Explore by…

More

Private Debt

Apr 6–8, 2018 | 18:00 – 13:15 Download .ics

New York |

Download program

This event is invitation only

With the support and partnership of the Governor’s Woods Foundation, the Institute for New Economic Thinking will convene top scholars for the Private Debt Initiative

The two-day conference will drive cutting-edge private debt scholarship, led by INET’s Chairman, Adair Turner and convene prominent scholars of private debt to address the following (non-exhaustive) questions:

  1. Theoretically, how do we go past the Bernanke conundrum? Ben Bernanke’s summary to dismiss the concerns surrounding private debt “Since one unit’s liability is another unit’s asset, changes in leverage represent no more than a redistribution for one group (debtors) to another (creditors) …and should have no significant macroeconomic effects” appears clearly mistaken. Yet, we have no clear theoretical framing of the concerns surrounding private debt. Which are the more fruitful avenues through which to approach the question of macroeconomic performance and private debt?
  2. How does one address the relationship between private debt growth and policy? Is private debt growth the inevitable consequence of public sector consolidation? How should one think about the effect of monetary and fiscal policy on private debt growth-both have effects that are not adequately recognized.
  3. What are the empirical challenges in understanding the growth of private debt? What concerns are there as to what key lacunae exist and what may be being missed by the current data generating methods?
  4. In a world of global capital mobility, how should one think about the international dimensions of private debt build up? These concerns are now beginning to be of concern in non-OECD countries such as China or India as well.
  5. What is the best forms of combating the malign effects of excessive private debt? What tools are available and what need to be constructed? How can these be managed?

At the end of the workshop, we will put together a report on the proceedings and create a pathway for more and better research along all these dimensions. The hope is that this becomes a catalyst for a much more extensive and long-term engagement with the issues.

Partners and sponsors

Speakers

Meet the leaders and scholars whose new thinking guides our work. View all speakers

  • Rob Johnson

    Senior Fellow and Director, Franklin and Eleanor Roosevelt Institute

  • Richard Vague

    Managing Partner, Gabriel Investments

    Chair, The Governor's Woods Foundation

  • Adair Turner

    Former Chairman, United Kingdom Financial Services Authority

  • Stephanie Kelton

    Professor of Public Policy and Economics, Stony Brook University

  • Gauti Eggertson

    Associate Professor, Brown University

  • Steven Fazzari

    Professor of Economics, Washington University

  • Mario Seccareccia

    Professor of Economics, University of Ottawa

  • Alan Taylor

    Director, Center for the Evolution of the Global Economy, UC Davis

  • Moritz Schularick

    Professor of Economics and Economic History, John F. Kennedy Institute of the Free University of Berlin

  • Karen Dynan

    Professor of Practice, Harvard University

  • Dirk Bezemer

    Associate Professor , University of Groningen

  • Barry Cynamon

    Visiting Scholar, Federal Reserve Bank of St. Louis Center for Household Financial Stability

  • J. W. Mason

    Assistant Professor of Economics, John Jay College

  • Perry G. Mehrling

    Professor of Economics, Barnard College

  • Pavlina R. Tcherneva

    Chair, Department of Economics, Bard College

    Associate Professor of Economics, Bard College

  • Till van Treeck

    Professor, University of Duisburg-Essen

  • Richard Koo

    Chief Economist, Nomura Research Institute

  • Joëlle Leclaire

    Associate Professor, State University of New York, Buffalo

  • Mathias Drehmann

    Principal Economist, Bank for International Settlements

  • Nico Valckx

    Senior Economist, International Monetary Fund

  • Matthew Baron

    Assistant Professor of Finance, Cornell University