysdale (Australian National University), Kemal Dervis (Brookings), Andrew Elek (Australian National University), Ross Garnaut (University of Melbourne), Huang Yiping (China Center for Economic Research), Bruce Jones (Brookings), Muneesh Kapur (IMF), Homi Kharas (Brookings), Wonhyuk Lim (Korea Development Institute), Rakesh Mohan (IMF), David Nellor (consultant, Indonesia), Yoshio Okubo (Japan Securities Dealers Association), Mari Pangestu (Republic of Indonesia), Changyong Rhee (former Asian Development Bank), Alok Sheel (Government of India), Mahendra Siregar (Republic of Indonesia), Paola Subacchi (Chatham House, London), Carlos Vegh (Brookings), Guillermo Vuletin (Brookings), and Maria Monica Wihardja (World Bank). |
| financial summit jackson hole: The Global Financial Crisis and Its Aftermath A. G. Malliaris, Leslie Shaw, Hersh Shefrin, 2016 Introduction -- The global financial crisis of 2007-09 : an overview of neglected ideas from economics, psychology, and values / A.G. Malliaris, Leslie Shaw, and Hersh Shefrin -- The global financial crisis of 2007-09 and economics -- From asset price bubbles to liquidity traps / A.G. Malliaris -- A minsky meltdown: lessons for central bankers / Janet Yellen -- Modeling financial instability / Steve Keen -- Assessing the contribution of hyman minsky's perspective to our understanding of economic instability / Hersh Shefrin -- The Great Recession of 2008-09 and its impact on unemployment / John Silvia -- Mathematical definition, mapping, and detection of (anti)fragility / Nassim Taleb and Rafael Douady -- The global financial crisis of 2007-09 and psychology -- The varieties of incentive experience / Robert Kolb -- Goals and the organization of choice under risk in both the long run and the short run / Lola Lopes -- Topology of greed and fear / Graciela Chichilnisky -- A sustainable understanding of instability in minds and in markets / Leslie Shaw -- Existence of monopoly in the stock market : a model of information-based manipulation / Viktoria Dalko, Lawrence R. Klein, S. Prakash Sethi, and Michael Wang -- Crisis of authority / Werner DeBondt -- Social structure, power, and financial fraud / Brooke Harrington -- The global financial crisis of 2007-09 and values -- Economics, self psychology, and ethics : why modern economic persons cheat and how self psychology can provide the basis for a trustworthy economic world / John Riker -- Finance professionals in the market for status / Meir Statman -- Why risk management failed: ethical and behavioral explanations / John Boatright -- The global financial crisis and social justice : the crisis seen through the lens of Catholic social doctrine / Paul Fitzgerald, S.J -- The moral benefits of financial crises: a virtue ethics perspective / John Dobson -- Three ethical dimensions of the financial crisis / Antonio Argandonan -- Epilogue -- Lessons for future financial stability / A.G. Malliaris, Leslie Shaw, and Hersh Shefrin |
| financial summit jackson hole: Emerging Market Economies and Financial Globalization Leonardo E. Stanley, 2018-03-15 In the past, foreign shocks arrived to national economies mainly through trade channels, and transmissions of such shocks took time to come into effect. However, after capital globalization, shocks spread to markets almost immediately. Despite the increasing macroeconomic dangers that the situation generated at emerging markets in the South, nobody at the North was ready to acknowledge the pro-cyclicality of the financial system and the inner weakness of “decontrolled” financial innovations because they were enjoying from the “great moderation.” Monetary policy was primarily centered on price stability objectives, without considering the mounting credit and asset price booms being generated by market liquidity and the problems generated by this glut. Mainstream economists, in turn, were not majorly attracted in integrating financial factors in their models. External pressures on emerging market economies (EMEs) were not eliminated after 2008, but even increased as international capital flows augmented in relevance thereafter. Initially economic authorities accurately responded to the challenge, but unconventional monetary policies in the US began to create important spillovers in EMEs. Furthermore, in contrast to a previous surge in liquidity, funds were now transmitted to EMEs throughout the bond market. The perspective of an increase in US interest rates by the FED is generating a reversal of expectations and a sudden flight to quality. Emerging countries’ currencies began to experience higher volatility levels, and depreciation movements against a newly strong US dollar are also increasingly observed. Consequently, there are increasing doubts that the “unexpected” favorable outcome observed in most EMEs at the aftermath of the Global Financial Crisis (GFC) would remain. |
| financial summit jackson hole: Stress Test Timothy F. Geithner, 2014-05-12 New York Times Bestseller Washington Post Bestseller Los Angeles Times Bestseller Stress Test is the story of Tim Geithner’s education in financial crises. As president of the Federal Reserve Bank of New York and then as President Barack Obama’s secretary of the Treasury, Timothy F. Geithner helped the United States navigate the worst financial crisis since the Great Depression, from boom to bust to rescue to recovery. In a candid, riveting, and historically illuminating memoir, he takes readers behind the scenes of the crisis, explaining the hard choices and politically unpalatable decisions he made to repair a broken financial system and prevent the collapse of the Main Street economy. This is the inside story of how a small group of policy makers—in a thick fog of uncertainty, with unimaginably high stakes—helped avoid a second depression but lost the American people doing it. Stress Test is also a valuable guide to how governments can better manage financial crises, because this one won’t be the last. Stress Test reveals a side of Secretary Geithner the public has never seen, starting with his childhood as an American abroad. He recounts his early days as a young Treasury official helping to fight the international financial crises of the 1990s, then describes what he saw, what he did, and what he missed at the New York Fed before the Wall Street boom went bust. He takes readers inside the room as the crisis began, intensified, and burned out of control, discussing the most controversial episodes of his tenures at the New York Fed and the Treasury, including the rescue of Bear Stearns; the harrowing weekend when Lehman Brothers failed; the searing crucible of the AIG rescue as well as the furor over the firm’s lavish bonuses; the battles inside the Obama administration over his widely criticized but ultimately successful plan to end the crisis; and the bracing fight for the most sweeping financial reforms in more than seventy years. Secretary Geithner also describes the aftershocks of the crisis, including the administration’s efforts to address high unemployment, a series of brutal political battles over deficits and debt, and the drama over Europe’s repeated flirtations with the economic abyss. Secretary Geithner is not a politician, but he has things to say about politics—the silliness, the nastiness, the toll it took on his family. But in the end, Stress Test is a hopeful story about public service. In this revealing memoir, Tim Geithner explains how America withstood the ultimate stress test of its political and financial systems. |
