Monday February 13, 2012

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RESEARCH AND COMMENTARY

Save to My PortfolioThe Volcker Rule and its Impact on the U.S. Economy

Douglas J. Elliott, January 18, 2012, House Financial Services Committee

The Volcker Rule and its Impact on the U.S. EconomyThe Volcker Rule is fundamentally flawed and will do considerably more harm than good for the economy, said Douglas Elliott in testimony before the House Financial Services Committee. According to Elliott, the Volcker Rule focuses on eliminating excessive investment risk at core financial institutions without measuring either the level of this risk or the capacity of the institutions to handle it. Read More

PAST EVENT

Save to My PortfolioA Discussion with Richard Cordray, Consumer Financial Protection Bureau Director

Thursday, January 05, 2012
11:00 AM to 12:00 PM
Washington, DC

Photo by Paul MorigiOn January 5, the Brookings Institution hosted Richard Cordray, the former attorney general of Ohio and newly appointed director of the Consumer Financial Protection Bureau, for a conversation on his vision for the new consumer agency. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioThe Financial Crisis and the Path of Reform: Three Years Later

Michael Barr, December 21, 2011, The Brookings Institution

The Financial Crisis and the Path of Reform: Three Years LaterMichael Barr summarizes the financial reform measures that have been put in place both in the United States and abroad since the 2008 financial crisis. Barr discusses in further detail the threats to reform's implementation, both political and within the industry, that have deveolped since the passage of the Dodd-Frank Act in July 2010. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioThe Case for Labeling Newcits as Complex

Robert C. Pozen, December 18, 2011, Financial Times

Robert Pozen explains regulatory proposals concerning derivatives and their inclusion in UCITS funds. Pozen explains the matter and argues for regulation that would require clearly labelling some UCITS funds as complex and a stricter vetting of customers for such funds. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioEurope's Last Chance to Get it Right: From Monnet to Mitter-ohl and Merk-ozy

Michael Barr and Daniel Halberstam, December 08, 2011, CNBC

Europe's Last Chance to Get it Right: From Monnet to Mitter-ohl and Merk-ozy Michael Barr and Daniel Halberstam revisit the history of the euro to explain why preserving the eurozone's fiscal unity is necessary for Europe to have a strong economic future. Barr and Halberstam also explain what France and Germany must do to help bring Europe out of its current crisis. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioRisk-Weighting of Mortgage-Backed Securities and Sovereign Debt Under Financial Regulations

Robert C. Pozen, December 05, 2011, BobPozen.com

Robert Pozen discusses regulators’ role in the financial crisis of 2008 and the present sovereign debt crisis, noting that the regulatory treatment of any asset category as risk-free distorts bank behavior and creates systemic risk. Pozen argues that investors and institutions should avoid accepting any asset as risk-free. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioThe Financial Policy Committee at the Bank of England

Donald Kohn, December 02, 2011, U.S. Department of the Treasury

The Financial Policy Committee at the Bank of EnglandOn December 2, 2011, Donald Kohn delivered the keynote address at a U.S. Department of Treasury conference, “The Macroprudential Toolkit: Measurement and Analysis.” Kohn described how the Bank of England's Financial Policy Committee is designing policy tools to identify risks and make recommendations for implementing financial reform legislation, preserving financial stability and preventing future financial crises. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioThe Euro Crisis Summit: More Progress, More Disappointment

Douglas J. Elliott, October 24, 2011, The Brookings Institution

The Euro Crisis Summit: More Progress, More DisappointmentDouglas Elliott writes that the recent summit held by European leaders to halt the Euro Crisis resulted in some progress, but ultimately failed to reassure markets. Elliott analyzes the reasons for this, arguing that while the measures taken may strengthen the European Financial Stability Facility (EFSF) and bolster banks’ capital reserves, more needs to be done. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioDodd-Frank is More Right than Wrong

Douglas J. Elliott, October 17, 2011, U.S. News & World Report

The Dodd-Frank Wall Street Reform and Consumer Protection Act has come under attack recently from several Republican presidential candidates, who have promised to repeal it should they be elected. Douglas Elliott argues against such a repeal, saying that while Dodd-Frank is not perfect, it does address many of the major regulatory problems that were revealed in the financial crisis. Read More

