Brookings: Topics - Monetary Policy

G-20 Summit: Recovering from the Crisis

Thu, 17 Sep 2009 00:00:00 GMT

On September 24, President Obama will chair his first G-20 Summit in Pittsburgh. With the world economy improving, leaders will now focus their attention on economic recovery and restoring financial stability. Experts from Brookings Global Economy and Development program analyze top issues to be addressed at the summit and provide recommendations on how to effectively overcome global economic and governance challenges to ensure recovery now and to prevent future crises.

Monetary Policy and Financial Stability: An Address by José de Gregorio

Thu, 17 Sep 2009 14:00:00 GMT

Event Information:

September 17, 2009, 2:00 PM to 3:30 PM

On September 17, the Brookings Institution will host Dr. José de Gregorio, governor of the Central Bank of Chile. Governor de Gregorio will outline his views on how best to structure monetary policy and regulatory frameworks in emerging markets to promote macroeconomic and financial stability.

A Year in Turmoil: An Address By Fed Chairman Ben Bernanke

Tue, 15 Sep 2009 10:00:00 GMT

Event Information:

September 15, 2009, 10:00 AM to 12:00 PM

This week marks the one-year anniversary of Lehman Brothers' collapse. Federal Reserve Chairman Ben Bernanke delivered a keynote about the tumultuous events of last September at a Brookings forum on Tuesday. Brookings Vice President Karen Dynan moderated a panel with other experts on the state of financial markets and regulatory reform.

Monetary Policy Challenges for Emerging Market Economies

Wed, 19 Aug 2009 00:00:00 GMT

The debate between theorists and practitioners on monetary policy challenges for emerging market economies continues. This paper by Brookings expert Eswar Prasad, Gill Hammond, and Ravi Kanbur addresses the dialogue between academics and policymakers on this issue and sets an agenda for further research.

Latin America and the Economic Crisis: Designing and Implementing Stimulus Policies

Thu, 25 Jun 2009 00:00:00 GMT

Mauricio Cárdenas critiques the conventional wisdom that economic contractions are a thing of the past in Latin America and a growing belief the region will soon be out of the recession. He concludes that any recovery will be slow and there may be periods of sharp adjustment during the process.

Four Reflections on the Political Consequences of the Economic Crisis in Latin America

Thu, 25 Jun 2009 00:00:00 GMT

Kevin Casas-Zamora analyzes what is known and unknown about the global financial crisis and its effects on Latin America. Casas-Zamora explores four main issues regarding the political ramifications of the crisis and offers suggestions on how governments in the region should respond.

Latin America and the Economic Crisis: An Address by Chilean President Michelle Bachelet

Tue, 23 Jun 2009 10:00:00 GMT

Event Information:

June 23, 2009, 10:00 AM to 11:50 AM

On June 23, the Brookings Institution hosted Her Excellency Michelle Bachelet, president of the Republic of Chile, for a discussion of the Latin American countries and the economic measures they are taking to cope with the global financial crisis.

Moving Money : The Future of Consumer Payments

Fri, 01 May 2009 00:00:00 GMT

In Moving Money, noted economists Robert Litan and Martin Baily bring together a group of distinguished analysts to examine this trend toward digital means of consumer payment.

Assessing the G-20 Stimulus Plans: A Deeper Look

Thu, 05 Mar 2009 00:00:00 GMT

Almost all of the G-20 countries have agreed to some type of fiscal stimulus plan to get their economies back on track but how strong are the plans and what measures are included? Eswar Prasad and Isaac Sorkin analyze the G-20 stimulus plans in detail in new research.

The U.S. and China: A Grand Bargain?

Fri, 30 Jan 2009 00:00:00 GMT

Is recent sparring between the U.S. and China over currency manipulation a foreshadowing of future economic relations? Eswar Prasad instead proposes a solution: a new “grand bargain” between China and the U.S. for economic cooperation across fiscal and monetary policy, currency flexibility and governance reform at multilateral financial institutions.

Top 10 Global Economic Challenges Facing America's 44th President

Fri, 10 Oct 2008 00:00:00 GMT

As President-Elect Obama prepares to lead the United States, what are the top global economic challenges facing the new president and his advisors and how should the new administration address them? A new report by Brookings global economic and development experts ranks the top 10 issues and details specific ideas for how to tackle the toughest challenges.

Perspectives on the Global Economic Landscape

Tue, 22 Jul 2008 10:30:00 GMT

Event Information:

July 22, 2008, 10:30 AM to 12:00 PM

On July 22, Global Economy and Development at Brookings hosted John Lipsky, first deputy managing director of the International Monetary Fund, for a conversation on the evolving global economic landscape.

