Advertisement
| economic symposium jackson hole: Let Us Put Our Money Together Tim Todd, Esther L. George, 2019-05-31 Generally, books addressing the early history of African American banks have done so either within the larger construct of African American business history and economic development, or as a starting point to explore current issues related to financial services. Focused considerations of these early institutions and their founders have been relatively rare and somewhat scattered. This publication seeks to address this issue. |
| economic symposium jackson hole: Trading and Pricing Financial Derivatives Patrick Boyle, Jesse McDougall, 2018-12-17 Trading and Pricing Financial Derivatives is an introduction to the world of futures, options, and swaps. Investors who are interested in deepening their knowledge of derivatives of all kinds will find this book to be an invaluable resource. The book is also useful in a very applied course on derivative trading. The authors delve into the history of options pricing; simple strategies of options trading; binomial tree valuation; Black-Scholes option valuation; option sensitivities; risk management and interest rate swaps in this immensely informative yet easy to comprehend work. Using their vast working experience in the financial markets at international investment banks and hedge funds since the late 1990s and teaching derivatives and investment courses at the Master's level, Patrick Boyle and Jesse McDougall put forth their knowledge and expertise in clearly explained concepts. This book does not presuppose advanced mathematical knowledge, though it is presented for completeness for those that may benefit from it, and is designed for a general audience, suitable for beginners through to those with intermediate knowledge of the subject. |
| economic symposium jackson hole: Fault Lines Raghuram G. Rajan, 2011-08-08 From an economist who warned of the global financial crisis, a new warning about the continuing peril to the world economy Raghuram Rajan was one of the few economists who warned of the global financial crisis before it hit. Now, as the world struggles to recover, it's tempting to blame what happened on just a few greedy bankers who took irrational risks and left the rest of us to foot the bill. In Fault Lines, Rajan argues that serious flaws in the economy are also to blame, and warns that a potentially more devastating crisis awaits us if they aren't fixed. Rajan shows how the individual choices that collectively brought about the economic meltdown—made by bankers, government officials, and ordinary homeowners—were rational responses to a flawed global financial order in which the incentives to take on risk are incredibly out of step with the dangers those risks pose. He traces the deepening fault lines in a world overly dependent on the indebted American consumer to power global economic growth and stave off global downturns. He exposes a system where America's growing inequality and thin social safety net create tremendous political pressure to encourage easy credit and keep job creation robust, no matter what the consequences to the economy's long-term health; and where the U.S. financial sector, with its skewed incentives, is the critical but unstable link between an overstimulated America and an underconsuming world. In Fault Lines, Rajan demonstrates how unequal access to education and health care in the United States puts us all in deeper financial peril, even as the economic choices of countries like Germany, Japan, and China place an undue burden on America to get its policies right. He outlines the hard choices we need to make to ensure a more stable world economy and restore lasting prosperity. |
| economic symposium jackson hole: Economic Security: Neglected Dimension of National Security ? National Defense University (U S ), National Defense University (U.S.), Institute for National Strategic Studies (U S, Sheila R. Ronis, 2011-12-27 On August 24-25, 2010, the National Defense University held a conference titled “Economic Security: Neglected Dimension of National Security?” to explore the economic element of national power. This special collection of selected papers from the conference represents the view of several keynote speakers and participants in six panel discussions. It explores the complexity surrounding this subject and examines the major elements that, interacting as a system, define the economic component of national security. |
| economic symposium jackson hole: The Age of Turbulence Alan Greenspan, 2008-09-09 From the bestselling author of The Map and the Territory and Capitalism in America The Age Of Turbulence is Alan Greenspan’s incomparable reckoning with the contemporary financial world, channeled through his own experiences working in the command room of the global economy longer and with greater effect than any other single living figure. Following the arc of his remarkable life’s journey through his more than eighteen-year tenure as chairman of the Federal Reserve Board to the present, in the second half of The Age of Turbulence Dr. Greenspan embarks on a magnificent tour d’horizon of the global economy. The distillation of a life’s worth of wisdom and insight into an elegant expression of a coherent worldview, The Age of Turbulence will stand as Alan Greenspan’s personal and intellectual legacy. |
