No Way Out: Government Response to the Financial Crisis
A Presentation of the No Way Out Conference Series

As part of the response to the ongoing financial crisis, the U.S. government has significantly expanded its role in the economy. This increased direct involvement will surely be followed by legislative overhaul of the supervisory system. Individual and corporate market participants will also be adjusting their own behaviors and institutions in light of the experience of the past year. Both of these reactions may make it difficult for the government to exit policies designed to handle the crisis.

More broadly, the appropriate role of government in the economy is also in question. Should fiscal policy continue to be used aggressively to help to stabilize the economy? If so, are there better ways to design automatic stabilizers? Should monetary policy respond forcefully to apparent asset bubbles in the future? Would that make a repetition of the crisis less likely? Should the Federal Reserve retain some of its newly instituted credit facilities so as to have more levers on financial markets and the economy?

This AEI conference will combine the experiences of market participants with new analysis from academics. In the first session, AEI resident scholar Vincent R. Reinhart will present his findings gleaned from a series of conversations with market participants. Angel Ubide of Tudor Investment Corporation; Greg Ip, the U.S. economics editor of The Economist; and Christopher Whalen of Risk Analytics will respond.

The second session includes prominent academics who are all contributing scholarly papers to a forthcoming edited volume on the crisis. Frederic Mishkin and Ricardo Reis of Columbia University, Ethan Ilzetzki of London School of Economics, and Michael Bordo of Rutgers University will present an initial overview of the proposed research.

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About the Author

 

Vincent R.
Reinhart

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Tuesday, September 16, 2014 | 5:00 p.m. – 6:00 p.m.
The Constitution as political theory

Please join us for the third-annual Walter Berns Constitution Day Lecture as James Ceasar, Harry F. Byrd Professor of Politics at the University of Virginia, explores some of the Constitution’s most significant contributions to political theory, focusing on themes that have been largely unexamined in current scholarship.

Wednesday, September 17, 2014 | 8:10 a.m. – Thursday, September 18, 2014 | 1:30 p.m.
Third international conference on housing risk: New risk measures and their applications

We invite you to join us for this year’s international conference on housing risk — cosponsored by the Collateral Risk Network and AEI International Center on Housing Risk — which will focus on new mortgage and collateral risk measures and their applications.

Event Registration is Closed
Thursday, September 18, 2014 | 2:15 p.m. – 3:00 p.m.
Speaker of the House John Boehner on resetting America’s economic foundation

Please join us as Speaker John Boehner (R-OH) delivers his five-point policy vision to reset America’s economy.

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Friday, September 19, 2014 | 9:15 a.m. – 11:00 a.m.
Reforming Medicare: What does the public think?

Please join us as a panel of distinguished experts explore the implications of the report and the consumer role in shaping the future of Medicare.

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