Inflation Amidst Recession: Policy Prescriptions for Sustaining Stable Growth

Wed, 14 May 2008 00:00:00 GMT

In response to the burst in global inflation, Wing Thye Woo provides policy recommendations on how to manage the emerging stagflation and produce sustained and stable economic growth.

Financial Innovation and Housing: Implications for Monetary Policy

Mon, 21 Apr 2008 00:00:00 GMT

By examining the IMF's World Economic Outlook, Senior Fellow Doug Elmendorf, discusses ways in which innovations in housing finance around the world might change the way monetary policy deals with housing developments in the future.

The Bear Stearns Rescue: The Fed’s Money Well Spent

Fri, 11 Apr 2008 00:00:00 GMT

Alice Rivlin discusses why the recent rescue of Bear Stearns by the Federal Reserve, was "money well spent." The Fed's actions, she says, were aimed at "protecting the rest of the country—and indeed the world—from the possibly devastating consequences of a financial meltdown."

Taking Back our Fiscal Future

Tue, 01 Apr 2008 00:00:00 GMT

Unsustainable deficits in the federal budget threaten the health and vigor of the American economy. When the next president and Congress take office in January 2009, they will face one crucial question that has been almost absent from the current election campaign: how to close the enormous gap between projected federal spending and revenues.

Reducing the High Costs of Being Poor

Sat, 08 Mar 2008 00:00:00 GMT

Matt Fellowes testifies before the House Committee on Financial Services on his research into the high costs of being poor.

Weighing Alternative Policies for Tackling the Mortgage Mess

Fri, 29 Feb 2008 00:00:00 GMT

Without government action, mortgage foreclosures will rise steeply for the next several years, argues Doug Elmendorf. He analyzes the wide range of proposals for tackling this problem, arguing that policy-makers should weigh the fairness of alternative approaches and effects on future mortgage credit, as well as the consequences of inaction.

Monetary Policy and the State of the Economy

Tue, 26 Feb 2008 00:00:00 GMT

Alice M. Rivlin testified before Congress on the current economic situation and what policy makers can do to curb a possible future recession. "The Federal Reserve has used the tools in its limited arsenal aggressively and imaginatively and clearly indicated its intention do more if necessary," she said.

Beyond the Stimulus Package

Tue, 05 Feb 2008 00:00:00 GMT

Isabel Sawhill argues that the fiscal stimulus package is a good idea, but is merely a stopgap that will do little to change the fundamental problems. She says that Congress should not lose sight of how the economy got to where it is and what is needed to prevent such vulnerabilities in the future.

Voting on ‘Metro Tuesday’

Mon, 04 Feb 2008 00:00:00 GMT

Though Washington is abuzz with talk of a short-term stimulus for the economy, very little is being said about the long-term challenges to American prosperity.

The Post-Stimulus Economy: Stimulate, Then Be Patient

Fri, 01 Feb 2008 00:00:00 GMT

Will the economy get a much-needed boost from a stilmulus package? In a week long Los Angeles Times 'Dust Up' series, Jason Furman, a Brookings scholar and an advisor to President Clinton, and author-economist Steven E. Landsburg discuss the U.S. economy and the recently announced stimulus package.

What Can We Blame?: Stimulus Doesn't Stop Adjustment

Thu, 31 Jan 2008 00:00:00 GMT

After the Stimulus

Tue, 29 Jan 2008 00:00:00 GMT

The economic stimulus package before Congress may provide temporary relief in the short-term, but, ultimately, bolstering America’s long-term economic growth depends on the “three Is”- innovation, intellect, and infrastructure. Alan Berube, research director and fellow at the Metropolitan Policy Program at Brookings discusses America’s major metropolitan areas hold the key to economic health for the long haul.

The Need for a Stimulus Package Now

Tue, 29 Jan 2008 00:00:00 GMT

A stimulus package, especially with major add-ons, could exacerbate the already ominous long-run deficit picture. Alice M. Rivlin testifies that the deficit increase associated with the stimulus represents a risk worth taking in order to reduce the chances of recession.

Where's That Stimulus Money?: Fast-Acting Fiscal Stimulus

Tue, 29 Jan 2008 00:00:00 GMT

In the Shadow of Fiscal Policy

Tue, 29 Jan 2008 00:00:00 GMT

As the government moves closer to finalizing a fiscal stimulus package, the Federal Reserve must decide what influence, if any, the legislation should have on policy. Two former Fed economists, Douglas Elmendorf of the Brookings Institution and Vincent Reinhart of the American Enterprise Institute, argue that fiscal stimulus shouldn't stop the Fed from significantly cutting rates.

