Condliffe Memorial Lecture - Economics and Finance - University of Canterbury - New Zealand
JB Condliffe
John Bell Condliffe

 

Condliffe Memorial Lecture

The Condliffe Memorial Lecture was instituted in 2005 to honour John Bell Condliffe (pictured right) who became the first Professor of Economics at Canterbury University College in 1921.

The lecture series brings leading economists to Canterbury to provide a public lecture highlighting their recent work and its relevance to the broader business and policy community. The Condliffe Memorial Lecture is hosted by the Department of Economics and Finance and all staff, students, alumni and the public are welcome to attend.

 

2017 Lecture:
A Historical Perspective on the Challenge of Regulating Large Banks

Janet Currie

Presenter:
Andrew Atkeson
Stanley M. Zimmerman Professor of Economics and Finance, Director of Business Economics, UCLA

When: Monday 17 July 2017, 5:30 – 6:30pm
Where: LAW 108 Lecture Theatre, Business and Law Building
Resources: YouTube Video

In this lecture, Professor Atkeson reviewed the magnitude of U.S. banks' involvement in securities markets over the past 100 years, the history of regulatory responses to crises arising from that involvement, and what we can learn from newly collected data on the activities that are being financed in securities markets.

Abstract

From the start of the National Banking Era in the United States in 1864 through the financial reforms of the Great Depression, commercial banks in the United States were heavily involved in lending to support activities in securities markets and financial crises were a relatively frequent occurrence. Bankers themselves and regulators struggled to find restrictions on banking that would insulate the banking system from panics in securities markets without severing the links between the banking system and securities markets. After the Crash of 1929, regulators gave up and severed those links. By the time of the financial crisis of 2008, these links had grown back, and we all rediscovered the risks that arise from links through money markets between banks and securities markets. This talk will review the magnitude of U.S. banks' involvement in securities markets over the past 100 years, the history of regulatory responses to crises arising from that involvement, and what we can learn from newly collected data on the activities that are being financed in securities markets. The challenge of regulating large banks going forward lies in finding regulations that will insulate banking from panics in securities markets without fully severing the links between the two.

About the speaker

Andrew Atkeson is the Stanley M. Zimmerman Professor of Economics and Finance. He has held positions at the University of Chicago, the University of Pennsylvania, the University of Minnesota and the Federal Reserve Bank of Minneapolis before moving to UCLA in 2000. He has published papers in the American Economic Review, Econometrica, the Journal of Political Economy and the Quarterly Journal of Economics. He is has been awarded nine NSF grants and has been an Associate Editor of the American Economic Review, Review of Economic Studies and Quarterly Journal of Economics. His research spans a variety of topics in macroeconomics, including the sustainability of international debt, the design of monetary policy and the measurement of the firm solvency.

Past Condliffe Lectures

2017 Condliffe Memorial Lecture: Andy Atkeson "A Historical Perspective on the Challenge of Regulating Large Banks'

2016 Condliffe Memorial Lecture: Janet Currie "Early Life and the Roots of Economic Inequality"

2015 Condliffe Memorial Lecture: Terry Anderson "Environmental Markets: Lessons from and for Fisheries Management"

2014 Condliffe Memorial Lecture: David Card "The Economics of Immigration and Immigration Reform"

2013 Condliffe Memorial Lecture: Professor Edward Glaeser "What if our cities vanished?"

2012 Condliffe Memorial Lecture: John H. Cochrane "What if governments can't pay their debts?"

2011 Condliffe Memorial Lecture: Martin Weitzman "Why is the economics of climate change so difficult and controversial?"

2010 Condliffe Memorial Lecture: Charles Plott "The emergence of economics as a laboratory sciences"

2009 Condliffe Memorial Lecture: Hal Varian "Computer mediated transactions"

2008 Condliffe Memorial Lecture: Joel Slemrod, "Tax policy in the real world"

2007 Condliffe Memorial Lecture: Mark Blaug, "Congestion Charges: the solution to traffic problems?"

2006 Condliffe Memorial Lecture: Gene Grossman, "Trading Tasks: It's Not Wine for Cloth Anymore".

2005 Condliffe Memorial Lecture: Jerry Hausman, "Consumer Benefits from Increased Competition in Shopping Outlets: Measuring the Effect of Wal-Mart.