| economic symposium jackson hole: Slapped by the Invisible Hand Gary B. Gorton, 2010-03-08 Originally written for a conference of the Federal Reserve, Gary Gorton's The Panic of 2007 garnered enormous attention and is considered by many to be the most convincing take on the recent economic meltdown. Now, in Slapped by the Invisible Hand, Gorton builds upon this seminal work, explaining how the securitized-banking system, the nexus of financial markets and instruments unknown to most people, stands at the heart of the financial crisis. Gorton shows that the Panic of 2007 was not so different from the Panics of 1907 or of 1893, except that, in 2007, most people had never heard of the markets that were involved, didn't know how they worked, or what their purposes were. Terms like subprime mortgage, asset-backed commercial paper conduit, structured investment vehicle, credit derivative, securitization, or repo market were meaningless. In this superb volume, Gorton makes all of this crystal clear. He shows that the securitized banking system is, in fact, a real banking system, allowing institutional investors and firms to make enormous, short-term deposits. But as any banking system, it was vulnerable to a panic. Indeed the events starting in August 2007 can best be understood not as a retail panic involving individuals, but as a wholesale panic involving institutions, where large financial firms ran on other financial firms, making the system insolvent. An authority on banking panics, Gorton is the ideal person to explain the financial calamity of 2007. Indeed, as the crisis unfolded, he was working inside an institution that played a central role in the collapse. Thus, this book presents the unparalleled and invaluable perspective of a top scholar who was also a key insider. |
| economic symposium jackson hole: Financial Crises Brenda Spotton Visano, 2006-04-18 This study explores the major patterns of change in the evolution of financial crises as enduring phenomena and analyzes the paradoxical position that crises are at once similar to and different from each other. Brenda Spotton-Visano examines economic, psychological and social elements intrinsic to the process of capitalist accumulation and innovation to explain the enduring similarities of crises across historical episodes. She also assesses the impact that changing financial and economic structures have on determining the specific nature of crises and the differential effect these have in focal point, manner and extent of transmission to other, otherwise unrelated, parts of the economy. Financial Crises offers a consistent method for interpreting variations in financial crises through time and allows for a better overall appreciation for both the transitory fragility and enduring flexibility of financial capitalism and the potential vulnerability created by on-going financial development. Topical and informative, this key book is of keen interest to all those studying and researching international economics and political economy. |
| economic symposium jackson hole: Unemployment Richard Layard, P. Richard G. Layard, S. J. Nickell, Richard Jackman, 2005 This broad survey of unemployment will be a major source of reference for both scholars and students. |
| economic symposium jackson hole: Maintaining Financial Stability in a Global Economy Federal Reserve Bank of Kansas City, 2001-12 World financial markets have grown tremendously in recent years. New financial instruments have emerged, and capital flows within markets and across countries have risen dramatically. While these developments have made financial markets more efficient, they have also increased the risk that events at one institution or in one market will have immediate and wide-ranging effects on the entire global financial system. Indeed, the recent crises in Southeast Asia are an example of how quickly crises can spread from one country to another.To explore options for public authorities in adapting policies to keep the financial system safe and efficient, and to discuss response mechanisms to financial crises, the Federal Reserve Bank of Kansas City sponsored a symposium titled Maintaining Financial Stability in a Global Economy. The symposium, held at Jackson Hole, Wyoming on August 28-30, 1997, brought together a distinguished group of central bankers, academics, and financial market representatives from around the world. |
| economic symposium jackson hole: The Structural Foundations of Monetary Policy Michael D. Bordo, John H. Cochrane, Amit Seru, 2018-03-01 In The Structural Foundations of Monetary Policy, Michael D. Bordo, John H. Cochrane, and Amit Seru bring together discussions and presentations from the Hoover Institution's annual monetary policy conference. The conference participants discuss long-run monetary issues facing the world economy, with an emphasis on deep, unresolved structural questions. They explore vital issues affecting the Federal Reserve, the United States' central bank. They voice concern over the Fed's independence, governance, and ability to withstand future shocks and analyze the effects of its monetary policies and growing balance sheet in the wake of the 2008 financial crisis. The authors ask a range of questions that get to the heart of twenty-first-century monetary policy. What should the role of the Fed be? Which policies and strategies will mitigate the risks of the next crisis and at the same time spur innovation and job creation? How can new technology make the Fed's payment system safer, faster, and more efficient? What does the emergence of crypto-currencies such as Bitcoin mean for competition and stability? How can the Fed defend itself against exploitation and politicization? Finally they propose reforms to ensure that the Fed will remain independent, stable, strong, and resilient in an unpredictable world. |