Recession Prevention: Keynes Was Right

Mon, 28 Jan 2008 00:00:00 GMT

Will the economy be stimulated by the House/White House stimulus package? In a week long series, The Hamilton Project director, Jason Furman, a Brookings scholar and an advisor to President Clinton, and author-economist Steven E. Landsburg discuss the U.S. economy and the recently announced stimulus package.

Options for Fiscal Stimulus

Thu, 24 Jan 2008 00:00:00 GMT

In a testimony before the U.S. Senate Committee on Finance, Jason Furman discusses a timely, temporary and targeted fiscal stimulus as a well-designed solution in stabilizing the economy.

Was the Fed Too Easy for Too Long?

Tue, 13 Nov 2007 00:00:00 GMT

Some argue that the Federal Reserve has kept rates too low for too long, thus setting the stage for the housing boom-bust and financial turmoil. But the optimal policy one can imagine in hindsight would not have changed the course of events much, says Doug Elmendorf.

Recent Financial Market Disruptions

Wed, 26 Sep 2007 09:30:00 GMT

Event Information:

September 26, 2007, 9:30 AM to 11:30 AM

As the nation faces what might turn out to be the worst liquidity crisis around housing in 50 years, The Hamilton Project brought together former and current Treasury officials, Wall Street experts and others for a free-flowing discussion on the risks to the economy and to individual home owners.

Notes on Policy Responses to the Subprime Mortgage Unraveling

Fri, 21 Sep 2007 00:00:00 GMT

Doug Elmendorf offers a critical appraisal of recent policy responses to rising delinquencies and foreclosures of subprime mortgages. The Federal Reserve should reduce, but not slash, the federal funds rate, he argues.

Betting With the House's Money

Thu, 15 Feb 2007 00:00:00 GMT

Opinion by Kenneth Rogoff, Project Syndicate (2/15/07)

Saving and Demographic Change: The Global Dimension

Wed, 01 Nov 2006 00:00:00 GMT

Paper by Barry Bosworth and Gabriel Chodorow-Reich (November 2006)

Government Failure vs. Market Failure: Microeconomics Policy Research and Government Performance

Fri, 01 Sep 2006 00:00:00 GMT

On what basis is one to conclude that a policy to correct a market failure is as successful as possible? The first consideration is whether government has any reason to intervene in a market: Is there evidence of a serious market failure to correct? The second is whether government policy is at least improving market performance: Is it reducing the economic inefficiency, or "deadweight" loss, from market failure?

Federal Reserve System: The Mark of the Bust

Wed, 14 Jun 2006 00:00:00 GMT

Opinion by Martin Mayer, The New York Times (6/14/06)

It's Time to Let Banks (Even Big Ones) Compete

Thu, 08 Jun 2006 00:00:00 GMT

Opinion by Robert E. Litan, AEI-Brookings Joint Center (6/8/06)

Credit Markets, Creditors' Rights and Economic Development

Wed, 01 Feb 2006 00:00:00 GMT

Credit markets are just as important as equity markets to financial development. And in most countries far more finance is generated in credit markets than in public equity markets. Even in the United States, which is usually thought the country with the most pronounced equity culture, far more money is raised in credit markets than in equity markets.

Global Imbalances: The Blind Men and the Elephant

Sun, 01 Jan 2006 00:00:00 GMT

This paper reviews competing explanations for the pattern of global imbalances and the magnitude of the U.S. external deficit. It argues that, far from being incompatible, existing explanations are all parts of the larger story.

The United States Current Account Deficit and World Markets

Tue, 01 Feb 2005 00:00:00 GMT

Article by Warwick J. McKibbin and Andrew Stoeckel, Economic Scenarios (February 2005)

The Future of State-Owned Financial Institutions : Policy and Practice

Tue, 01 Feb 2005 00:00:00 GMT

In The Future of State-Owned Financial Institutions: Policy and Practice noted experts discuss the challenges presented by state-owned financial institutions and offer cross-disciplinary solutions for policymakers and banking regulators.

The Future of State-Owned Financial Institutions

Wed, 01 Sep 2004 00:00:00 GMT

Conference Report #18 by Gerard Caprio, Jonathan Fiechter, Robert E. Litan and Michael Pomerleano. (September 2004)

Changes in Equity Risk Perceptions: Global Consequences and Policy Responses

Sun, 01 Feb 2004 00:00:00 GMT

Paper by Warwick J. McKibbin and David Vines (2/04)

The Monetary Geography of Africa

Fri, 17 Oct 2003 00:00:00 GMT

Chapters from the upcoming book by Paul R. Masson and Catherine Pattillo, April 10, 2003

Issues in the Choice of a Monetary Regime for India

Mon, 01 Sep 2003 00:00:00 GMT

Paper by Warrick J. McKibbin

Africa's Economic Morass--Will a Common Currency Help?