| financial summit jackson hole: Bernanke's Test Johan, 2009-03-01 The consensus on Alan Greenspan's performance as Fed chair used to be extremely positive, but more and more it's been called into question. Now, 2008 has seen Ben Bernanke in the eye of a storm that was created largely during Greenspan's tenure. His management of the bubble of all bubbles will be a decisive factor in whether this crisis will be limited in its impact on the real economy or whether it directly leads to a major recession. This is Bernanke's Test. In examining the challenges facing Bernanke, author Johan Van Overtveldt reviews Greenspan's long record as Fed chair, as well as Ben Bernanke's career as an economist prior to replacing Greenspan. The book offers much-needed historical context by exploring the role and reach of the central banker, and how former Fed chairmen — Benjamin Strong, William McChesney Martin, Arthur Burns, and especially Paul Volcker — dealt with the same complex issues Bernanke faces today. |
| financial summit jackson hole: The Arc Tory Henwood Hoen, 2022-02-08 A thoroughly modern love story with an old-fashioned heart. ––Vogue “Sure to satisfy fans of Taylor Jenkins Reid and Sally Rooney.” ––E! Online Funny and modern, The Arc is like a rom-com’s cooler big sister. ––Real Simple Can you curate your soulmate? Thirty-five-year-old Ursula Byrne, VP of Strategic Audacity at a branding agency in Manhattan, is successful, witty, whip-smart, and single. She’s tried all the dating apps, and let’s just say: she’s underwhelmed by her options. You’d think that by now someone would have come up with something more bespoke; a way for users to be more tailored about who and what they want in a life partner––how hard could that be? Enter The Arc: a highly secretive, super-sophisticated matchmaking service that uses a complex series of emotional, psychological and physiological assessments to architect partnerships that will go the distance. The price tag is high, the promise ambitious––a level of lifelong compatibility that would otherwise be unattainable. In other words, The Arc will find your ideal mate. Ursula is paired with forty-two-year-old lawyer Rafael Banks. From moment one, this feels like the electric, lasting love they’ve each been seeking their whole adult lives. But as their relationship unfolds in unanticipated ways, the two begin to realize that true love is never a sure thing. And the arc of a relationship is never predictable...even when it's fully optimized. |
| financial summit jackson hole: Shadow Banking Anastasia Nesvetailova, 2017-08-07 Shadow banking – a system of credit creation outside traditional banks – lies at the very heart of the global economy. It accounts for over half of global banking assets, and represents a third of the global financial system. Although the term ‘shadow banking’ only entered public discourse in 2007, the importance and scope of this system is now widely recognised by the international policy-makers. There is, however, much less consensus on the origins of the shadow banking system, what role it plays in global political economy and the optimal approach to regulating this complex segment of finance. This volume addresses these questions. Shadow Banking is the first study to bring together the insights from financial regulators, practitioners and academics from across the social sciences. The first part traces the evolution and ongoing confusion about the meaning of ‘shadow banking’. The second section draws major lessons about shadow banking as posed by the financial crisis of 2007–09, providing comparative analyses in the US and Europe, and attempts to establish why shadow banking has emerged and matured to the level of a de facto parallel financial system. Finally, the third part goes beyond current regulatory concerns about shadow banking and explains why it is ‘here to stay’. This volume is of great importance to political economy, banking and international political economy. |
| financial summit jackson hole: The Financial Development Report 2008 , 2008 |
| financial summit jackson hole: The New Public Finance Inge Kaul, Pedro Conceicao, 2006-02-23 The world's agenda of international cooperation has changed. The conventional concerns of foreign affairs, international trade, and development assistance, are increasingly sharing the political center stage with a new set of issues. These include trans-border concerns such as global financial stability and market efficiency, risk of global climate change, bio-diversity conservation, control of resurgent and new communicable diseases, food safety, cyber crime and e-commerce, control of drug trafficking, and international terrorism and weapons of mass destruction. Globalization and increasing porosity of national borders have been key driving forces that have led to growing interdependence and interlocking of the public domains--and therefore, public policy concerns--of countries, governments, private businesses, civil society, and people at large. Thus, new and different issues are now occupying top places on national policy agendas, and consequently, on the agendas of international negotiating forums. The policy approaches to global challenges are also changing. A proliferation and diversification of international cooperation efforts include focus on financing arrangements. Financing of international cooperation in most instances is a haphazard and non-transparent process and often seems to run parallel to international negotiations. There are many unfunded mandates and many-non-mandatory funds. To agree on and to achieve international economic goals, we need to understand how financing of international cooperation efforts actually works. Our understanding is hampered by two gaps: 1) lack of an integrated and cohesive theoretical framework; 2) lack of consolidated empirical and operational knowledge in the form of a comprehensive inventory of past, current and possible future (i.e. currently deliberated) financing mechanisms. This book reduces these two gaps and provides a guide to improve our ability to finance international cooperation. |
