The COVID-19 pandemic damages the U.S. and the world economy and puts policymakers in an unfamiliar dilemma. Non-pharmaceutical interventions (NPIs) such as social distancing slow the spread of [...]

Given infrastructure’s integral role in enabling high-functioning economies around the world and the concern that the pace of investment is not keeping up with the need for it, I have recently begun to focus my research on the consequences of different approaches to...

Federal credit program managers and other subject area experts from government, industry, and academia took part in a recent conference co-sponsored by the MIT Golub Center for Finance and Policy […]

High rates of debt growth by local governments are a cause for concern in any country. In China, where recent turmoil in the equity and foreign-exchange markets has put a spotlight on that country’s economy and growth prospects, increasing levels of borrowing by provincial and other lower levels of ...

This blog post is based on a talk presented at the Shadow Open Market Committee on February 11, 2022. The opinions expressed are my own and not those of the MIT Golub Center for Finance and Policy.

The COVID-19 induced ‘Great Lockdown’ has cast doubt on the efficacy of bank buffers in supporting the real economy in times of crisis. Despite accommodative regulatory and supervisory action, banks remain hesitant to [...]

When deposits are not completely insured, the presence of too big-to-fail (TBTF) banks alters the competitive landscape for depositors’ funds [...]

On October 4, 2018, the MIT Golub Center for Finance and Policy Distinguished Speaker Series, the MIT Department of Economics, the Sloan Finance and Policy Club, and the Undergraduate Economics Association hosted a public lunchtime lecture and Q&A with Mervyn King, Lord King of Lothbury, KG, GBE, FB...

Changing Economic and Policy Environments for the World’s Largest Financial Institution

Edward L. Golding, Laura E. Kodres, and Deborah J. Lucas The 2008 financial crisis triggered a wave of new financial regulations, most notably as mandated by the Dodd Frank Act of 2010. That legislation recognized that existing regulations were inadequately designed to protect against systemic ri...