I outline a simple roadmap for work in micro-founded models. Rather than abandoning the route to further micro-foundations and returning to ad hoc economics, the techniques we have used over the past two decades to develop micro-founded business cycle models will allow us to develop models with...

On 3 December EY hosted a SUERF conference on banking reform with Sir Howard Davies, the Chairman of RBS, and Dame Colette Bowe, the Chairman of the Banking Standards Board, as the two keynote speakers. Professor David Miles (Imperial College) gave the SUERF 2015 Annual Lecture on Capital and...

The Capital Purchase Plan (CPP) is one of the main ingredients of the Paulson Plan. In accordance with CPP, U.S. federal agencies invested more than $200 billion in approximately 700 financial institutions between 2008 and 2009. This article examines whether this major public intervention helped...