Video Vox

Stephen Cecchetti 25 June 2018

Though central banks do not seem concerned about being driven obsolete by cryptocurrencies, some are considering issuing digital currencies with similar technology. Stephen Cecchetti discusses three policy implications this might have, namely for restricting the illegal use of cash, allowing for negative interest rates, and improving financial access. All three are possible, but come with risk.

Alminas Žaldokas 21 June 2018

Investors ask companies for greater information disclosure in order to make better investment decisions. Alminas Žaldokas discusses his research on whether increased disclosure to investors may be helping firms collude on prices, harming consumers. This video was recorded at CEPR's Third Annual Spring Symposium.

Paul Tucker 18 June 2018

The last few decades have seen a shift of power from elected to unelected officials - inlcuding central bankers, regulators, and the judiciary. Sir Paul Tucker introduces his research on how the broad mandate given to independent policymakers is at odds with their ability to retain power when their policies fail. This video was recorded at the Imperial College Business School.

Ralph De Haas 15 June 2018

In the 2015 Paris Agreement, participating countries committed to trying to limit the increase in the global temperature to no more than 2 degrees, requiring a major transition in the way we produce products and services. Ralph de Haas explains his research on how this Green Transition can be financed, and whether certain types of finance - in particular stock vs. credit markets - are better suited to achieving 'greener growth'. This video was recorded at CEPR's Third Annual Spring Symposium.

Dave Donaldson 11 June 2018

Examples of geographical clustering in industries, such as Silicon Valley, suggest that firms have potentially positive external effects on other firms' productivities. Dave Donaldson discusses his research on the extent to which this is taking place, the strength of these economies of scale - for firms, workers, and consumers - and the role the government can play to foster this. This video was recorded at the 2018 RES Conference.

Antonio Cabrales 07 June 2018

The Great Moderation was characterised by a period of risk-pooling. Antonio Cabrales discusses his research on the socially optimal design of financial networks for tackling the trade-off between risk sharing and contagion. When firms face heterogeneous distributions of risks, they should optimally form linkages only with firms facing risks of the same kind.

Andara Kamara 06 June 2018

Policymakers use microsimulation models to gauge the impact of policies across the economy. Andara Kamara discusses the work of the IFS with the Ghanaian government, which uses such models to better understand the impact of a range of taxes on different demographic groups, particularly in the absence of historical data.

Maristella Botticini 31 May 2018

There is a common misconception that the reason Jewish people are prominent in certain high-skilled and specialised professions is because of historical restrictions on the jobs they were allowed to hold. Maristella Botticini shows why this assumption is wrong, and that the real reason lies in parents' education investment decisions dating back 2,000 years. This video was recorded at the 2018 annual RES conference.

Ross Warwick 29 May 2018

Similarly to advanced economies, developing countries often subsidise VAT rates on food and other basic goods and services. Ross Warwick discusses his research at the IFS, which suggests these subsidies may in fact disdvantage the poorest, because the subsidised goods and services are consumed disproportionately more by richer households.

Botond Köszegi 25 May 2018

Classical economics holds that regulation prevents individuals from making free decisions about purchases, by limiting their range of choices. Botond Kőszegi discusses his research that suggests this may not be the case. For complex purchase decisions involving contracts, regulation informs the way individuals search the marketplace, and enables them to search a greater range of products. This video was recorded at the 2018 RES Conference.

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