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Wednesday December 3, 2008

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RESEARCH AND COMMENTARY

Save to My PortfolioIdeas for a Second Stimulus

Martin Neil Baily, October 20, 2008, House Committee on the Budget

Ideas for a Second StimulusIn 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

Save to My PortfolioThe Failed Economic Bailout

Martin Neil Baily, September 30, 2008

The Failed Economic BailoutAs 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

Save to My PortfolioThe Financial Market Bailout

Alice M. Rivlin, September 26, 2008

The Financial Market BailoutPolicy-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

Save to My PortfolioA Brief Guide To Fixing Finance

Martin Neil Baily and Robert E. Litan, September 22, 2008, The Brookings Institution

A Brief Guide To Fixing FinanceMartin 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

Save to My PortfolioConcerns about the Treasury Rescue Plan

Douglas W. Elmendorf, September 19, 2008, The Brookings Institution

Concerns about the Treasury Rescue PlanTumult 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

Save to My PortfolioMissing Markets: Fostering Market Based Solutions to Major Risks

Thursday, June 05, 2008
9:30 AM to 12:00 PM
Washington, DC

Reuters/Andy KingHurricanes, 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

Save to My PortfolioThe Great Credit Squeeze: How It Happened, How to Prevent Another

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

Save to My PortfolioReducing the Likelihood of Financial Crisis

Douglas W. Elmendorf, May 14, 2008, Joint Economic Committee

Reducing the Likelihood of Financial CrisisEven 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

Save to My PortfolioThe Bear Stearns Rescue: The Fed’s Money Well Spent

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

Save to My PortfolioTaking Back our Fiscal Future

April 2008, The Brookings Institution and the Heritage Foundation

Taking Back our Fiscal FutureUnsustainable 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

Save to My PortfolioThe Bear Stearns Bailout

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

Save to My PortfolioEconomy: The Fed Steps In

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

Save to My PortfolioMonetary Policy and the State of the Economy

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

Save to My PortfolioRecent Financial Market Disruptions

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

Save to My PortfolioNotes on Policy Responses to the Subprime Mortgage Unraveling

Douglas W. Elmendorf, September 2007, The Brookings Institution

Notes on Policy Responses to the Subprime Mortgage UnravelingDoug 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

In Brief

The Federal Reserve System serves as the nation's central bank. It consists of a seven member Board of Governors with headquarters in Washington, D.C., and twelve reserve banks located in major cities throughout the United States. The system is key to implementing the nation’s monetary policies.

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ExpertEswar Prasad

Eswar Prasad, the Tolani Senior Professor of Trade Policy at Cornell University, is a senior fellow in Global Economy and Development. He was previously head of the Financial Studies Division and the China Division at the IMF.

Research ProjectThe Hamilton Project

The Hamilton Project produces research and policy proposals on how to create a growing economy that benefits more Americans. Their agenda also focuses on enhancing individual economic security and effective public investments. 

Research ProjectLatin America Initiative

The Latin America Initiative provides high-quality, in-depth, and independent research across a range of economic and political issues, and offers policy recommendations aimed at U.S. and Latin American policymakers.

ExpertMartin S. Indyk

Ambassador to Israel and assistant secretary of state for near east affairs during the Clinton Administration, Martin Indyk directs the Saban Center for Middle East Policy. He currently focuses on the Clinton administration’s diplomacy and the Arab-Israeli conflict.

TopicMigration

Migration is an issue that bridges Brookings’s expertise in domestic and foreign policy. In the United States, reforming immigration policy remains a subject of intense political debate. Globally, the unprecedented movement of people across borders raises issues in both industrialized countries and the developing world.

ExpertCarlos Pascual

Carlos Pascual is a former U.S. ambassador to Ukraine. As vice president and director of Foreign Policy, he focuses on post-conflict stabilization and international security policy.

TOPICThe Presidential Transition

During the 77 days from the election to the Inauguration, Brookings experts will offer 12 "Memos to the President" on top policy priorities across the spectrum of domestic and global challenges, plus additional advice on transitioning from campaigning to governing.

ExpertMauricio Cárdenas

Mauricio Cárdenas is a senior fellow and director of the Latin American Initiative. Formerly minister of Economic Development and Transportation, and director of National Planning of Colombia, his research focuses on international and development economics. He is also the president of the Latin American and Caribbean Economic Association (LACEA).

ExpertHugh B. Price

Former president and chief executive officer of the National Urban League, Hugh Price is an expert on education, civil rights, equal opportunity and criminal justice. His 40-year career spans journalism, philanthropy, the law, and social advocacy.

ExpertDarrell M. West

Darrell M. West is the vice president and director of Governance Studies at Brookings. His studies include campaigns and elections, political advertising, mass media, public opinion, technology policy and electronic government.

ProgramGovernance Studies

Governance Studies explores political institutions of the United States and other democracies to assess how they govern, how their practices compare and how citizens and public servants can advance sound governance.

ExpertSarah A. Binder

Sarah Binder is an expert on Congress and legislative politics.  She is completing a project on the politics of advice and consent, and is at work on the politics of how Congress responds to financial crises.

ExpertMark B. McClellan

A medical doctor and economist, Mark McClellan works on promoting high-quality, innovative and affordable health care. Once commissioner of the Food and Drug Administration and administrator of the Centers for Medicare and Medicaid Services, Dr. McClellan now directs the Engelberg Center for Health Care Reform.

Policy CenterEngelberg Center for Health Care Reform

The Engelberg Center for Health Care Reform provides practical solutions to achieve high-quality, innovative, affordable health care with particular emphasis on identifying opportunities on the national, state and local levels.

ExpertRebecca Blank

Rebecca Blank is an expert on the interaction between the macroeconomy, government anti-poverty programs, and the behavior and well being of low-income families. She has just been named the Robert S. Kerr senior fellow at Brookings.

ExpertJulia B. Isaacs

Julia Isaacs focuses on public investments in children and how children are affected by national budgetary policies. A former federal budget analyst, she also researches the economic mobility of children and families across the income spectrum.

ExpertDouglas W. Elmendorf

Doug Elmendorf, whose government posts have included the Federal Reserve, Treasury, Council of Economic Advisors, and CBO, focuses his research on macroeconomics and fiscal policy. He is co-editor of the Brookings Papers on Economic Activity and director of The Hamilton Project, which develops proposals for shared growth.

ExpertSuzanne Maloney

Suzanne Maloney studies Iran, the political economy of the Persian Gulf and Middle East energy policy. A former U.S. State Department policy advisor, she has also counseled private companies on Middle East issues.