BOOK

Save to My PortfolioThe Future of Housing Finance: Restructuring the U.S. Residential Mortgage Market

Martin Neil Baily, October 14, 2011

In The Future of Housing Finance, Martin Neil Baily and his contributors discuss the issues and options that policymakers face as they reassess the government's role in the U.S. residential mortgage market. Will Congress agree, and if so, how fast will it move? Read More

RESEARCH AND COMMENTARY

Save to My PortfolioEurozone Governments and the Financial Markets: A Troubled Marriage

Douglas J. Elliott, October 12, 2011, The Brookings Institution

Eurozone Governments and the Financial Markets: A Troubled MarriageDouglas Elliott says that the relationship between financial markets and eurozone governments is strained because neither markets nor policymakers seem to understand and trust each other. Elliot explains why financial markets have been reacting as they have to government decisions and signals during the euro crisis. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioLooking for Devils in the Details: The Basel III Banking Requirements and America

Douglas J. Elliott, September 28, 2011, The New York Times (Room for Debate blog)

Looking for Devils in the Details: The Basel III Banking Requirements and AmericaDouglas Elliott addresses whether the Basel III regulatory standards for banks will create a competitive advantage for European banks, undermining American banks. Although operational differences between banks could create such a gap, Elliott notes that U.S. interests guided much of the standards' creation, with negotiators winning many concessions from the Europeans. Read More

BOOK

Save to My PortfolioAsian Perspectives on Financial Sector Reforms and Regulation

Masahiro Kawai and Eswar Prasad, September 26, 2011

In this informative volume, the third in a series on emerging markets, editors Masahiro Kawai and Eswar Prasad and their contributors discuss the major domestic macroeconomic and financial policy issues that could limit the growth potential of Asian emerging markets, such as rising inflation, surging capital inflows and the accompanying risk of asset and credit market bubbles, and the threat of rapid currency appreciation. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioEnhancing Financial Stability: The Role of Transparency

Donald Kohn, September 06, 2011, Interim Financial Policy Committee - Bank of England

As an external member of the Bank of England's Interim Financial Policy Committee, Donald Kohn comments on the value of transparency in financial markets, arguing that the more informed market participants are, the more stable markets can be. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioShort Selling Bans are a Mistake

Robert C. Pozen, August 12, 2011, The Financial Times

Short Selling Bans are a MistakeRobert Pozen argues that temporarily banning short selling of financial stocks, as four European countries have done recently, is a mistake that imposes significant costs on capital markets. Read More

In Brief

The systemic problems in financial markets and institutions have contributed to the current economic crisis in America. New regulatory measures to instill confidence in the finance and banking industries to prevent such a crisis from happening again in the future are pending in Congress. Brookings experts have studied the issues and made recommendations.

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John L. Thornton China CenterPolicy CenterJohn L. Thornton China Center

The John L. Thornton China Center develops analysis and policy recommendations to help address key long-term challenges, both in terms of U.S.-China relations and China's internal development.

Katherine SierraExpertKatherine Sierra

Katherine Sierra is a senior fellow in the Global Economy and Development program. A former vice president for sustainable development at the World Bank, she focuses on climate change and energy.

Donald KohnExpertDonald Kohn

Donald Kohn is a 40-year veteran of the Federal Reserve System and served as vice chairman of the Board of Governors of the Federal Reserve from 2006 to 2010. He was recently appointed by the government of the United Kingdom and the Bank of England to serve on its interim Financial Policy Committee. Kohn focuses on issues of monetary policy, financial regulation and macroeconomics.

William G. GaleExpertWilliam G. Gale

Bill Gale, the Arjay and Frances Miller Chair in Federal Economic Policy in the Economic Studies Program at Brookings, is an expert on tax policy, fiscal issues, pensions, and saving behavior. He is also co-director of the Tax Policy Center and director of the Retirement Security Project.

Suzanne MaloneyExpertSuzanne 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.

Budgeting for National PrioritiesResearch ProjectBudgeting for National Priorities

The Budgeting for National Priorities project promotes greater fiscal responsibility by developing new ideas, educating the public and finding common ground among experts and policy-makers.

Brookings Mobile ApplicationsNEW FEATUREBrookings Mobile Applications

Stay up-to-date with our independent, high-quality research, learn about Brookings events and search our directory of experts all from your BlackBerry, iPad, iPhone or Android device.