| economic symposium jackson hole: The Taylor Rule and the Transformation of Monetary Policy Robert Leeson, Evan F. Koenig, George A. Kahn, 2013-09-01 A contributors' who's who from the academic and policy communities explain and provide perspectives on John Taylor's revolutionary thinking about monetary policy. They explore some of the literature that Taylor inspired and help us understand how the new ways of thinking that he pioneered have influenced actual policy here and abroad. |
| economic symposium jackson hole: Inflation Expectations Peter J. N. Sinclair, 2009-12-16 Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike. |
| economic symposium jackson hole: A Great Moral and Social Force Tim Todd, 2022-01-03 This publication offers a historical consideration of Black banking in the United States by focusing on some of the key individuals, banks and communities. While it is in no way a comprehensive history, it does include background that is essential to understanding each financial institution, its time, the events that led to its creation and the community of which it was not only a vital part, but very often a leader. Much of this history frames the world we find today. |
| economic symposium jackson hole: Monetary Policy Strategy Frederic S. Mishkin, 2007 This book by a leading authority on monetary policy offers a unique view of the subject from the perspectives of both scholar and practitioner. Frederic Mishkin is not only an academic expert in the field but also a high-level policymaker. He is especially well positioned to discuss the changes in the conduct of monetary policy in recent years, in particular the turn to inflation targeting. Monetary Policy Strategydescribes his work over the last ten years, offering published papers, new introductory material, and a summing up, Everything You Wanted to Know about Monetary Policy Strategy, But Were Afraid to Ask, which reflects on what we have learned about monetary policy over the last thirty years. Mishkin blends theory, econometric evidence, and extensive case studies of monetary policy in advanced and emerging market and transition economies. Throughout, his focus is on these key areas: the importance of price stability and a nominal anch fiscal and financial preconditions for achieving price stability; central bank independence as an additional precondition; central bank accountability; the rationale for inflation targeting; the optimal inflation target; central bank transparency and communication; and the role of asset prices in monetary policy. |
| economic symposium jackson hole: State-Space Models Yong Zeng, Shu Wu, 2013-08-15 State-space models as an important mathematical tool has been widely used in many different fields. This edited collection explores recent theoretical developments of the models and their applications in economics and finance. The book includes nonlinear and non-Gaussian time series models, regime-switching and hidden Markov models, continuous- or discrete-time state processes, and models of equally-spaced or irregularly-spaced (discrete or continuous) observations. The contributed chapters are divided into four parts. The first part is on Particle Filtering and Parameter Learning in Nonlinear State-Space Models. The second part focuses on the application of Linear State-Space Models in Macroeconomics and Finance. The third part deals with Hidden Markov Models, Regime Switching and Mathematical Finance and the fourth part is on Nonlinear State-Space Models for High Frequency Financial Data. The book will appeal to graduate students and researchers studying state-space modeling in economics, statistics, and mathematics, as well as to finance professionals. |
| economic symposium jackson hole: Housing is the Business Cycle Edward E. Leamer, 2010 Of the components of GDP, residential investment offers by far the best early warning sign of an oncoming recession. Since World War II we have had eight recessions preceded by substantial problems in housing and consumer durables. Housing did not give an early warning of the Department of Defense Downturn after the Korean Armistice in 1953 or the Internet Comeuppance in 2001, nor should it have. By virtue of its prominence in our recessions, it makes sense for housing to play a prominent role in the conduct of monetary policy. A modified Taylor Rule would depend on a long-term measure of inflation having little to do with the phase in the cycle, and, in place of Taylor's output gap, housing starts and the change in housing starts, which together form the best forward-looking indicator of the cycle of which I am aware. This would create pre-emptive anti-inflation policy in the middle of the expansions when housing is not so sensitive to interest rates, making it less likely that anti-inflation policies would be needed near the ends of expansions when housing is very interest rate sensitive, thus making our recessions less frequent and/or less severe. |
