“Where to from here?” Remarks by William White at a symposium sponsored by the Federal Reserve Bank of Chicago, 23 September 2010
Sept_24_2010_FRBCPanelonRegulatory Reform.pdf
Sept_24_2010_FRBCPanelonRegulatory Reform_0Symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole Wyoming, August 2010
Aug_2010_Comments on After the Fall atJH.pdf
Aug_2010_Comments on After the Fall atJHBy Scott Lanman and Simon Kennedy
Publication: Bloomberg Date: 22 August 2010 23Aug2010_Bernanke Must Raise Benchmark 2 Points in Latest Rajan Warning.pdf
23Aug2010_Bernanke Must Raise Benchmark 2 Points in Latest Rajan WarningPrepared for the First International Research Conference on ‘Challenges to Central Banks in the Context of the Financial Crisis’ – sponsored by the Reserve Bank of India, Mumbai 11 13 February 2010
_0213_ResBankInddoc
Comments on Stephen Roach’s paper in Session III, First International Research Conference organised by the Reserve Bank of India, during February 12, 13 2010 – Mumbai
The global economy is in a big mess and, even though the analytical models do not show it, it is becoming increasingly accepted that excessive credit growth was somehow at the heart of this whole thing. The question now is what are we going to do to avoid such problems in the future?
RBI_Comments_Roach_200810Comments by William White on William Poole’s session prepared for the First International Research Conference, “Challenges to Central Banks in the context of the Financial Crisis” sponsored by the Reserve Bank of India , February 2010)
While the title of this session implies a focus on crisis management, the author has complemented such considerations with a number of comments on crisis prevention. I will indulge myself by doing the same.
020310_CommentsonPooley Daan Killemaes;
Publication: Trends / Trends Date: 26 November 2009 261109_Daan Killemaes-Trends.pdf
261109_Daan Killemaes-TrendsGlobalisation and Monetary Policy Institute, Working Paper no 34 Federal Reserve Bank of Dallas 2009
It has been contended by many in the central banking community that monetary policy would not be effective in “leaning” against the upswing of a credit cycle (the boom) but that lower interest rates would be effective in “cleaning” up (the bust) afterwards.
0809_Leanorclean Dallas_0Jahrelang hat William White die Politik des billigen Geldes kritisiert – ohne gehört zu werden. In der Krise wollen nun viele Regierungen seinen Rat.
Publication: YWirtschaft Date: 26 July 2009 250709_NZZ_white_1[1].pdf
LSE Financial Markets Group and Deutsche Bank Conference on “The structure of regulation: Lessons from the crisis of 2007”
Conference sponsored by LSE and Deutsche Bank – 3 March 2008
While it is tempting to focus on new financial innovations in helping explain recent financial turmoil, more traditional causes should not be overlooked. As on many previous occasions, very rapid credit growth led to major increases in asset prices, which in turn encouraged consumption and investment decisions which could yet prove unsustainable. It is suggested in this presentation that the natural “procyclicality” of the financial system could be contained through the introduction of a “New Macrofinancial Stability Framework”. It is recognised that there are many practical impediments to realising such a suggestion, but there are also grounds for belief that these impediments could be removed.
2008 03_White panel intervention LSE conference_ 3 March 2008.pdf