Members in the News

  • April 16, 2015

     

    In an opinion piece for the Financial Times, Philipp Hildebrand, vice-chairman of BlackRock, discusses the need for the European Commission to pay more attention to investors’ perspectives. He notes how the CMU is aiming to remedy the fundamental problem that Europe is overwhelmingly reliant on banks to finance its economic growth, and hardly on capital markets. He indicates that institutional investors and end-investors who will be providing the financing want more simplicity, transparency, adequate incentives, and liquidity.

  • April 5, 2015

     

    In an opinion piece for the Financial Times, Lawrence Summers, Charles W. Eliot professor at Harvard University, describes that with “the combination of China’s effort to establish the Asian Infrastructure Investment Bank and the failure of the US to persuade dozens of its traditional allies to stay out of it,” the US has lost its role and ability to steer the direction of the global economy. He argues that as part of the US strategy to deal with this issue moving forward, US leaders should work towards bipartisan compromises, strengthen the middle class, and promote investment over imposing austerity.

  • March 27, 2015

     

    In an opinion piece for Project Syndicate, Martin Feldstein, Professor of Economics at Harvard University and President Emeritus of the National Bureau of Economic Research, discusses the recognition by Chinese officials during the annual China Development Forum that "annual real GDP growth has declined permanently from the past three decades' average rate of nearly 10%.” He warns that China has many other economic concerns also, including massive debt owed to local governments, environmental problems, weak performance of state-owned enterprises, and the continuation of restrictions on direct investments by foreigners.

  • March 16, 2015

     

    In a Project Syndicate article, Adair Turner, Senior Fellow at the Institute for New Economic Thinking, discusses how the Bank of Japan will eventually have to monetize trillions of dollars of government debt. However, due to the culturally and ethnically homogenous nature of Japan, “the probable market reaction will be a collective shrug of the shoulders.” He argues the market should be more concerned with the Eurozone because of its years of increasing unemployment and slow growth.

  • March 9, 2015

     

    In a Project Syndicate article, Kenneth Rogoff, Professor of Economics and Public Policy at Harvard University, discusses the “disconnect between the new highs reached by global equity indices and the new depths plumbed by real interest rates worldwide.” Competing explanations that try to reconcile the observed trends that he examines include secular stagnation theory, the impact of financial repression, and the role geopolitical instability, pandemics, and natural disasters have on public concern.

  • February 24, 2015

     

    In an interview with the Financial Times , Jean-Claude Trichet, G30 Chairman and former President of the European Central Bank speaks about the consequences of Greece leaving the eurozone. He argues that it would be a "big shock for the rest of Europe," countering those who say that it would be betterfor the Greeks to leave the monetary union now rather than during his tenure at the ECB. Mr. Trichet points out that since the global financial crisis, the number of eurozone countries has actually grown, noting the resilience of the political forces that hold the currency together.

  • February 12, 2015

     

    In an opinion piece for Project Syndicate, Adair Turner, Senior Fellow at the Institute for New Economic Thinking, discusses the role the Chinese economy is playing in intensifying deflationary headwinds. He argues that China’s economic growth strategy modeled off of Japan, South Korea, and Taiwan has proved ineffective because of their larger population. He argues that when the investment-phase in China ends, growth, both in China and around the world, are certain to slow down.

  • February 2, 2015

     

    In an opinion piece for Project Syndicate, Raghuram Rajan, Governor of the Reserve Bank of India, discusses the impact the global slowdown has had on India, and the necessary steps needed to promote economic prosperity. He argues that there should be efficiency-boosting investments, improvements in human capital, fiscal prudence, and a focus on keeping inflation low and stable.

  • January 30, 2015

     

    In an interview with Charlie Rose, Lawrence Summers, Charles W. Eliot professor at Harvard University discusses the economy and state of the world. He argues that there is a growing concern over deflation and low interest rates, while claiming that “we are in unchartered territory economically, driven by a lack of demand.”

  • January 28, 2015

     

    In an opinion piece for Project Syndicate, Martin Feldstein, Professor of Economics at Harvard University and President Emeritus of the National Bureau of Economic Research, discusses the impact the recent ECB quantitative easing policy will have in the Eurozone. He cautions it will not be enough to boost real incomes, reduce unemployment, and lower government’s debt-to-GDP ratios.

     

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