| financial summit jackson hole: In the Footsteps of Giorgio Philip Szegö Rita Laura D'Ecclesia, Rosella Castellano, Giovanni M. Zambruno, 2023-10-14 This book offers essential information on the life and career of the recently deceased Giorgio P. Szegö, particularly his important contributions in various areas of mathematical programming and applications to financial markets. It highlights the developments in the fields of stability theory and dynamical systems brought about by his work in the early 1960s and 1970s, then moves on to address his valuable contributions to portfolio theory in the late 1970s and early 1980s, and, finally, examines his work in the field of risk management and the role of financial regulation in the late 1990s. The book explores Giorgio P. Szegö’s contributions in diverse research areas ranging from global optimization, theory of stability and dynamical systems to applications of financial mathematics to portfolio theory, risk measurement and financial regulation. It also covers his consulting work for such major international institutions as the IMF, World Bank and OECD. |
| financial summit jackson hole: Regulating Financial Derivatives Alexandra G. Balmer, 2018-06-29 This book puts forward a holistic approach to post-crisis derivatives regulation, providing insight into how new regulation has dealt with the risk that OTC derivatives pose to financial stability. It discusses the implications that post crisis regulation has had on central counterparties and the risk associated with clearing of OTC derivatives. The author offers a novel solution to tackle the potential negative externalities from the failure of a central counterparty and identifies potential new risks arising from post crisis reforms. |
| financial summit jackson hole: The Group of Seven Andrew Baker, 2006-05-09 We are now in the era of the G8, although the G7 still exists as a grouping for Finance Ministers. Why do G7 finance ministries and central banks co-operate? What are the implications of this co-operation for US power and the abilities of the other six states to exercise leadership? What role do the G7 play in global financial governance? How much authority do they possess and how is that authority exercised? This is the first major monograph on the political economy of G7 finance ministry and central bank co-operation. It argues that to understand the contribution of the G7 to global financial governance it is necessary to locate the process in the context of a wider world financial order comprised of decentralized globalization. It also provides original case study material on the G7’s contribution to macroeconomic governance and to debates on the global financial architecture over the last decade. It assesses the G7’s role in producing a system of global financial governance based on market supremacy and technocratic transgovernmental consensus and articulates normative criticisms of the G7’s exclusivity. For researchers in the fields of IR/IPE generally, postgraduate students in the field of international organization and global governance, policy makers and financial journalists this is the most extensive analysis of the G7 and the political economy of global financial governance to date. |
| financial summit jackson hole: The Future of Money Mary Mellor, 2010-05-15 As the recent financial crisis has revealed, the state is central to the stability of the money system, while the chaotic privately-owned banks reap the benefits without shouldering the risks. This book argues that money is a public resource that has been hijacked by capitalism. Mary Mellor explores the history of money and modern banking, showing how finance capital has captured bank-created money to enhance speculative leveraged profits as well as destroying collective approaches to economic life. Meanwhile, most individuals, and the public economy, have been mired in debt. To correct this obvious injustice, Mellor proposes a public and democratic future for money. Ways are put forward for structuring the money and banking system to provision societies on an equitable, ecologically sustainable sufficiency basis. This fascinating study of money should be read by all economics students looking for an original analysis of the economy during the current crisis. |
| financial summit jackson hole: Tech Impact. The lights and shadows of technological development Gianmarco Montanari, 2020-01-02 Macrotrend of our present: instructions for use. We live in the age of endless change. Technological innovations are profoundly and irreversibly affecting our everyday life. Progress seems somehow to subvert individual and collective parametres in such a way that often we tend to ask ourselves what we can do for machines more than what they can do for us. In these pages the author shares a participating and curious gaze to the deep changes of our times, with the ongoing tension to draw together the scattered pieces of information left by our uncertain present and to gain new keys to interpretation. From the new technologies of AI and ubiquitous computing to the growing issues of international security , from the so called Fourth Industral Revolution to the new paradigm of the sharing economy, from the role of the technological mammoths in the new world order to the changes in the labour market and the increasing societal inequality: a bunch of burning issues are here addressed both with intellectual commitment and conversational levity, with the aim to foster public debate and awareness and to help present day and future leaders to shape new policies, both at business and governamental level. |
| financial summit jackson hole: The Money Trap R. Pringle, 2012-06-07 The world economy is caught in a money trap. Existing monetary arrangements meet the needs neither of the ageing societies of the West nor of younger emerging economies. This in-depth analysis explains how the world got into the grip of global finance - and how it can escape, with a growing demand for reform. |
| financial summit jackson hole: Monetary Policy in Interdependent Economies Ioanna T. Kokores, 2023-10-04 This book explores the challenges faced by central banks in the aftermath of the global financial crisis and the events that followed. It further emphasises the asymmetries in the transmission of monetary policy in the Eurozone economies and among major advanced economies. The book also highlights the advances in the monetary policy debate towards an efficient resource allocation. The author argues that the canonical model of macroeconomic stabilization, which assigns the main burden of stabilization to monetary policy, is outdated primarily because of the absence of financial frictions. Further, she highlights the urgency of pushing risky activities outside the perimeters of regulation in face of rapidly evolving financial markets. The book provides an analytical framework in the context of intense globalisation and increased interdependence across economies, irrespective of the recent re-examining of supply-chains and trade relationships, as well as a policy framework thoroughly amended after the global financial crisis and the crises that followed it. Presenting policy proposals, the book discusses how policymakers must try to develop a set of policies that the public will have confidence in and take into account in forming expectations about future inflation and spending. It will be useful to central banking practitioners, monetary and fiscal policymakers, as well as students and scholars in economics and, in particular, financial economics. |