| economic symposium jackson hole: Fed Watching for Fun & Profit Edward Yardeni, 2020-03-09 In predicting the major stock, bond, commodity, and foreign exchange markets around the world, nothing is more important than to anticipate the actions of the Federal Reserve System's Federal Open Market Committee (FOMC), which sets the course of monetary policy in the United States. By controlling the key interest rate in the money markets and other monetary variables, the FOMC has an enormous impact on the global economy and financial markets.Watching the Fed closely are not only Wall Street's economists and investment strategists but also reporters and commentators at the major financial news organizations. In fact, anyone involved in investment matters and business activities anywhere in the world needs to watch the Fed, because its policies have powerful impacts not only on the US economy but also on the global economy.For participants in the financial markets, anticipating a policy change by the Fed and positioning an investment portfolio or speculative trade accordingly can result in big gains. Conversely, failing to anticipate a move by the Fed can result in big losses or missed opportunities for gains.In this unique primer, Dr. Edward Yardeni, one of the world's most experienced and widely followed Fed watchers, helps investors to understand the FOMC's decision-making process, anticipate its moves, and profit from those insights. |
| economic symposium jackson hole: Foreign Exchange Value of the Dollar , 1984 |
| economic symposium jackson hole: Monetary Policy and the State of the Economy United States Congress, United States House of Representatives, Committee on Financial Services, 2017-10-13 Monetary policy and the state of the economy: hearing before the Committee on Financial Services, U.S. House of Representatives, One Hundred Eleventh Congress, first session, July 21, 2009. |
| economic symposium jackson hole: Asset Price Bubbles William Curt Hunter, George G. Kaufman, Michael Pomerleano, 2005 A study of asset price bubbles and the implications for preventing financial instability. |
| economic symposium jackson hole: Too Big to Fail Gary H. Stern, Ron J. Feldman, 2004-02-29 The potential failure of a large bank presents vexing questions for policymakers. It poses significant risks to other financial institutions, to the financial system as a whole, and possibly to the economic and social order. Because of such fears, policymakers in many countries—developed and less developed, democratic and autocratic—respond by protecting bank creditors from all or some of the losses they otherwise would face. Failing banks are labeled too big to fail (or TBTF). This important new book examines the issues surrounding TBTF, explaining why it is a problem and discussing ways of dealing with it more effectively. Gary Stern and Ron Feldman, officers with the Federal Reserve, warn that not enough has been done to reduce creditors' expectations of TBTF protection. Many of the existing pledges and policies meant to convince creditors that they will bear market losses when large banks fail are not credible, resulting in significant net costs to the economy. The authors recommend that policymakers enact a series of reforms to reduce expectations of bailouts when large banks fail. |
| economic symposium jackson hole: The Leading Indicators Zachary Karabell, 2014-02-11 A history and critical assessment of leading indicators reveals their indelible impact on the economy, public policy, and other critical decisions, discussing their shortcomings while making suggestions for reducing dependence on them. |
| economic symposium jackson hole: Preventing Regulatory Capture Daniel Carpenter, David A. Moss, 2014 Leading scholars from across the social sciences present empirical evidence that the obstacle of regulatory capture is more surmountable than previously thought. |
| economic symposium jackson hole: The $13 Trillion Question David Wessel, 2015-11-24 The underexamined art and science of managing the federal government's huge debt. Everyone talks about the size of the U.S. national debt, now at $13 trillion and climbing, but few talk about how the U.S. Treasury does the borrowing—even though it is one of the world's largest borrowers. Everyone from bond traders to the home-buying public is affected by the Treasury's decisions about whether to borrow short or long term and what types of bonds to sell to investors. What is the best way for the Treasury to finance the government's huge debt? Harvard's Robin Greenwood, Sam Hanson, Joshua Rudolph, and Larry Summers argue that the Treasury could save taxpayers money and help the economy by borrowing more short term and less long term. They also argue that the Treasury and the Federal Reserve made a huge mistake in recent years by rowing in opposite directions: while the Fed was buying long-term bonds to push investors into other assets, the Treasury was doing the opposite—selling investors more long-term bonds. This book includes responses from a variety of public and private sector experts on how the Treasury does its borrowing, some of whom have criticized the way the Treasury has been managing its borrowing. |
| economic symposium jackson hole: The Lender of Last Resort , |
