Deborah J. Lucas, Sloan Distinguished Professor of Finance and Director, MIT Golub Center for Finance and Policy Refet A. Gürkaynak, Professor of Economics and Department Chair, Bilkent University

Governments worldwide increasingly rely on contingent claims such as deposit insurance, too-big-to-fail guarantees, credit support for firms and households, and disaster insurance to accomplish policy goals. What are the micro- and macro-economic consequences of [...]

Eric Rosengren, MIT visiting scholar and former President and CEO of the Federal Reserve Bank of Boston, joined ‘Squawk Box’ to discuss...

Gilt Market Dysfunction and Liability-Driven Investment (LDI) - A Progress Report

In an article in The Hill, Bob Pozen explores how the recently enacted Cares Act has tax provisions that favor wealthy investors and large companies. There is proposed legislation now in Congress to [...]

This guest blog post, by former Federal Reserve Governor Daniel Tarullo, was prepared while he was recently in residence at the Golub Center as a Distinguished Fellow.

It is the rare journalist who tackles the topic of government credit programs and their ills. Rarer still is a popular account that accurately brings these complicated issues to life. Kudos to Michael Grunwald, who writing for Politico, did just that. I highly recommend his article. (Note that to ge...

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 [...]

It is high time for advanced-economy governments to accelerate the move to “less-cash societies” by addressing the growing disconnect between steadily rising currency issuance (mostly in large notes like the $100 bill) and ever-declining use of cash in legal, tax-compliant payments.

The White House released the President’s budget proposal for fiscal year 2019 on February 12, just days after President Trump signed a bill extending spending caps for military and domestic spending and suspending the debt ceiling. While the new law has already...