There is extensive research addressing questions of optimal capital structure. Studies typically focus on estimating the appropriate level …
Risk
The Relationship between Shareholder Return and CEO Pay over a...
The author reports the findings of his examination of the relationship between CEO pay and performance, as measured …

Risk Capital: Theory and Applications
After a brief review of the current theory and practice of risk capital by financial firms, the authors …
Columbia Business School Roundtable on Broken Models of Public Finance
Joe Biden’s chief economic adviser joins a proactive investor who was one of the largest private investors in …
The First Modern Financial Crises: The South Sea and Mississippi...
The twin South Sea and Mississippi bubbles of 1720 inaugurated the new age of modern finance. Both of …
The Euro @ 20: How Economic and Financial “Asymmetries” Marred...
The launch of the single currency in 1999 rekindled the European Union’s momentum toward deeper integration. And yet …
The Economic (Not Literary) Offenses of Michael Lewis: The Case...
In a shameless abuse of editorial prerogative, the editor of this journal uses Lewis’s bestseller as a pretext …
Apocalypse Averted: The COVID-Caused Liquidity Trap, Dodd-Frank, and the Fed
In an article published in this journal in 2012, the author challenged the conventional wisdom that a major …
Rethinking Macro Measurement
Economists have long recognized that widely reported and followed economic indicators such as GDP, productivity, and real wage …
The Poverty of Monetarism
In this edited transcript of a lecture presented in Beijing in December 2019, the author provides a critique …