| economic symposium jackson hole: The Great Demographic Reversal Charles Goodhart, Manoj Pradhan, 2020-08-08 This original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends – it will raise inflation and interest rates, but lead to a pullback in inequality. “Whatever the future holds”, the authors argue, “it will be nothing like the past”. Deflationary headwinds over the last three decades have been primarily due to an enormous surge in the world’s available labour supply, owing to very favourable demographic trends and the entry of China and Eastern Europe into the world’s trading system. This book demonstrates how these demographic trends are on the point of reversing sharply, coinciding with a retreat from globalisation. The result? Ageing can be expected to raise inflation and interest rates, bringing a slew of problems for an over-indebted world economy, but is also anticipated to increase the share of labour, so that inequality falls. Covering many social and political factors, as well as those that are more purely macroeconomic, the authors address topics including ageing, dementia, inequality, populism, retirement and debt finance, among others. This book will be of interest and understandable to anyone with an interest on where the world’s economy may be going. |
| economic symposium jackson hole: Financial Stability Monitoring Tobias Adrian, Daniel M. Covitz, Nellie Liang, 2020 In a recently released New York Fed staff report, we present a forward-looking monitoring program to identify and track time-varying sources of systemic risk. |
| economic symposium jackson hole: Monetary Policy and Uncertainty , 2003 |
| economic symposium jackson hole: The Only Game in Town Mohamed A. El-Erian, 2016-01-26 NEW YORK TIMES BESTSELLER • A roadmap to what lies ahead and the decisions we must make now to stave off the next global economic and financial crisis, from one of the world’s most influential economic thinkers and the author of When Markets Collide • Updated, with a new chapter and author’s note “The one economic book you must read now . . . If you want to understand [our] bifurcated world and where it’s headed, there is no better interpreter than Mohamed El-Erian.”—Time Our current economic path is coming to an end. The signposts are all around us: sluggish growth, rising inequality, stubbornly high pockets of unemployment, and jittery financial markets, to name a few. Soon we will reach a fork in the road: One path leads to renewed growth, prosperity, and financial stability, the other to recession and market disorder. In The Only Game in Town, El-Erian casts his gaze toward the future of the global economy and markets, outlining the choices we face both individually and collectively in an era of economic uncertainty and financial insecurity. Beginning with their response to the 2008 global crisis, El-Erian explains how and why our central banks became the critical policy actors—and, most important, why they cannot continue is this role alone. They saved the financial system from collapse in 2008 and a multiyear economic depression, but lack the tools to enable a return to high inclusive growth and durable financial stability. The time has come for a policy handoff, from a prolonged period of monetary policy experimentation to a strategy that better targets what ails economies and distorts the financial sector—before we stumble into another crisis. The future, critically, is not predestined. It is up to us to decide where we will go from here as households, investors, companies, and governments. Using a mix of insights from economics, finance, and behavioral science, this book gives us the tools we need to properly understand this turning point, prepare for it, and come out of it stronger. A comprehensive, controversial look at the realities of our global economy and markets, The Only Game in Town is required reading for investors, policymakers, and anyone interested in the future. |
| economic symposium jackson hole: Tariff Passthrough at the Border and at the Store: Evidence from US Trade Policy Alberto Cavallo, Ms.Gita Gopinath, Brent Neiman, Jenny Tang, 2019-11-01 We use micro data collected at the border and at retailers to characterize the effects brought by recent changes in US trade policy - particularly the tariffs placed on imports from China - on importers, consumers, and exporters. We start by documenting that the tariffs were almost fully passed through to total prices paid by importers, suggesting the tariffs' incidence has fallen largely on the United States. Since we estimate the response of prices to exchange rates to be far more muted, the recent depreciation of the Chinese renminbi is unlikely to alter this conclusion. Next, using product-level data from several large multi-national retailers, we demonstrate that the impact of the tariffs on retail prices is more mixed. Some affected product categories have seen sharp price increases, but the difference between affected and unaffected products is generally quite modest, suggesting that retail margins have fallen. These retailers' imports increased after the initial announcement of possible tariffs, but before their full implementation, so the intermediate passthrough of tariffs to their prices may not persist. Finally, in contrast to the case of foreign exporters facing US tariffs, we show that US exporters lowered their prices on goods subjected to foreign retaliatory tariffs compared to exports of non-targeted goods. |
