No Way Out: Government Response to the Financial Crisis
A Presentation of the No Way Out Conference Series

As part of the response to the ongoing financial crisis, the U.S. government has significantly expanded its role in the economy. This increased direct involvement will surely be followed by legislative overhaul of the supervisory system. Individual and corporate market participants will also be adjusting their own behaviors and institutions in light of the experience of the past year. Both of these reactions may make it difficult for the government to exit policies designed to handle the crisis.

More broadly, the appropriate role of government in the economy is also in question. Should fiscal policy continue to be used aggressively to help to stabilize the economy? If so, are there better ways to design automatic stabilizers? Should monetary policy respond forcefully to apparent asset bubbles in the future? Would that make a repetition of the crisis less likely? Should the Federal Reserve retain some of its newly instituted credit facilities so as to have more levers on financial markets and the economy?

This AEI conference will combine the experiences of market participants with new analysis from academics. In the first session, AEI resident scholar Vincent R. Reinhart will present his findings gleaned from a series of conversations with market participants. Angel Ubide of Tudor Investment Corporation; Greg Ip, the U.S. economics editor of The Economist; and Christopher Whalen of Risk Analytics will respond.

The second session includes prominent academics who are all contributing scholarly papers to a forthcoming edited volume on the crisis. Frederic Mishkin and Ricardo Reis of Columbia University, Ethan Ilzetzki of London School of Economics, and Michael Bordo of Rutgers University will present an initial overview of the proposed research.

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About the Author

 

Vincent R.
Reinhart
  • Vincent Reinhart, a former director of the Federal Reserve Board's Division of Monetary Affairs, joined AEI in 2008 after working on domestic and international aspects of U.S. monetary policy at the Fed for more than two decades. He held a number of senior positions in the Divisions of Monetary Affairs and International Finance and served for the last six years of his Federal Reserve career as secretary and economist of the Federal Open Market Committee. Mr. Reinhart worked on topics as varied as economic bubbles and the conduct of monetary policy, auctions of U.S. Treasury securities, alternative strategies for monetary policy, and the efficient communication of monetary policy decisions. At AEI, he has continued his work on all of the above in addition to research on key economic variables before and after adverse global and country-specific shocks, policy mistakes leading to the 2007-09 financial meltdown, and the implementation and impact of quantitative easing.
  • Email: vincent.reinhart@aei.org

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Wednesday, April 23, 2014 | 12:00 p.m. – 1:30 p.m.
Graduation day: How dads’ involvement impacts higher education success

Join a diverse group of panelists — including sociologists, education experts, and students — for a discussion of how public policy and culture can help families lay a firmer foundation for their children’s educational success, and of how the effects of paternal involvement vary by socioeconomic background.

Thursday, April 24, 2014 | 12:00 p.m. – 1:30 p.m.
Getting it right: A better strategy to defeat al Qaeda

This event will coincide with the release of a new report by AEI’s Mary Habeck, which analyzes why current national security policy is failing to stop the advancement of al Qaeda and its affiliates and what the US can do to develop a successful strategy to defeat this enemy.

Friday, April 25, 2014 | 9:15 a.m. – 1:15 p.m.
Obamacare’s rocky start and uncertain future

During this event, experts with many different views on the ACA will offer their predictions for the future.   

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No events scheduled this day.
No events scheduled this day.
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No events scheduled this day.