Many economists argue that fixing inequality should not come at the expense of innovation. Philippe Aghion discusses the role innovation has to play in fostering growth and social mobility. This video was recorded at the RES annual conference in Spring 2015.
Video Vox
John Van Reenen 23 March 2018
Competition can foster productivity by eliminating unproductive firms out of the market. John Van Reenen discusses the impact of management quality on productivity - and how this is influenced by market forces. This video was published by the CORE Project.
Jean Tirole, John Vickers, Eric Maskin 21 March 2018
Jean Tirole's work on industrial organisation led to him being awarded the 2014 Nobel Prize in Economics. In this video, Eric Maskin and John Vickers discuss the significance of Tirole's work in understanding market regulation. This video was originally published by the European Economic Association.
Jon Danielsson, Jean-Pierre Zigrand 19 March 2018
Nearly ten years on from the Global Crisis, systemic risk continues to threaten global economic stability. Using the analogy of London's Millennium Bridge, in this video Jon Danielsson and Jean-Pierre Zigrand explain systemic risk as the result of agents behaving rationally at the individual level to protect their own interests. This video was originally published by the LSE's Systemic Risk Centre.
Charles Bean 15 March 2018
Interest rates are near zero and inflation is even lower. Professor Sir Charles Bean, former Deputy Governor at the Bank of England and President of the Royal Economic Society, talks to Mark Thoma about the importance of clear communication in such uncertain times. The interview was recorded at the Royal Economic Society annual conference at The University of Manchester in Spring 2015 and produced by Econ Films.
Mark Aguiar 13 March 2018
In the traditional framework, sovereigns face default if they cannot repay maturing debt. Mark Aguiar discusses the concept of 'rollover crises', in which sovereigns can find new debt to pay off maturing debt - but at high spreads. He proposes a way to structure this ahead of time, that reduces the cost to the government. This video was published by the ADEMU Project in November 2016.
Jonathan Eaton 09 March 2018
The sovereign debt crisis no doubt heavily impacted the Euro Area as it ran its course, but its longer-term implications for the evolution of Europe remain unclear. Jonathan Eaton discusses some of the similarities and differences between the sovereign debt problems of the 1970s-80s and today, and their implications for the future. This video was published by the ADEMU Project in November 2016.
Alexandra D'Onofrio 07 March 2018
Weak bank lending and low corporate investment have plagued Europe since the Global Crisis. In this video, Alexandra D'Onofrio investigates whether there is a link between high debt before the Crisis and low investment during it, based on firms' choices about their financial structures. These findings can help create institutional frameworks that help firms strengthen their finances and protect themselves from similar vulnerabilities in the future. This video was recorded at the RELTIF book launch held in London in January 2018.
Marco Onado 01 March 2018
The Global Crisis continues to cast a show over Europe in the form of the persistent weakness of its financial systems. In this video, Marco Onado discusses the role of non-performing loans (NPLs) in causing these weaknesses, and suggests how they could be resolved using a form of securitisation that imposes limited costs on both the banks and public finance. This video was recorded at the RELTIF book launch held in London in January 2018.
Andrea Polo 12 February 2018
European banks have responded in different ways to monetary interventions in the last few years. In this video, Andrea Polo discusses the central role monetary policy has taken in Europe, along with its limitations. While the ECB has created substantial liquidity through quantitative easing, these large injections of liquidity may not have been fully passed on to the real economy. This video was recorded at the RELTIF book launch held in London in January 2018.