| economic symposium jackson hole: The Panic of 2008 Lawrence E. Mitchell, Arthur E. Wilmarth, Jr., 2010-01-01 The Panic of 2008 brings together scholars from a variety of disciplines to examine the causes and consequences of the global credit crisis, the subsequent collapse of the financial markets, and the following recession. The book evaluates the crisis in historical context, explores its various legal, economic, and financial dimensions, and considers various possibilities for reform. The Panic of 2008 is one of the first in-depth efforts to study the crisis as it was in the very earliest stage of resolution, and establishes a foundation for thinking about and evaluating current reform efforts and the likelihood of recurrence. This is a thorough and detailed examination by leading scholars from law, history, finance and economics and as such will be of great interest to the scholarly and academic communities of legal academicians, financial historians, financial economists, and economists. General readers engaged with the ramifications of the financial crisis, including practising lawyers, policymakers, and financial and business professionals, will also find the book invaluable and useful. |
| economic symposium jackson hole: Banking Crises Garett Jones, 2014-01-14 Why do banks collapse? Are financial systems more fragile in recent decades? Can policies to fix the banking system do more harm than good? What's the history of banking crises? With dozens of brief, non-technical articles by economists and other researchers, Banking Crises offers answers from diverse scholarly viewpoints. |
| economic symposium jackson hole: Monetary Policy Report to the Congress 2009 Ben S. Bernanke, 2009-11 The Board of Governors is pleased to submit its Monetary Policy Report to the Congress pursuant to section 2B of the Federal Reserve Act. Sincerely, Ben Bernanke, Chairman Washington, D.C., July 21, 2009 Contents Overview: Monetary Policy and the Economic Outlook Recent Financial and Economic Developments Monetary Policy: Recent Developments and Outlook Summary of Economic Projections |
| economic symposium jackson hole: The Global Economic System George Chacko, Carolyn L. Evans, Hans Gunawan, Anders Sjoman, 2011-06-08 Written for financial professionals, the authors thoroughly explain the modern global credit system; the roles of banks, hedge funds, insurers, central banks, mortgage markets, and other participants; and the credit-related instruments they rely on. In particular, the authors illuminate the crucial importance of liquidity, and show why liquidity failures have been the key cause of all major market crashes for the past several decades. The Global Financial System thoroughly examines economic environments in which slow de-leveraging leads to prolonged sluggish growth, and compares today's environment to other periods of deleveraging, such as the Great Depression and the Japanese economic meltdown of the '90s and '00s. It predicts potential pathways for the current crisis, and offers essential guidance to both policymakers and investment decision-makers. |
| economic symposium jackson hole: The Anguish of Central Banking Arthur Frank Burns, Milutin Ćirović, Jacques Jacobus Polak, 1979 |
| economic symposium jackson hole: The Alchemists Neil Irwin, 2013-04-04 When the first fissures became visible to the naked eye in August 2007, suddenly the most powerful men in the world were three men who were never elected to public office. They were the leaders of the world’s three most important central banks: Ben Bernanke of the U.S. Federal Reserve, Mervyn King of the Bank of England, and Jean-Claude Trichet of the European Central Bank. Over the next five years, they and their fellow central bankers deployed trillions of dollars, pounds and euros to contain the waves of panic that threatened to bring down the global financial system, moving on a scale and with a speed that had no precedent. Neil Irwin’s The Alchemists is a gripping account of the most intense exercise in economic crisis management we’ve ever seen, a poker game in which the stakes have run into the trillions of dollars. The book begins in, of all places, Stockholm, Sweden, in the seventeenth century, where central banking had its rocky birth, and then progresses through a brisk but dazzling tutorial on how the central banker came to exert such vast influence over our world, from its troubled beginnings to the Age of Greenspan, bringing the reader into the present with a marvelous handle on how these figures and institutions became what they are – the possessors of extraordinary power over our collective fate. What they chose to do with those powers is the heart of the story Irwin tells. Irwin covered the Fed and other central banks from the earliest days of the crisis for the Washington Post, enjoying privileged access to leading central bankers and people close to them. His account, based on reporting that took place in 27 cities in 11 countries, is the holistic, truly global story of the central bankers’ role in the world economy we have been missing. It is a landmark reckoning with central bankers and their power, with the great financial crisis of our time, and with the history of the relationship between capitalism and the state. Definitive, revelatory, and riveting, The Alchemists shows us where money comes from—and where it may well be going. |
| economic symposium jackson hole: New Challenges for Monetary Policy , 1999 |
| economic symposium jackson hole: Financial Crises Mr.Stijn Claessens, Mr.Ayhan Kose, Mr.Luc Laeven, Mr.Fabian Valencia, 2014-02-19 The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries, are discussed. |