| financial summit jackson hole: Rethinking Regulation of International Finance Uzma Ashraf Barton, 2016-04-24 Why have financial standards and institutions almost always failed to effectively predict and respond to real-world financial crises? The answer, this challenging book shows, is that international financial law suffers from a persistent lack of judicial or quasi-judicial enforcement mechanisms, leaving flaws in the structure of the international financial system that lead inevitably to excesses that threaten the public good of global financial stability. The author, an internationally renowned legal expert on financial and fiscal reforms, responds to the increasingly urgent call for rethinking the structure and the functioning of international financial law. Centering on the concept of enforcement – which continues to be an unresolved issue in the discipline of international financial law – the analysis describes the likely contours of hard-law regulatory reform. It weighs the pros and cons of much-talked-about regulatory and policy issues like the following and more: – policy implications from the transformation of finance from a domestic to an international concept; – new or revised supervisory and regulatory bodies with redefined mandate, jurisdictions and powers; – possibility of a treaty-based structure similar to the European Union’s integration framework; and – consolidation of crisis-prevention and crisis-management policies; The analysis takes into account instances from trade and monetary systems pertinent to the development of the discipline of international financial law. A concluding chapter explores possibilities for putting in place an asset-backed resilient financial system based on risk-sharing and empowered to legislate reform and authorized to seek compliance from its members. With its provision of unconventional alternatives for further development of international financial law to realize stable, predictable and robust international markets – including early-warning systems and fully primed crisis-prevention mechanisms – the book explores the essential link between global financial stability, effective regulation and institutional development that will engender realistic global policy solutions. It will prove to be of great importance to regulatory and legal practitioners as well as to academic and think-tank scholars. |
| financial summit jackson hole: Asian Financial Integration Yiping Huang, Shiro Armstrong, 2014-03-05 In the wake of the global financial crisis, Asia is leading the global recovery with strong economic growth. However, this book argues that, in the coming years, the region will need to play a much more active role in shaping the future global financial system and, in turn, suggests policy strategies for doing so. Asian Financial Integration explores the lessons we can learn from Asia’s experience during the global financial crisis in terms of the future direction of the region’s economic policy and the challenges posed by the opening and deepening of its financial markets. The contributors deal with a number of crucial questions, including what Asia should learn from the crisis, especially with regards to financial innovation and regulation; whether global imbalances are a result of policy distortions or a natural outcome of global division of labour; what are the lessons and implications from the financial market reform and liberalization experiences of some of the region’s major economies; and what should Asia do to promote regional financial integration, particularly with regards to currency integration. This book will be welcomed by students and scholars interested in Asian economics and international economics, as well as by policy-makers working in the field. |
| financial summit jackson hole: Governance of Global Financial Markets Emilios Avgouleas, 2012-04-26 Analyses governance structures for international finance, evaluates current regulatory reforms and proposes a new governance system for global financial markets. |
| financial summit jackson hole: Emerging Issues in Financial Development Tatiana Didier, Sergio L. Schmukler, 2013-12-17 This book synthesizes the results of a comprehensive analysis of the status, prospects, and challenges of sustainable financial development in Latin America, as well as the lessons for developed and developing countries. |
| financial summit jackson hole: Financial Globalization D. Das, 2010-07-16 The recent crisis has redrawn attention to financial globalization. Dilip Das examines under what circumstances it can be welfare-enhancing and lead to rapid economic growth. Written in an accessible style, the book gives the latest insights on the topic. |
| financial summit jackson hole: Independent Evaluation at the IMF Ruben Lamdany, Ms.Hali J. Edison, 2012-12-24 This volume examines how independent evaluation contributes to the legitimacy and effectiveness of the IMF. It describes the evolution and impact of the Independent Evaluation Office ten years after its creation as well as the challenges it has faced. It also incorporates feedback from a wide range of internal and external actors and offers useful insights for international organizations, academics, and other global stakeholders. |
| financial summit jackson hole: The Handbook of the Political Economy of Financial Crises Martin H. Wolfson, Gerald A. Epstein, 2013-01-07 The Great Financial Crisis that began in 2007 reminds us with devastating force that financial instability and crises are endemic to capitalist economies, and that it is only strong and dynamically-changing financial regulations that can keep the damage caused by these crises within bounds. The international financial system and individual national economies, including that of the United States, are suffering from the aftermath of the worst financial crisis since the Great Depression. Economists are struggling to understand the origins and implications of the crisis. The Handbook of the Political Economy of Financial Crises uses a political economy theoretical framework to analyze the crisis. After an opening chapter that describes the dimensions of the current crisis, the next section provides relevant theoretical frameworks. Subsequent sections apply these theoretical frameworks to analyze the background, dimensions, and implications of the crisis for the world economy. Leading scholars push forward our understanding of how and why our international and domestic economies are susceptible to financial breakdown and what can be done to mitigate this problem in the future. The methodology throughout applies theoretical concepts in the context of an historical and institutional understanding of the real world. By emphasizing the historical and institutional aspects of financial crises, the authors advance economic knowledge and provide insights into how we can manage our financial system to improve the lives of ordinary people. |
