Here we go again? Silicon Valley Bank and the current banking crisis
Video and transcript from event
Defund the banks? The recent failures of Silicon Valley Bank, Sovereign Bank, and internationally, Credit Suisse, have brought new focus on banks, their ability to pay depositors, and the role of central banks in regulating and ensuring the stability of our financial system.
On March 29, 2023, HHEI hosted an impromptu discussion on the current banking crisis and policies going forward. Panelists:
V.V. Chari, Paul W. Frenzel Land Grant Professor of Liberal Arts
Terry Fitzgerald, Adjunct Professor and Retired Vice President, Federal Reserve Bank of Minneapolis
Christopher Phelan, Professor of Economics
Read the transcript of the event.
Watch the video recording.
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Suggested for further reading:
- (2016) "Bailouts, Time Inconsistency, and Optimal Regulation: A Macroeconomic View", V.V. Chari and Patrick J. Kehoe, The American Economic Review, vol. 106, no. 9.
- (2016) "A Proposal to Eliminate the Distortions Caused by Bailouts", V.V. Chari and Patrick J. Kehoe, Economic Policy Paper, Federal Reserve Bank of Minneapolis.
- (2014) “Too Correlated to Fail”, V.V. Chari and Christopher Phelan, Economic Policy Paper, Federal Reserve Bank of Minneapolis.
- (2014) “On the Social Usefulness of Fractional Reserve Banking”, V.V. Chari and Christopher Phelan, Journal of Monetary Economics, vol. 65: pp. 1–13.
- (2013) “The ‘Banks’ We Do Need”, V.V. Chari and Christopher Phelan, Economic Policy Paper, Federal Reserve Bank of Minneapolis.
- (2012) “What Assets Should Banks Be Allowed to Hold?”, V.V. Chari and Christopher Phelan, Economic Policy Paper, Federal Reserve Bank of Minneapolis.
- (2009) “Incentive Compensation in the Banking Industry: Insights from Economic Theory”, Christopher Phelan and Douglas Clement, Economic Policy Paper, Federal Reserve Bank of Minneapolis.
- (1989) "Banking Without Deposit Insurance or Bank Panics: Lessons from a Model of the U.S. National Banking System", V.V. Chari, Quarterly Review, Federal Reserve Bank of Minneapolis.
- (1988) "Banking Panics, Information, and Rational Expectations Equilibrium", V.V. Chari and Ravi Jagannthan, Journal of Finance, vol. XLIII, no. 3: pp. 749-761.
