AbstractThe following sections are included:IntroductionThe Cause of the Global Financial CrisisCausesFlexible Inflation Targeting (FIT) and BubbleDigression: The Japanese Bubble ExperienceMiddle Ground: Should the Central Bank Target Asset Prices?Collecting and Calculating Housing Price...

AbstractThe following sections are included:Eurozone in Balance Sheet RecessionDestabilizing Intra-Eurozone Capital FlowsAn Endgame SolutionNavigating the Transition PeriodECB Could Buy More Government Bonds to Counter Lender-Side ProblemsConclusionReference

AbstractIn 1867, when the American economy was still largely agricultural, Horace Greeley, the editor of the New York Tribune, threw out the following challenge in a lecture that he gave in Lower Manhattan: “There are 500,000 farmers, probably, in the State of New York today, who, if you were...

AbstractThe following sections are included:IntroductionFinance, Output Growth, and Output VolatilityFinance, Output Growth, and Output SkewnessConclusionReferences

AbstractThe following sections are included:IntroductionEvidence of Scale Economies at the Largest Financial InstitutionsHow are Economies of Scale Typically Measured and Why Do They Elude Many Investigations?How are Scale Economies Measured While Accounting for Endogenous Risk-Taking?Do...

AbstractThe following sections are included:Lessons LearnedImplications for the Federal ReserveConclusionReferences

AbstractThe following sections are included:IntroductionData and MethodologyFrequency-based filter analysisTurning-point analysisCharacterizing Cycles in Individual SeriesFrequency-based filter analysis: Short-term and medium-term cyclesTurning-point analysis: Short-term and medium-term...

AbstractMore than four years have passed since the onset of the financial crisis. Over these years, central banking functions have been stretched to the limits…

AbstractThe following sections are included:IntroductionDodd-Frank's New Resolution RulesOrigin myths and their implicationsKey problems with Dodd-Frank resolutionPotential benefitsThe Bankruptcy AlternativeThe bankruptcy processBenefits of bankruptcyThe limitations of bankruptcyThe role and...

AbstractThe following sections are included:Misconceptions about Crises and Crisis ResponseCentral Bank and Government Rescue ProgramsRethinking Systemic RiskUsefulness of Capital Requirements has been OversoldUndone by the Regulatory DialecticRecommendations for ReformTraditional Reporting and...