| financial summit jackson hole: Economic Policies for Sustainability and Resilience Philip Arestis, Malcolm Sawyer, 2021-11-16 This book explores the issues caused by climate change and environmental degradation, alongside the economic policies that can help secure an environmentally sustainable future. Through examining sustainability and resilience, the neoliberal globalised trading system and recent economic policies are questioned to inquire into whether capitalist economies are compatible with addressing climate change. Prolonged economic growth, forms of ownership, economic equality, the global ecosystem, universal basic services, the Green New Deal, and inclusive growth, are also discussed. Economic Policies for Sustainability and Resilience aims to provide policy options to develop sustainable and resilient market economies. It will be relevant to students, researchers, and policymakers interested in the political economy, environment economics, and economic policy. |
| financial summit jackson hole: Crisis and Reform Rohinton P. Medhora, Dane Rowlands, 2016-10-17 The financial crisis that erupted in 2008 severely affected the global economy, plunging most countries into a recession with aftershocks still being felt today. Canada was able to weather the crisis well in comparison to many euro-zone countries and the United States, but it did not escape unscathed. Two major themes are explored in this volume: Canada’s role in the international financial system and the Canadian policy response to the global financial crisis. These themes are examined in light of the shift from the classical gold standard to Bretton Woods to the “non-system” of late, the finance-trade crossover agenda, the changing role of central banks, the European Monetary Union, developing countries and a post-financial crisis global political economy. What becomes clear in this volume is that Canada plays a powerful role, which belies its size, in the development of the financial system and its regulation at an international level. Crisis and Reform: Canada and the International Financial System — the 28th volume of the influential Canada Among Nations series — examines the global financial crisis through Canada’s historical and current role in the international financial system. Canada has been held up as a shining example of good governance during the financial crisis, and its prominent role within international financial institutions should grow as Canada continues as a leading player in the global financial system. |
| financial summit jackson hole: Global Asset Management M. Pinedo, I. Walter, 2013-08-29 This book focuses on all major aspects of the asset management industry including its regulations, strategies, processes, applied technologies and risks. It provides a serious resource for readers seeking greater depth and alternative opinions on specific industry developments, and breadth for specialists interested in the dynamics of the industry. |
| financial summit jackson hole: The Future of US Global Power S. Brown, 2012-12-14 Dispelling the myth of decline, Stuart Brown argues that the US continues to enjoy the economic, political, cultural and military underpinnings befitting a pre-eminent global power. He provides an analytical tour through the major domestic and foreign policy issues that will impact the United States' future position and role in the global system. |
| financial summit jackson hole: Principles of Banking Law Ross Cranston, Emilios Avgouleas, Kristin van Zwieten, Christopher Hare, Theodor Van Sante, 2018 This third edition of the Principles of Banking Law provides an authoritative treatment of both domestic and international banking law. This edition contains expanded coverage of developments in other comparable jurisdictions, internet banking services and money laundering. |
| financial summit jackson hole: Banking on the Future Howard Davies, David W. Green, 2010-04-12 An inside look at the role and future of central banking in the global economy The crash of 2008 revealed that the world's central banks had failed to offset the financial imbalances that led to the crisis, and lacked the tools to respond effectively. What lessons should central banks learn from the experience, and how, in a global financial system, should cooperation between them be enhanced? Banking on the Future provides a fascinating insider's look into how central banks have evolved and why they are critical to the functioning of market economies. The book asks whether, in light of the recent economic fallout, the central banking model needs radical reform. Supported by interviews with leading central bankers from around the world, and informed by the latest academic research, Banking on the Future considers such current issues as the place of asset prices and credit growth in anti-inflation policy, the appropriate role for central banks in banking supervision, the ways in which central banks provide liquidity to markets, the efficiency and cost-effectiveness of central banks, the culture and individuals working in these institutions, as well as the particular issues facing emerging markets and Islamic finance. Howard Davies and David Green set out detailed policy recommendations, including a reformulation of monetary policy, better metrics for financial stability, closer links with regulators, and a stronger emphasis on international cooperation. Exploring a crucial sector of the global economic system, Banking on the Future offers new ideas for restoring financial strength to the foundations of central banking. |
