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Collusive Bidding: Lessons from the FCC Spectrum Auctions
Auctions Collusion Multiple Object Auctions Spectrum Auctions
2015/9/18
The Federal Communications Commission (FCC) spectrum auctions use a simultaneous
ascending auction design. Bidders bid on numerous communication licenses
simultaneously, with bidding remaining ope...
Comments on ‘Three Lessons for Monetary Policy in a Low Inflation Era’ by David Reifschneider and John Williams,’
Three Lessons Monetary Policy
2015/8/4
This paper by David Reifschneider and John Williams is a useful and innovative
analysis of monetary policy problems caused by the lower bound of zero on the nominal
interest rate. The authors provid...
Lessons Learned from the Implementation of Inflation Targeting
Implementation Inflation Targeting
2015/8/3
Lessons Learned from the Implementation of Inflation Targeting.
Lessons from the Recovery from the ‘Lost Decade’ in Japan: The Case of the Great Intervention and Money Injection
Great Intervention Money Injection
2015/8/3
In the last three years, the Japanese economy has improved greatly compared to
the decade-long period of near zero economic growth and deflation that began in the
early 1990s. Once again Japanese ec...
Lessons of the Financial Crisis for the Design of the New International Financial Architecture
Financial Crisis International Financial Architecture
2015/8/3
Thank you for inviting me to give this keynote address. In my remarks at the
policy panel earlier today (“The 2002 Uruguayan Financial Crisis Five Years Later”) I
spoke about the details of the Urug...
Getting Back on Track: Macroeconomic Policy Lessons from the Financial Crisis
Macroeconomic Policy Financial Crisis
2015/8/3
This article reviews the role of monetary and fiscal policy in the financial crisis and draws lessons
for future macroeconomic policy. It shows that policy deviated from what had worked well in the
...
Lessons from the Financial Crisis for Monetary Policy in Emerging Markets
Monetary Policy Emerging Markets
2015/8/3
I am honored to give this lecture in memory of L.K. Jha. It is a particular privilege to
deliver it at this Platinum Jubilee celebration of the Reserve Bank of India. L. K. Jha was a truly
outstandi...
Congratulations to the National Bureau of Economic Research on the
twenty-fifth anniversary of the Macroeconomics Annual conference series,
and thanks to all the editors over the years—Stanley Fisch...
Monetary Policy During the Past 30 Years With Lessons for the Next 30 Years
Monetary Policy Lessons
2015/8/3
Considering the overall performance of the American economy,
the past 30 years divide naturally into two parts. During the first
part—roughly the first two-thirds—economic performance was quite
goo...
Carbon in the Classroom: Lessons from a Simulation of California’s Electricity Market Under a Stringent Cap-and Trade System
Classroom Electricity Market
2015/7/31
To better understand how a cap-and-trade market might
function under high-carbon-price conditions, the authors
ran a simulation called the ‘Electricity Strategy Game’
created by Severin Borenstein ...
Lessons from International Experience with Electricity Market Monitoring
Electricity Market Monitoring International Experience
2015/7/31
This paper first describes those features of the electricity supply industry that
make a prospective market monitoring process essential to a well-functioning wholesale
market. Some of these featu...
Ten Myths About Competitive Electricity Markets: Lessons for Designing Congestion Management Protocols
Competitive Electricity Markets Management
2015/7/31
In the extreme cases mentioned above [industry re-structuring of the
form implemented in the United Kingdom], many of the dispatch and
scheduling methods we are going to discuss will need to be re-t...
Institutions and international trade:lessons from the commercial revolution
Institutions and international trade commercial revolution
2015/7/20
Institutions and international trade:lessons from the commercial revolution。
Markets for Pollution Allowances:What Are the (New) Lessons?
Markets for Pollution Allowances What Are the (New) Lessons
2015/7/17
Markets for Pollution Allowances:What Are the (New) Lessons?
Democracy,War,and Wealth:Lessons from Two Centuries of Inheritance Taxation
Democracy War Wealth Two Centuries of Inheritance Taxation
2015/6/5
In this article we use an original data set to provide the first empirical analysis of the political economy of inherited wealth taxation that covers a significant number of countries and a long time ...