Distinguished Lecture Series, Edition II: On April 20th, the Department of International Studies welcomed noted Peruvian economist, Dr. Daniel Schydlowsky (pictured at right with our Chair, Dr. Richard Weisskoff) to Storer Auditorium on the Coral Gables campus, for Edition II of the Distinguished Lecture Series. Dr. Schydlowsky, a PhD in Economics (Harvard), Former Superintendent of Banking and Insurance (SBS) of Peru, and Recipient of the Edward W. Claugus Award for Financial Inclusion Leadership (2015), delivered an inspiring talk focused on the greater societal benefits to be found in bank regulations designed to mitigate social conflict. Aimed at his native case of Peru, a nation that generates the majority of its foreign exchange by way of extraction and export of its nonrenewable natural resources, Dr. Schydlowsky put forth an innovative model for how governments can work with their regulatory agencies to incentivize the financial sector to engage in socially responsible lending practices. See link to video of Dr. Schydlowsky's lecture (below):


Distinguished Lecture Series, Edition I:  On March 28th, the Department of International Studies welcomed two esteemed economists to Storer Auditorium on the Coral Gables campus to inaugurate the Distinguished Lecture Series, with thanks to our Chair, Dr. Richard Weisskoff.  Ms. Piroska Nagy Mohacsi, Programme Director of the Institute of Global Affairs at The London School of Economics, and Dr. Mario Blejer (left), Former Governor of the Central Bank of Argentina (2001-2002), spoke on the subjects of monetary policy and central bank independence in the contemporary period following the Great Recession.

After the 2008 global financial crisis, central banks in advanced industrialized countries followed by those in developing countries have engaged in so-called "unconventional monetary policies" also referred to as "forward guidance."  Such measures include quantitative easing (QE) and the pursuit of negative interest rates.  In a departure from the post-Cold War traditions of inflation targeting, these post-2008 measures have signalled an entirely new era where monetary policy is concerned, and in partcular concerning the role of central banks as macroeconomic and political actors. Given that such measures are unprecedented, a debate among academics and policymakers has emerged as to what are the transmission channels of QE, what are the long-term implications, and how the real economy is being affected.

Ms. Nagy Mohacsi (below left) and Dr. Blejer (below right) kindly led this fascinating inaugural talk for the Distinguished Lecture Series, collectively interpreting the complexities of twenty-first century macroeconomic policymaking before an audience of faculty, students, and other members of the University Community.  For their conclusions, Nagy Mohacsi and Blejer elaborated upon the possible outcomes for both advanced and emerging countries, in addition to presenting their own disagreements as to likely future global macroeconomic scenarios.  See link to video of Ms. Nagy Mohacsi's and Dr. Blejer's lecture (below):