| financial summit jackson hole: The Political Economy of Monetary Solidarity Waltraud Schelkle, 2017 Creating the European monetary union between diverse and unequal nation states is arguably one of the biggest social experiments in history. This book offers an explanation of how the euro experiment came about and was sustained despite a severe crisis, and provides a comparison with the monetary-financial history of the US. The euro experiment can be understood as risk-sharing through a currency that is issued by a supranational central bank. A single currency shares liquidity risks by creating larger markets for all financial assets. A single monetary policy responds to business cycles in the currency area as a whole rather than managing the path of one dominant economy. Mechanisms of risk-sharing become institutions of monetary solidarity if they are consciously maintained, but they will periodically face opposition in member states. This book argues that diversity of membership is not an economic obstacle to the success of the euro, as diversity increases the potential gains from risk sharing. But political cooperation is needed to realize this potential, and such cooperation is up against collective action problems which become more intractable as the parties become more diverse. Hence, risk-sharing usually comes about as a collective by-product of national incentives. This political-economic tension can explain why the gains from risk-sharing are not more fully exploited, both in the euro area and in the US dollar area. This approach to monetary integration is based on the theory of collective action when hierarchy is not available as a solution to inter-state cooperation. The theory originates with Keohane and Ostrom (1995) and it is applied in this book, taking into account the latest research on the inherent instability of financial market integration. |
| financial summit jackson hole: Central Banking at a Crossroads Charles Goodhart, Daniela Gabor, Jakob Vestergaard, Ismail Ertürk, 2014-12-01 This book reflects on the innovations that central banks have introduced since the 2008 collapse of Lehman Brothers to improve their modes of intervention, regulation and resolution of financial markets and financial institutions. Authors from both academia and policy circles explore these innovations through four approaches: ‘Bank Capital Regulation’ examines the Basel III agreement; ‘Bank Resolution’ focuses on effective regimes for regulating and resolving ailing banks; ‘Central Banking with Collateral-Based Finance’ develops thought on the challenges that market-based finance pose for the conduct of central banking; and ‘Where Next for Central Banking’ examines the trajectory of central banking and its new, central role in sustaining capitalism. |
| financial summit jackson hole: Shaping a New International Financial System Karl Kaiser, John J. Kirton, 2019-06-26 This title was first published in 2000: An outstanding volume which examines the professional economic merits, practical feasibility, and underlying politics of the hotly contested competing initiatives for strengthening the international financial system. Challenging much of the conventional wisdom, it offers a comprehensive account of the traditional enduring financial issues facing the G7 and the fundamental architectural elements of the new systemic design. This authoritative text contains a rich and balanced array of contributions from distinguished experts from all G7 countries and from emerging markets outside. Essential reading for academics in the areas of economics and management, to political scientists specializing in international political economy and to officials in the government and the private sector. |
| financial summit jackson hole: Progress and Confusion Olivier Blanchard, Raghuram Rajan, Kenneth Rogoff, Lawrence H. Summers, 2016-04-22 Leading economists consider the shape of future economic policy: will it resume the pre-crisis consensus, or contend with the post-crisis “new normal”? What will economic policy look like once the global financial crisis is finally over? Will it resume the pre-crisis consensus, or will it be forced to contend with a post-crisis “new normal”? Have we made progress in addressing these issues, or does confusion remain? In April of 2015, the International Monetary Fund gathered leading economists, both academics and policymakers, to address the shape of future macroeconomic policy. This book is the result, with prominent figures—including Ben Bernanke, John Taylor, and Paul Volcker—offering essays that address topics that range from the measurement of systemic risk to foreign exchange intervention. The chapters address whether we have entered a “new normal” of low growth, negative real rates, and deflationary pressures, with contributors taking opposing views; whether new financial regulation has stemmed systemic risk; the effectiveness of macro prudential tools; monetary policy, the choice of inflation targets, and the responsibilities of central banks; fiscal policy, stimulus, and debt stabilization; the volatility of capital flows; and the international monetary and financial system, including the role of international policy coordination. In light of these discussions, is there progress or confusion regarding the future of macroeconomic policy? In the final chapter, volume editor Olivier Blanchard answers: both. Many lessons have been learned; but, as the chapters of the book reveal, there is no clear agreement on several key issues. Contributors Viral V. Acharya, Anat R. Admati, Zeti Akhtar Aziz, Ben Bernanke, Olivier Blanchard, Marco Buti, Ricardo J. Caballero, Agustín Carstens, Jaime Caruana, J. Bradford DeLong, Martin Feldstein, Vitor Gaspar, John Geanakoplos, Philipp Hildebrand, Gill Marcus, Maurice Obstfeld, Luiz Awazu Pereira da Silva, Rafael Portillo, Raghuram Rajan, Kenneth Rogoff, Robert E. Rubin, Lawrence H. Summers, Hyun Song Shin, Lars E. O. Svensson, John B. Taylor, Paul Tucker, José Viñals, Paul A. Volcker |
| financial summit jackson hole: Secretary-General's Report to Ministers 2015 OECD, 2015-06-08 |
| financial summit jackson hole: IMF Survey International Monetary Fund, 2006 |
| financial summit jackson hole: Managing Complexity Tanim Bayoumi, Stephen Pickford, Paola Subacchi, 2016-01-05 A critical look at the challenges facing international policy cooperation in the new postcrisis environment. The global financial crisis of 2007–09 highlighted the economic interdependencies between all major countries, raising the issues of international cooperation. Managing Complexity: Economic Policy Cooperation after the Crisis looks at how, following the global financial crisis, countries have changed the way they cooperate with each other on matters of economic policy. In this volume, the result of a joint research project of Chatham House and the International Monetary Fund, researchers and policymakers who were directly involved in the crisis take a critical look at the challenges facing international policy cooperation in the new postcrisis environment and at how the theory and practice of cooperation have evolved as a result of the crisis. |
| financial summit jackson hole: International Macroeconomics in the Wake of the Global Financial Crisis Laurent Ferrara, Ignacio Hernando, Daniela Marconi, 2018-06-13 This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions. |
