Finance

The 2008 financial crisis underscored the limits of the DSGE model in macroeconomics and the Efficient Markets Hypothesis in finance. Through original research and funding scholars, we are developing a fundamental reorientation of these frameworks that reconnects macro and finance with reality.

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  1. Private Equity and Surprise Medical Billing

    By Eileen Appelbaum and Rosemary Batt

    Sep 4, 2019

    How Investor-owned Physician Practices Are Driving up Healthcare Costs

  2. How Can We Track Bank Risk?

    Featuring Juliane Begenau

    Aug 21, 2019

    Risky lending took down the global economy in 2008. Tracking it now is a vital job for economists, says Juliane Begenau

  3. How the Stock Market Drives Wealth Inequality

    Featuring Moritz Schularick

    Jul 10, 2019

    When the stock market grows faster than the housing market, the gains of the top 1% outpace those of the middle class

  4. A Brief History of Doom

    Featuring Richard Vague and Rob Johnson

    Jun 26, 2019

    Richard Vague and Rob Johnson discuss the role of excessive lending in causing financial crises throughout history

  5. Coding Private Money

    By Katharina Pistor

    Jun 3, 2019

    The state has long used law to back private money—with dire consequences, then and now

  6. Report

    Macroeconomic Management Meets the New Economy

    By Commission on Global Economic Transformation

    May 2019

    A report of the Commission on Global Economic Transformation’s subcommittee on Macroeconomics & Finance

  7. Relearning Recessions

    Featuring Matthew Baron

    Jun 12, 2019

    Matthew Baron challenges conventional myths about booms and busts

  8. Could Household Debt Cause the Next Recession?

    Featuring Steve Pressman

    Jun 19, 2019

    Steven Pressman says in the next few years, we could see rising interest rates bring about a recession

  9. Non-bank lending and the credit cycle: what are the risks?

    Featuring Trent Reasons and Til Schuermann

    Jun 21, 2019 |

  10. Outlook Session: How much debt is too much?

    Featuring Karen Dynan, Jan Hatzius, and Adair Turner

    Jun 21, 2019 |

  11. Macroeconomic Stimulus à la MMT

    By Lance Taylor

    Apr 30, 2019

    Modern Monetary Theory is problematic. Launching large scale fiscal programs that rely on it would be skating on thin ice.

  12. U.S. Borrowers Still Pay More Than What’s Fair

    By ​Orsola Costantini

    Apr 19, 2019

    Low interest rate policy can only do so much to bring the relief to American borrowers that they deserve: past monetary policies, credit market regulations and stagnant labor productivity growth all get in the way. Interest rate policy activism is part of the problem, not the solution.

  13. Expectations and Credit Cycles: What role for over-optimism of borrowers and lenders?

    Featuring Alessia De Stefani and Kaspar Zimmermann

    Jun 21, 2019 |

  14. Private Debt Booms and the Real Economy: Do the benefits outweigh the costs?

    Featuring Emil Verner

    Jun 21, 2019 |

  15. Incentives and Credit Cycles: What’s driving risk taking in credit booms?

    Featuring Ruediger Fahlenbrach

    Jun 21, 2019 |