Location: Bowdoin / Economics / Events / Spring 2013

Economics

Spring 2013

Economics Dept Seminar Series: Matthew Nagler

Economics Dept Seminar Series: Matthew Nagler

April 25, 2013 4:00 PM  – 5:00 PM
Hubbard Hall, Room 208 Thomas F. Shannon Room

Matthew Nagler joins us from The City College of New York to give his paper, "Freedom of, and from, Choice: Evidence from Australian Elections,"  as part of our Spring Seminar Series.

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Stephen Meardon presents: Hegemonic Reminiscences: Charles Kindleberger and the 1948 Monetary Reform in Western Germany

Stephen Meardon presents: Hegemonic Reminiscences: Charles Kindleberger and the 1948 Monetary Reform in Western Germany

April 23, 2013 12:00 PM  – 1:00 PM
Moulton Union, Main Lounge

FACULTY SEMINAR SERIES

Stephen J. Meardon, Assistant Professor of Economics is the featured speaker.  His talk is titled Hegemonic Reminiscences: Charles Kindleberger and the 1948 Monetary Reform in Western Germany.

Open to faculty and staff only.
Buffet lunch $3, or bring your own lunch.

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Monetary Theory at MIT

Monetary Theory at MIT

April 18, 2013 4:00 PM  – 6:00 PM
Hubbard Hall, Room 208 Thomas F. Shannon Room

Perry Mehrling, Professor of Economics at Barnard College and author of The New Lombard Street, joins us as part of the Economics Department Spring Seminar Series. 

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The New Lombard Street: Modern Money and the Financial Crisis

The New Lombard Street: Modern Money and the Financial Crisis

April 17, 2013 7:30 PM  – 8:45 PM
Searles Science Building, Room 315

Perry Mehrling, professor of economics at Barnard College, Columbia University comes to Bowdoin to give a talk based on his book, The New Lombard Street: How the Fed Became the Dealer of Last Resort.  Published by Princeton University Press in 2010, the book's title references Walter Bagehot's 1873 Lombard Street, published in the wake of a devastating London bank collapse.  Bagehot explained in clear and straightforward terms why central banks must serve as the lender of last resort in order to ensure liquidity in a faltering credit system and his book set down the principles that helped define the role of modern central banks, particularly in times of crisis.  The recent global financial meltdown, however, has posed unforeseen challenges.  Mehrling's New Lombard Street lays out the innovative principles needed to address the instability of today's markets and to rebuild our financial system.

Revealing how we arrived at the current crisis, Mehrling traces the evolution of ideas and institutions in the American banking system since the establishment of the Federal Reserve in 1913. He explains how the Fed took classic central banking wisdom from Britain and Europe and adapted it to America's unique and considerably more volatile financial conditions. Mehrling demonstrates how the Fed increasingly found itself serving as the dealer of last resort to ensure the liquidity of securities markets--most dramatically amid the recent financial crisis. Now, as fallout from the crisis forces the Fed to adapt in unprecedented ways, new principles are needed to guide it. In The New Lombard Street, Mehrling persuasively argues for a return to the classic central bankers' "money view," which looks to the money market to assess risk and restore faith in our financial system.

Sponsored by the Lectures & Concerts General Fund and the Economics Department


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