SAFE Policy Lecture: John H. Cochrane (Hoover Institution, Stanford University)
Title: 10 Years After the Crisis, Is the Financial System Safer?
Speaker: John H. Cochrane (Hoover Institution, Stanford University)
Moderator: Ester Faia (Goethe University and CEPR)
Is the financial system safer, 10 years after the crisis? John Cochrane will review the state of financial regulation (in simple terms!). There has been considerable intellectual progress. A general consensus has emerged that lots of capital is the only real answer, and that it is a realistic and plausible approach. Sadly, progress on raising capital has stymied. Getting more capital in place before the next crisis comes – unexpectedly, as always – is a vital step.
John H. Cochrane is the Rose-Marie and Jack Anderson Senior Fellow of the Hoover Institution at Stanford University and Distinguished Senior Fellow of the University of Chicago Booth School of Business. His monetary economics publications include articles on monetary policy and the fiscal theory of the price level. His finance publications include the book Asset Pricing, and articles on dynamics in stock and bond markets, volatility of exchange rates, term structure of interest rates, returns to venture capital, liquidity premiums in stock prices, relation between stock prices and business cycles, and option-pricing when investors cannot perfectly hedge. He has also written articles on macroeconomics, health insurance, time-series econometrics, financial regulation, and other topics. Cochrane is also Research Associate at the National Bureau of Economic Research.
Ester Faia is Professor in Monetary and Fiscal Policy at the Goethe University, Frankfurt. Her research focuses on the fields of monetary, banking, and labor markets. She holds a PhD in economics from the New York University and is a research fellow at Centre for Economic Policy Research, Kiel IfW and Center for Financial Studies.
The SAFE Policy Lecture Series aims at fostering debates on policy-relevant issues.