Tue, 01 Jul 2003 00:00:00 GMT

Brookings Policy Brief #121 by Paul Masson and Heather Milkiewicz. (July 2003)

A Law That's Out of Date: Anti-Tying Restrictions On Banks

Tue, 27 May 2003 00:00:00 GMT

Opinion by Robert E. Litan (5/27/03)

Banks Must Be Untied from an Outdated Law

Tue, 06 May 2003 00:00:00 GMT

Opinion by Robert E. Litan (5/06/03)

New Brookings Study: The Economic Effects of Long-Term Fiscal Discipline

Tue, 17 Dec 2002 10:00:00 GMT

Event Information:

December 17, 2002, 10:00 AM to 11:30 AM

Corruption and Monetary Policy

Tue, 27 Nov 2001 00:00:00 GMT

Paper by Shang-Jin Wei, Senior Fellow, the Brookings Institution, and Haizhou Huang, International Monetary Fund, November 27, 2001

Retrospective on American Economic Policy in the 1990s

Fri, 02 Nov 2001 00:00:00 GMT

Paper by Jeffrey Frankel, Harvard University, and Peter R. Orszag, Senior Fellow, The Brookings Institution, November 2, 2001

Cross-Border Financial Interdependence: Helpful and Hazardous

Sat, 01 Sep 2001 00:00:00 GMT

Brookings Review article by Ralph C. Bryant (Fall 2001)

Options for Stabilization Policy: A New Analysis of Choices Confronting the Fed

Thu, 01 Feb 2001 00:00:00 GMT

In this policy brief, the authors propose an alternative to the conventional natural rate model. It is based on behavioral assumptions that we believe are more realistic than those underlying the natural rate model and that are backed by research on

The Birth of the Euro: Monetary Union in Western Europe

Tue, 01 Jun 1999 00:00:00 GMT

Brookings Review, Summer 1999

A New Financial Superpower?: Effects of Economic Union in Europe

Tue, 01 Jun 1999 00:00:00 GMT

Brookings Review, Summer 1999

The Birth of the Euro: How Will It Affect the World Economy?

Thu, 07 Jan 1999 09:30:00 GMT

Event Information:

January 07, 1999 at 9:30 AM

International Effects of the Euro

Fri, 01 Jan 1999 00:00:00 GMT

Policy Brief #42, by Robert Solomon

Does the IMF Have a Future? What Should It Be?

Thu, 01 Oct 1998 00:00:00 GMT

Discussion Papers in Economics

Dodging the Bullet ... This Time: The Asian Crisis and U.S. Economic Growth during 1998

Mon, 01 Jun 1998 00:00:00 GMT

Brookings Review article by David D. Hale (Summer 1998)

Why Secrecy is Bad for Banking

Tue, 30 Dec 1997 00:00:00 GMT

Opinion by Martin Mayer, The Wall Street Journal (12/30/97)

Sports, Jobs, & Taxes: Are New Stadiums Worth the Cost?

Sun, 01 Jun 1997 00:00:00 GMT

Brookings Review article by Roger G. Noll and Andrew Zimbalist (Summer 1997)

International Monetary Arrangements: Is There a Monetary Union in Asia's Future?

Sat, 01 Mar 1997 00:00:00 GMT

Brookings Review article by Barry Eichengreen (Spring 1997)

Promises, Promises: The elusive search for faster economic growth

Sun, 01 Sep 1996 00:00:00 GMT

Brookings Review article by Charles L. Schultze (Fall 1996)

Low Inflation or No Inflation: Should the Federal Reserve Pursue Complete Price Stability?

Thu, 01 Aug 1996 00:00:00 GMT

Policy Brief #4, by George A. Akerlof, William T. Dickens, and George L. Perry (August 1996)

Alternative Rules for Monetary Policy and Fiscal Policy in New Zealand: A Preliminary Assessment of Stabilization Properties

Mon, 01 Jul 1996 00:00:00 GMT

Brookings Discussion Papers in International Economics

Central Bank Independence, Fiscal Responsibility, and the Goals of Macroeconomic Policy: An American Perspective on the New Zealand Experience

Sat, 01 Jun 1996 00:00:00 GMT

Brookings Discussion Papers in International Economics

Economic Integration: Conflict versus Cohesion

Mon, 01 May 1995 00:00:00 GMT

Paper by Susan Collins (5/95)

Controlling Money : The Federal Reserve and Its Critics

Fri, 01 Apr 1983 00:00:00 GMT

This book analyzes three common sources on confusion about Federal Reserve policy: an inadequate comprehension of the differences among alternative operating procedures available to the Federal Reserve and the consequences of choosing one set of proc