Darrell M. WestExpertDarrell M. West

Darrell M. West is vice president and director of Governance Studies and founding director of the Center for Technology Innovation at Brookings. His studies include technology policy, electronic government, and mass media.

Center on Children and FamiliesPolicy CenterCenter on Children and Families

The Center on Children and Families studies policies on the well-being of America's children and their parents and seeks a more effective means of addressing poverty, inequality and lack of opportunity in the United States.

Energy and ClimateTopicEnergy and Climate

What will it take to mitigate severe climate disruption? What should our priorities be in the relationship between fresh water and climate change? What will it take to help vulnerable countries and regions adapt to change already taking place?

Alice M. RivlinExpertAlice M. Rivlin

In February 1975, the Congressional Budget Office was established with Alice Rivlin as its first director. Rivlin is an expert on urban issues as well as fiscal, monetary and social policy and directs the Greater Washington Research project at Brookings.

Global ChangeTopicGlobal Change

How do we develop more realistic approaches and more effective means of ending intractable old conflicts and preventing new ones? How do we enhance measures to thwart nonstate actors—especially terrorists and illicit traffickers—and prevent the spread of nuclear weapons?

Growth through InnovationTopicGrowth through Innovation

What new practices and mechanisms will help prevent another economic downturn from turning into a financial panic that could become a truly global meltdown? What changes in the public and private sectors will build the workforce and infrastructure required for a global information-based economy?

Shadi HamidExpertShadi Hamid

Shadi Hamid focuses on Islamist political parties and democratic reform in the Middle East. Prior to joining Brookings, he was Director of Research at the Project on Middle East Democracy (POMED) and a Hewlett Fellow at Stanford University’s Center on Democracy, Development, and the Rule of Law.

Opportunity and Well-beingTopicOpportunity and Well-being

As they weather the current economic storm, will our governments and societies address the basic needs and aspirations of the least well-off? How can we better use education to raise individual aspirations? How should governments around the world accelerate preparations to provide social services for the billions moving from poverty into the middle class?

State of Metropolitan AmericaMetropolitan Policy ProgramState of Metropolitan America

Foreshadowing 2010 Census results, this new Brookings report and interactive map defines who Americans are—and who they are becoming—in the face of continued growth, population aging and diversification, uneven educational attainment and income polarization.

Center for Technology InnovationPolicy CenterCenter for Technology Innovation

The Center for Technology Innovation is at the forefront of shaping public debate on technology innovation and developing data-driven scholarship to enhance understanding of technology’s legal, economic, social, and governance ramifications.

Vanda Felbab-BrownExpertVanda Felbab-Brown

Vanda Felbab-Brown focuses on the national security implications of illicit economies and strategies for managing them. She is the author of Shooting Up: Counterinsurgency and the War on Drugs (Brookings Institution Press, 2009).

Robert KaganExpertRobert Kagan

Robert Kagan is an expert and frequent commentator on Egypt, the Middle East, U.S. national security, and U.S.-European relations. He writes a monthly column on world affairs for the Washington Post and is a contributing editor at the Weekly Standard and the New Republic.

Africa Growth InitiativeResearch ProjectAfrica Growth Initiative

The Africa Growth Initiative conducts high-quality policy research and analysis focused on attaining sustainable economic development and prosperity in Africa, while amplifying the voice of African researchers in policy-making and planning.

Daniel KaufmannExpertDaniel Kaufmann

Daniel Kaufmann was previously the director at the World Bank Institute, leading the work on governance and anti-corruption. His areas of expertise are public sector and regulatory reform, development, governance and anti-corruption.

Isabel V. SawhillExpertIsabel V. Sawhill

A nationally known budget expert, Isabel Sawhill focuses on domestic poverty and federal fiscal policy. She is also co-director of the Center on Children and Families and the Budgeting for National Priorities Project at Brookings.

Mwangi S. KimenyiExpertMwangi S. Kimenyi

Mwangi S. Kimenyi is senior fellow and director of the Africa Growth Initiative. The founding executive director of the Kenya Institute for Public Policy Research and Analysis (1999-2005), he focuses on Africa's development including institutions for economic growth, political economy, and private sector development.