| financial summit jackson hole: The Shifts and the Shocks Martin Wolf, 2014-09-04 In The Shifts and the Shocks, Martin Wolf - one of the world's most influential economic commentators and author of Why Globalization Works - presents his controversial and highly original analysis of the economic course of the last seven years There have been many books that have sought to explain the causes and courses of the financial and economic crisis which began in 2007-8. The Shifts and the Shocks is not another detailed history of the crisis, but the most persuasive and complete account yet published of what the crisis should teach us us about modern economies and economics. The book identifies the origin of the crisis in the complex interaction between globalization, hugely destabilizing global imbalances and our dangerously fragile financial system. In the eurozone, these sources of instability were multiplied by the tragically defective architecture of the monetary union. It also shows how much of the orthodoxy that shaped monetary and financial policy before the crisis occurred was complacent and wrong. In doing so, it mercilessly reveals the failures of the financial, political and intellectual elites who ran the system. The book also examines what has been done to reform the financial and monetary systems since the worst of the crisis passed. 'Are we now on a sustainable course?' Wolf asks. 'The answer is no.' He explains with great clarity why 'further crises seem certain' and why the management of the eurozone in particular 'guarantees a huge political crisis at some point in the future.' Wolf provides far more ambitious and comprehensive plans for reform than any currently being implemented. Written with all the intellectual command and trenchant judgement that have made Martin Wolf one of the world's most influential economic commentators, The Shifts and the Shocks matches impressive analysis with no-holds-barred criticism and persuasive prescription for a more stable future. It is a book no-one with an interest in global affairs will want to neglect. MARTIN WOLF is Associate Editor and Chief Economics Commentator at the Financial Times, London. He is the recipient of many awards for financial journalism, for which he was also made a CBE in 2000. His previous books include Why Globalization Works and Fixing Global Finance. We have been inundated with books about the 'financial' aspects of the crisis. There have also been many books about specific institutions or memoirs by retired policy-makers. We need something different. There are two dimensions of the crisis that have received surprisingly little treatment. One is the link between developments in the macro-economy and the behaviour of the financial sector. The other is the global dimension of the crisis. Both these lie at the heart of Martin Wolf's analysis of the causes of the crisis and of his proposals to reduce the risk of another crisis. For these two reasons this is an important book that will be influential. Most important of all, it is in my view the right analysis and remedy Mervyn King To think straight about the causes and solutions of the financial crisis we must reject orthodox assumptions that more finance and global financial integration are limitlessly beneficial. The Shifts and the Shocks does just that, providing an intellectually sparkling and vital account of why the crisis occurred, and of the radical reforms needed if we are to avoid a future repeat Adair Turner Martin Wolf is unsurpassed in the world of economic journalists. His superb book may be the best of all those spawned by the Great Recession. It is analytical and rigorous without ever succumbing to fatalism or complacency Lawrence Summers |
| financial summit jackson hole: Complexity and Crisis in the Financial System Matthew Hollow, Folarin Akinbami, Ranald Michie, 2016-01-29 What are the long-term causes and consequences of the global financial crisis of 2007–2008? This book offers a fresh perspective on these issues by bringing together a range of academics from law, history, economics and business to look in more depth at the changing relationships between crises and complexity in the US and UK financial markets. The contributors are motivated by three main questions: • Is the present financial system more complex than in the past and, if so, why? • To what extent, and in what ways, does the worldwide financial crisis of 2007–2008 differ from past financial crises? • How can governments, regulators and businesses better manage and deal with increased levels of complexity both in the present and in the future? Students and scholars of finance, economics, history, financial law, banking and international business will find this book to be of interest. It will also be of use to regulators and policymakers involved in the US and UK banking sectors. |
The Kansas City Fed’s Jackson Hole Economic Policy Symposium
the longest-standing central banking conferences, bringing together economists, financial market participants, academics, U.S. government representatives and news media to discuss key long …
Calendar of Confirmed 2025 Conferences - Stifel
All conferences are for current clients of Stifel and are by invitation only. Invitations are non-transferable. For more information, please contact your Stifel representative.
Key takeaways from the Fed’s Jackson Hole Summit and an
It was no surprise that Fed Chair Powell pivoted the Fed’s focus at the annual Jackson Hole summit from inflation to employment concerns after a significant downward revision in the …
26 August 2024 Key takeaways Jackson Hole Economic …
Jackson Hole Economic Symposium: Powell signals the time has come for rate cuts At the annual meeting of global central bankers and policymakers that concluded on 24 August 2024, in …
Submit a pdf copy of the paper - SFS
Jackson Hole, Wyoming – January 13-15, 2024 We are pleased to announce that the Seventeenth meeting of the Jackson Hole Finance Group will be held in Jackson Hole, …
Speech by Chair Powell on monetary policy and price stability
At past Jackson Hole conferences, I have discussed broad topics such as the ever-changing structure of the economy and the challenges of conducting monetary policy under high …
Who Attends? What’s Discussed? - Kansas City Fed
The Federal Reserve Bank of Kansas City’s Economic Policy Symposium in Jackson Hole, Wyo., is one of the longest-standing central banking conferences in the world. In its 35 year history, the
Esther L. George First Vice President and Chief Operating …
After three years with an agricultural focus, the first monetary policy symposium was held in 1982 in Jackson Hole, Wyo. The location is the northwest corner of the Tenth Federal Reserve …
Economic Summit Jackson Hole - origin-impurities.waters
repair a broken financial system and prevent the collapse of the Main Street economy. This is the inside story of how a small group of policy makers—in a thick fog of uncertainty, with …
Monetary Policy Strategies & Accountability - Federal Reserve …
