10 Years After the Failure of Lehman Brothers: What Have We Learned?

The OECD, NAEC and partners for a New Economy, held a meeting in Paris on 13-14 September 2018 directed to this question. Bill White was a panel member commenting on a presentation by Maurice Obstfeld, Chief Economist of the IMF. Given that the panel was at the end of the proceedings, Bill gave his answer to the question, conditioned by what he had heard during the conference. He concluded that we had not learned much, since thepolicies followed post crisis were “more of the same” policies folowed pre-crisis. To achieve a true paradigm shift will require economists embacing the idea that the economy is not a machine, but  a complex, adaptive system like many others in nature and society.

Posted by williamw in Presentations

Presentation to the Ambassadors to the OECD

William White, as chairman of the Economic and Development Review Committee at the OECD, was invited to speak to the Ambassadors at their annual retreat on the topic of the future work program of the OECD. He gave strong support to the OECD project called NAEC, New Approaches to Economic Challenges. This project was initiated by the Secretary General in recognition of the shortcomings of the analytical appraches relied upon prior to the crisis, which failed to see the crisis coming and also failed to predict both its magnitude and duration.

Posted by williamw in Presentations

Central Banks and Macroprudential Policies: Who Does What?

In this presentation, William White suggests criteria for allocating  the respsonsibility for macroprudential policies between domestic institutions. He concludes that there are strong grounds for the central bank playing a leading role, particularly with policies designed to prevent crises.


Posted by williamw in Presentations