RESEARCH AND COMMENTARY
Martin Neil Baily, October 20, 2008, House Committee on the Budget
In testimony before the House Budget Committee, Martin Baily says we need a second fiscal stimulus package to avoid a deep recession. He advocates for an immediate infusion of $200 billion, with a second $100 billion released if unemployment hits 7.5 percent. The package should include help for homeowners, tax rebates for families and aid to states and localities. Read More
VIDEO
Martin Neil Baily, September 30, 2008
As lawmakers scramble to figure out next moves on the financial crisis after the House voted down the rescue package, Martin Baily urges Congress to takes steps to avert a “nasty recession.” Although the actions in Washington are to shore up financial markets in New York, Americans everywhere have a lot at stake.
VIDEO
Alice M. Rivlin, September 26, 2008
Policy-makers spent a long weekend hashing out details on legislation that would provide up to $700 billion to purchase Wall Street assets, new oversight authority and more foreclosure prevention. Former Federal Reserve Vice Chair Alice Rivlin explains how mortgage securities unraveled, how the deal makers prevailed and what this will mean for the next administration.
RESEARCH AND COMMENTARY
Martin Neil Baily and Robert E. Litan, September 22, 2008, The Brookings Institution
Martin Baily and Robert Litan analyze the long-term implications of recent and proposed government efforts to stabilize the markets and the economy at large. As Congress considers legislation this week, Baily and Litan stress the importance of understanding how and why the dominoes fell, and most important, they advocate important systemic fixes: transparency, institutional liquidity and better oversight and tools given to regulators. Read More
RESEARCH AND COMMENTARY
Douglas W. Elmendorf, September 19, 2008, The Brookings Institution
Tumult in financial markets continues to rattle the nation and spur government response. Douglas Elmendorf offers his analysis on how government funds might be best injected into the crisis-ridden economy. He weighs several approaches, from buying mortgage-related debt and other troubled securities to investing in a wide range of financial institutions. Read More
PAST EVENT
Thursday, June 05, 2008
9:30 AM to 12:00 PM
Washington, DC
Hurricanes, retirement, home-buying and tax-base erosion all pose financial risks. Yet markets to reduce these risks are elusive. The Hamilton Project at Brookings released papers at a discussion on how sound public policy can play a critical role in helping to foster new markets or expand existing markets in ways that could provide widely shared benefits. Read More
RESEARCH AND COMMENTARY
Martin Neil Baily, Douglas W. Elmendorf and Robert E. Litan, May 16, 2008, The Brookings Institution
With the U.S. financial system still in a perilous state, Martin Baily, Doug Elmendorf and Bob Litan diagnose what caused the crisis and offer prescriptions for policy change. The authors of this new Brookings paper address two challenges: to resolve the immediate problems and to reduce the likelihood that these problems recur. Read More
RESEARCH AND COMMENTARY
Douglas W. Elmendorf, May 14, 2008, Joint Economic Committee
Even though billions of dollars of mortgage-related loses have yet to be declared, Doug Elemendorf offered Joint Economic Committee members four principles to guide reform of the troubled financial system. His diagnosis and prescriptions are based on a new Brookings report to be released Friday. Read More
RESEARCH AND COMMENTARY
Alice M. Rivlin, April 11, 2008, The New York Times
Alice Rivlin discusses why the recent rescue of Bear Stearns by the Federal Reserve, was "money well spent." The Fed's actions, she says, were aimed at "protecting the rest of the country—and indeed the world—from the possibly devastating consequences of a financial meltdown." Read More
RESEARCH AND COMMENTARY
April 2008, The Brookings Institution and the Heritage Foundation
Unsustainable deficits in the federal budget threaten the health and vigor of the American economy. When the next president and Congress take office in January 2009, they will face one crucial question that has been almost absent from the current election campaign: how to close the enormous gap between projected federal spending and revenues. Read More
VIDEO
Jason Furman, March 17, 2008
Over the weekend, the Federal Reserve bailed out Wall Street giant Bear Stearns in an effort to steady the nation’s bumpy economy. Hamilton Project Director and Senior Fellow Jason Furman says it was a necessary stop-gap for our troubled economy.
RESEARCH AND COMMENTARY
Alice M. Rivlin, March 17, 2008, washingtonpost.com
Brookings Expert Alice Rivlin comments on the Federal Reserves decision to back the crumbling financial institution Bear Stearns. Read More
RESEARCH AND COMMENTARY
Alice M. Rivlin, February 26, 2008, House Committee on Financial Services
Alice M. Rivlin testified before Congress on the current economic situation and what policy makers can do to curb a possible future recession. "The Federal Reserve has used the tools in its limited arsenal aggressively and imaginatively and clearly indicated its intention do more if necessary," she said. Read More
PAST EVENT
Wednesday, September 26, 2007
9:30 AM to 11:30 AM
Washington, DC
As the nation faces what might turn out to be the worst liquidity crisis around housing in 50 years, The Hamilton Project brought together former and current Treasury officials, Wall Street experts and others for a free-flowing discussion on the risks to the economy and to individual home owners. Read More
RESEARCH AND COMMENTARY
Douglas W. Elmendorf, September 2007, The Brookings Institution
Doug Elmendorf offers a critical appraisal of recent policy responses to rising delinquencies and foreclosures of subprime mortgages. The Federal Reserve should reduce, but not slash, the federal funds rate, he argues. Read More