Jul 11, 2014 · Sixth Annual Rocky Mountain Economic Summit . Hosted by the Global Interdependence Center (GIC), Jon M. Huntsman Business School at Utah State University …
Donald L Kohn: Jackson Hole Conference - panel discussion …
At the intersection of market developments and monetary policy, he has led the Federal Reserve's efforts to understand the implications of changing financial technology, such as the growing …
Financial Statements June 30, 2021 Jackson Hole Airport Board
We have audited the accompanying financial statements, of Jackson Hole Airport Board (the Board) as of and for the year ended June 30, 2021, and the related notes to the financial …
For release on delivery August 25, 2023 - Federal Reserve Board
Aug 25, 2023 · Good morning. At last year’s Jackson Hole symposium, I delivered a brief, direct message. My remarks this year will be a bit longer, but the message is the same: It is the Fed’s …
Building a More Stable Financial System: Unfinished Business
Jackson Hole symposium. We learned during the Global Financial Crisis in 2007-09 that addressing wealth inequities by allowing leverage and maturity transformation to build up or
Summit Report: Knowledge Gains in Financial Protection and …
The 2024 Financial Protection and Economic Opportunity Summit brought together community members, advocates, and financial experts to enhance participants' understanding of financial …
The Growing Challenges for Monetary Policy in the current …
International Monetary and Financial System Speech given by Mark Carney Governor of the Bank of England Jackson Hole Symposium 2019 23 August 2019
Challenges for Monetary Policy: An Introduction to the 2019 …
The 2019 Jackson Hole Economic Policy Symposium sought to foster dialogue among central bankers from across the world. The global nature of the challenges confronting the world’s …
Financial Statements June 30, 2024 Jackson Hole Airport Board
Jun 30, 2024 · The Jackson Hole Airport Board (the Board) is the operator and proprietor of the Jackson Hole Airport (the “Airport”), located north of the Town of Jackson, in Teton County, …
Financial Statements June 30, 2022 Jackson Hole Airport Board
We have audited the financial statements of the business-type activities of the Jackson Hole Airport Board (the Board) as of and for the year ended June 30, 2022, and the related notes to …
The Kansas City Fed’s Jackson Hole Economic Policy …
the longest-standing central banking conferences, bringing together economists, financial market participants, academics, U.S. government representatives and news media to discuss key long …
Calendar of Confirmed 2025 Conferences - Stifel
All conferences are for current clients of Stifel and are by invitation only. Invitations are non-transferable. For more information, please contact your Stifel representative.
Key takeaways from the Fed’s Jackson Hole Summit and an …
It was no surprise that Fed Chair Powell pivoted the Fed’s focus at the annual Jackson Hole summit from inflation to employment concerns after a significant downward revision in the payroll …
26 August 2024 Key takeaways Jackson Hole Economic …
Jackson Hole Economic Symposium: Powell signals the time has come for rate cuts At the annual meeting of global central bankers and policymakers that concluded on 24 August 2024, in …
Submit a pdf copy of the paper - SFS
Jackson Hole, Wyoming – January 13-15, 2024 We are pleased to announce that the Seventeenth meeting of the Jackson Hole Finance Group will be held in Jackson Hole, Wyoming, on January …
Speech by Chair Powell on monetary policy and price stability
At past Jackson Hole conferences, I have discussed broad topics such as the ever-changing structure of the economy and the challenges of conducting monetary policy under high …
Who Attends? What’s Discussed? - Kansas City Fed
The Federal Reserve Bank of Kansas City’s Economic Policy Symposium in Jackson Hole, Wyo., is one of the longest-standing central banking conferences in the world. In its 35 year history, the
Esther L. George First Vice President and Chief Operating …
After three years with an agricultural focus, the first monetary policy symposium was held in 1982 in Jackson Hole, Wyo. The location is the northwest corner of the Tenth Federal Reserve District, …
Economic Summit Jackson Hole - origin-impurities.waters
repair a broken financial system and prevent the collapse of the Main Street economy. This is the inside story of how a small group of policy makers—in a thick fog of uncertainty, with …
Monetary Policy Strategies & Accountability - Federal Reserve …
Jul 11, 2014 · Sixth Annual Rocky Mountain Economic Summit . Hosted by the Global Interdependence Center (GIC), Jon M. Huntsman Business School at Utah State University and …
Donald L Kohn: Jackson Hole Conference - panel discussion …
At the intersection of market developments and monetary policy, he has led the Federal Reserve's efforts to understand the implications of changing financial technology, such as the growing ease …
Financial Statements June 30, 2021 Jackson Hole Airport …
We have audited the accompanying financial statements, of Jackson Hole Airport Board (the Board) as of and for the year ended June 30, 2021, and the related notes to the financial statements, …
For release on delivery August 25, 2023 - Federal Reserve …
Aug 25, 2023 · Good morning. At last year’s Jackson Hole symposium, I delivered a brief, direct message. My remarks this year will be a bit longer, but the message is the same: It is the Fed’s …
Building a More Stable Financial System: Unfinished …
Jackson Hole symposium. We learned during the Global Financial Crisis in 2007-09 that addressing wealth inequities by allowing leverage and maturity transformation to build up or
Summit Report: Knowledge Gains in Financial Protection and …
The 2024 Financial Protection and Economic Opportunity Summit brought together community members, advocates, and financial experts to enhance participants' understanding of financial …
The Growing Challenges for Monetary Policy in the current …
International Monetary and Financial System Speech given by Mark Carney Governor of the Bank of England Jackson Hole Symposium 2019 23 August 2019
Challenges for Monetary Policy: An Introduction to the 2019 …
The 2019 Jackson Hole Economic Policy Symposium sought to foster dialogue among central bankers from across the world. The global nature of the challenges confronting the world’s …
Financial Statements June 30, 2024 Jackson Hole Airport …
Jun 30, 2024 · The Jackson Hole Airport Board (the Board) is the operator and proprietor of the Jackson Hole Airport (the “Airport”), located north of the Town of Jackson, in Teton County, …
Financial Statements June 30, 2022 Jackson Hole Airport …
We have audited the financial statements of the business-type activities of the Jackson Hole Airport Board (the Board) as of and for the year ended June 30, 2022, and the related notes to the …
