http://www.project-syndicate.org/series/finance_in_the_21st_century <p><em>Is the dollar doomed? Can increased regulation and financial innovation co-exist? What makes housing markets suddenly turn "hot" or "cold"? Why should long-term bond prices shoot up and down in a single year? Can financial globalization be effectively regulated without stifling growth?</em></p> en 2012-02-10T06:00:46+01:00 webmaster@project-syndicate.org Howard Davies, Robert J. Shiller 1994-01-01T00:00:00+01:00 4 hourly http://www.project-syndicate.org/commentary/shiller81/English <a href=http://www.project-syndicate.org/commentary/shiller81/English>DAVIES/SHILLER: Does Austerity Promote Economic Growth?</a> Policymakers cannot afford to wait decades for economists to figure out definitively how government austerity affects growth. But, judging by the evidence that we have, austerity programs in Europe and elsewhere appear likely to yield disappointing results. Robert J. Shiller 2012-01-18T00:00:00+01:00 http://www.project-syndicate.org/commentary/davies17/English <a href=http://www.project-syndicate.org/commentary/davies17/English>DAVIES/SHILLER: London vs. the Eurozone</a> David Cameron's veto of the plan to save the euro was a big gamble, and suggests that the UK is shuffling towards the EU exit. Howard Davies 2011-12-14T00:00:00+01:00 http://www.project-syndicate.org/commentary/shiller80/English <a href=http://www.project-syndicate.org/commentary/shiller80/English>DAVIES/SHILLER: The Neuroeconomics Revolution</a> Economics is at the start of a revolution that is traceable to an unexpected source: medical schools and their research facilities. Neuroscience – the science of how the brain works – is beginning to change the way we think about how people make decisions. Robert J. Shiller 2011-11-21T00:00:00+01:00 http://www.project-syndicate.org/commentary/davies16/English <a href=http://www.project-syndicate.org/commentary/davies16/English>DAVIES/SHILLER: The Bankers’ Capital War</a> Almost everyone nowadays agrees that banks need more capital. But a wide gap has opened up between financial authorities and the banks on the costs and benefits of the much higher capital requirements that regulators are now demanding. Howard Davies 2011-10-19T00:00:00+02:00 http://www.project-syndicate.org/commentary/shiller79/English <a href=http://www.project-syndicate.org/commentary/shiller79/English>DAVIES/SHILLER: The Great Debt Scare</a> Most confidence indices today are based on survey questions that ask respondents to assess the economy today or in the near future. But what today's debt fears in Europe and the US really reflect – and what is holding back consumption and investment – is widespread anxiety about long-term economic prospects. Robert J. Shiller 2011-09-23T00:00:00+02:00 http://www.project-syndicate.org/commentary/davies15/English <a href=http://www.project-syndicate.org/commentary/davies15/English>DAVIES/SHILLER: Europe’s Financial Wasteland</a> “April is the cruelest month,” wrote T.S. Eliot at the beginning of his great poem, “The Waste Land.” But, if Eliot had been a professional investor who had observed European financial markets over the last few years, his choice most likely would have been August. Howard Davies 2011-08-19T00:00:00+02:00 http://www.project-syndicate.org/commentary/shiller78/English <a href=http://www.project-syndicate.org/commentary/shiller78/English>DAVIES/SHILLER: Debt and Delusion</a> The fundamental problem for much of the world today is that investors are overreacting to debt-to-GDP ratios, fearful of some magic threshold, and demanding fiscal-austerity programs too soon. We should worry less about debt ratios and thresholds, and more about our inability to see these indicators for the often-irrelevant constructs that they are. Robert J. Shiller 2011-07-21T00:00:00+02:00 http://www.project-syndicate.org/commentary/davies14/English <a href=http://www.project-syndicate.org/commentary/davies14/English>DAVIES/SHILLER: Chinese Finance Comes of Age</a> Back in 2002, all of China’s major banks were awash in non-performing loans, which in some cases amounted to more than 10% of the total balance sheet. Less than a decade later, much has changed – with some important lessons for Western regulators. Howard Davies 2011-06-23T00:00:00+02:00 http://www.project-syndicate.org/commentary/shiller77/English <a href=http://www.project-syndicate.org/commentary/shiller77/English>DAVIES/SHILLER: Economy, Insure Thyself</a> If countries covered their risks by issuing a different kind of national debt, tied to their own GDP or a similar measure of economic success, many would have a much debt burden today. Just ask Japan. Robert J. Shiller 2011-05-27T00:00:00+02:00 http://www.project-syndicate.org/commentary/davies13/English <a href=http://www.project-syndicate.org/commentary/davies13/English>DAVIES/SHILLER: Reforming Bank Reform</a> Over the last three years, oceans of ink (or bytes) have been expended on articulating schemes to solve the conundrum of “too big to fail” banks. But a new report by the UK's Independent Banking Commission casts serious doubt on the main proposals for reform. Howard Davies 2011-04-18T00:00:00+02:00 http://www.project-syndicate.org/commentary/shiller76/English <a href=http://www.project-syndicate.org/commentary/shiller76/English>DAVIES/SHILLER: Bubble Spotting</a> Forecasting the next speculative bubble is a bit like predicting who will be running the government two elections from now. But some places appear a little more likely than others to give rise to bubbles, and right now one of those places is farmland. Robert J. Shiller 2011-03-22T00:00:00+01:00 http://www.project-syndicate.org/commentary/davies12/English <a href=http://www.project-syndicate.org/commentary/davies12/English>DAVIES/SHILLER: Sarkozy’s Moment</a> The international system of financial regulation remains a spider’s web of committees, councils, and agencies with overlapping responsibilities, unrepresentative memberships, and inadequate enforcement powers. President Nicolas Sarkozy of France, which chairs the G-20 this year, should push for a modicum of global coordination and consistency. Howard Davies 2011-02-21T00:00:00+01:00 http://www.project-syndicate.org/commentary/shiller75/English <a href=http://www.project-syndicate.org/commentary/shiller75/English>DAVIES/SHILLER: A People’s Economics</a> The financial crisis has deflated professional economists' scientific pretensions, because they failed to predict it. Part of the process of pursuing the inexact aspects of economics must be speaking honestly to the broader public, learning from them, and then searching one’s soul to decide whether one's favored theory is really close to the truth. Robert J. Shiller 2011-01-20T00:00:00+01:00