| economic symposium jackson hole: Too Big to Fail Andrew Ross Sorkin, 2010-09-07 Includes a new afterword to mark the 10th anniversary of the financial crisis The brilliantly reported New York Times bestseller that goes behind the scenes of the financial crisis on Wall Street and in Washington to give the definitive account of the crisis, the basis for the HBO film “Too Big To Fail is too good to put down. . . . It is the story of the actors in the most extraordinary financial spectacle in 80 years, and it is told brilliantly.” —The Economist In one of the most gripping financial narratives in decades, Andrew Ross Sorkin—a New York Times columnist and one of the country's most respected financial reporters—delivers the first definitive blow-by-blow account of the epochal economic crisis that brought the world to the brink. Through unprecedented access to the players involved, he re-creates all the drama and turmoil of these turbulent days, revealing never-before-disclosed details and recounting how, motivated as often by ego and greed as by fear and self-preservation, the most powerful men and women in finance and politics decided the fate of the world's economy. |
| economic symposium jackson hole: The Revenge of Power Moisés Naím, 2022-02-22 Named one of the New Yorker's Best Books of 2022 “An authoritative and intelligent portrait of the global spread of authoritarianism and its dangers...what sets [this] work apart from books like Timothy Snyder’s On Tyranny and Michiko Kakutani’s The Death of Truth is its unusually comprehensive armada of facts about the international drift over the past two decades toward authoritarian leaders, whether old-style dictators like Kim Jong Un or nominally elected presidents like Vladimir Putin.” —Kirkus An urgent, thrilling, and original look at the future of democracy that illuminates one of the most important battles of our time: the future of freedom and how to contain and defeat the autocrats mushrooming around the world. In his bestselling book The End of Power, Moisés Naím examined power-diluting forces. In The Revenge of Power, Naím turns to the trends, conditions, technologies and behaviors that are contributing to the concentration of power, and to the clash between those forces that weaken power and those that strengthen it. He concentrates on the three “P”s—populism, polarization, and post-truths. All of which are as old as time, but are combined by today’s autocrats to undermine democratic life in new and frightening ways. Power has not changed. But the way people go about gaining it and using it has been transformed. The Revenge of Power is packed with alluring characters, riveting stories about power grabs and losses, and vivid examples of the tricks and tactics used by autocrats to counter the forces that are weakening their power. It connects the dots between global events and political tactics that, when taken together, show a profound and often stealthy transformation in power and politics worldwide. Using the best available data and insights taken from recent research in the social sciences, Naím reveals how, on close examination, the same set of strategies to consolidate power pop up again and again in places with vastly different political, economic, and social circumstances, and offers insights about what can be done to ensure that freedom and democracy prevail. The outcomes of these battles for power will determine if our future will be more autocratic or more democratic. Naím addresses the questions at the heart of the matter: Why is power concentrating in some places while in others it is fragmenting and degrading? And the big question: What is the future of freedom? |
Speech by Chair Powell on the economic outlook - Federal …
an economic symposium sponsored by the Federal Reserve Bank of Kansas City . Jackson Hole, Wyoming . August 23, 2024
Jackson Hole FAQs - kansascityfed.org
May 8, 2025 · The 2025 Jackson Hole Economic Policy Symposium will be held Aug. 21-23. This year’s theme is “Labor Markets in Transition: Demographics, Productivity, and Macroeconomic …
Jackson Hole Symposium 2024: Navigating the Future of …
The Jackson Hole Symposium, an annual gathering of central bankers, economists, and policymakers, is a crucial event where the direction of global monetary policy is often …
Jackson Hole Economic Symposium: All eyes on where …
At the annual meeting of global central bankers and policymakers that concluded on Friday, 25 August 2023, in Jackson Hole, Wyoming, United States Federal Reserve (Fed) Chairman …
The Kansas City Fed’s Jackson Hole Economic Policy Symposium
The Federal Reserve Bank of Kansas City’s Economic Policy Symposium began in 1978 and moved permanently in 1982 to Jackson Hole, Wyo., which is in the Tenth Federal Reserve …
Roster of Attendees, Economic Symposium - kansascityfed.org
The Federal Reserve Bank of Kansas City hosted its first economic policy symposium in 1978 in Kansas City, Mo. After three years with an agricultural focus, the first monetary policy …
About the 2022 Jackson Hole Economic Symposium - Kansas …
This year, the Federal Reserve Bank of Kansas City is commemorating 45 years of the Jackson Hole Economic Symposium. Each year since 1978, the Bank has invited prominent central …
Methods of Policy Accommodation at the Interest-Rate Lower …
Revised draft of a paper presented at the Federal Reserve Bank of Kansas City Symposium on “The Changing Policy Landscape,” Jackson Hole, Wyoming, August 31, 2012.
Speech by Mark Carney at Jackson Hole Economic …
Today, the combination of heightened economic policy uncertainty (Chart 2), outright protectionism and concerns that further, negative shocks could not be adequately offset …
Federal Reserve Bank of Jackson Hole Economic Symposium …
Federal Reserve Bank of Jackson Hole Economic Symposium . Reassessing Constraints on the Economy and Policy . August 25-27, 2022 . Panel Topic: An End to Pre-Pandemic Trends or …
Ale Michl: Notes from the 2023 Jackson Hole Symposium
Notes by Mr Aleš Michl, Governor of the Czech National Bank, at "Structural Shifts in the Global Economy", an economic policy symposium sponsored by the Federal Reserve Bank of Kansas …
Speech by Chair Powell on monetary policy and price stability
“Reassessing Constraints on the Economy and Policy,” an economic policy symposium sponsored by the Federal Reserve Bank of Kansas City Jackson Hole, Wyoming
Jackson Hole Economic Policy Symposium: At The Cliff Edge
In the shadow of the spectacular Teton Mountains in Jackson Hole, Wyoming, the Federal Reserve Bank of Kansas City held its forty-third Economic Policy Symposium from August 22 …
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 …
Jackson Hole Economic Symposium, 27 August 2022
This is the first time I have been able to attend the Jackson Hole symposium, but this renowned event epitomizes something I have always found of great value in the daily practice of central …
For release on delivery August 25, 2023 - Federal Reserve Board
Aug 25, 2023 · “Structural Shifts in the Global Economy,” an economic policy symposium sponsored by the Federal Reserve Bank of Kansas City Jackson Hole, Wyoming August 25, …
About the 2021 Jackson Hole Economic Symposium
Learn more about Macroeconomic Policy in an Uneven Economy, the theme of this year's Jackson Hole Economic Policy Symposium. A notable feature of the economic shock …
International Monetary Fund - IMF
Jackson Hole Symposium Gita Gopinath Economic Counsellor International Monetary Fund. 0 20 40 60 80 100 120 140 ... Sources: IMF, World Economic Outlook; and IMF staff calculations.-30 …
Challenges for Monetary Policy: An Introduction to the 2019 …
emerging and ongoing global economic developments, the need for a forum to assess the challenges that confront central banks’ as they pursue their mandates is apparent. The 2019 …
Speech by Chair Yellen on Labor Market Dynamics and …
Aug 22, 2014 · Federal Reserve Bank of Kansas City Economic Symposium Jackson Hole, Wyoming August 22, 2014
Challenges for Monetary Policy: An Introduction to the 2019 …
Economic Policy Symposium A. Lee Smith The decade since the global financial crisis offers a natural mile-stone to reflect on the challenges that confront central banks today. The adequacy …
The Kansas City Fed’s Jackson Hole Economic Policy Symposium
The Federal Reserve Bank of Kansas City’s Economic Policy Symposium began in 1978 and moved permanently in 1982 to Jackson Hole, Wyo., which is in the Tenth Federal Reserve …
Government Debt in Mature Economies. Safe or Risky?
Prepared for Economic Policy Symposium 2024.* Roberto Gomez-Cram Howard Kung Hanno Lustig´ August 20, 2024 Abstract Governments and central banks can protect either taxpayers …
Jackson Hole FAQs - kansascityfed.org
May 8, 2025 · The 2025 Jackson Hole Economic Policy Symposium will be held Aug. 21-23. This year’s theme is “Labor Markets in Transition: Demographics, Productivity, and Macroeconomic …
Jackson Hole Media Resources - kansascityfed.org
May 8, 2025 · The Federal Reserve Bank of Kansas City’s Economic Policy Symposium began in 1978 and moved permanently in 1982 to Jackson Hole, Wyo., which is in the Tenth Federal …
About the 2022 Jackson Hole Economic Symposium - Kansas …
This year, the Federal Reserve Bank of Kansas City is commemorating 45 years of the Jackson Hole Economic Symposium. Each year since 1978, the Bank has invited prominent central …
Roster of Attendees, Economic Symposium - kansascityfed.org
The Federal Reserve Bank of Kansas City hosted its first economic policy symposium in 1978 in Kansas City, Mo. After three years with an agricultural focus, the first monetary policy …
About the 2021 Jackson Hole Economic Symposium
A notable feature of the economic shock emanating from the Covid-19 pandemic has been its unevenness. Certain industries, job classes, and geographies were hit harder by pandemic …
Library of Congress image det 4a32167, photo by William …
has hosted the annual Economic Policy Symposium in Jackson Hole, Wyo. It is an honor for our Reserve Bank to be involved in organizing and facilitating a forum that brings together central …
Jackson Hole Economic Policy Symposium: Through the Years
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. The event brings …
