He became a cross bench member of the House of Lords in 2006.
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If the government/CB together finance an increased fiscal deficit with permanent non-interest-bearing fiat money, then some private sector agents have to hold non-interest-bearing monetary base, and must continue to do so even when policy and market interest rates have moved away from the ZLB. How is this possible in an environment where most bank deposit money is potentially interest-bearing?
Any use of money-financed fiscal expansion as a policy tool will require rules to ensure discipline and avoid excess
Lord Adair Turner visited the Oxford Martin Lecture Theatre on Tuesday 24 November for a well-attended INET Oxford event launching his latest book ‘Between Debt and the Devil: Money, Credit, and Fixing Global Finance’ (Princeton University Press).
Join Columbia University Dean Merit E. Janow for a talk by Lord Adair Turner, Chairman, Institute for New Economic Thinking.
Featuring this expert
There is no good case for major deregulation of the US financial sector, warns INET Board Chairman Adair Turner, and any backsliding by a Trump administration on banks’ capital requirements instituted globally after 2008 will be very dangerous
Institute for New Economic Thinking launches a far-reaching research effort into causes and potential remedies for the low-to-no-growth malaise afflicting many of the world’s leading economies
Out of Ammunition? A discussion on central banking and secular stagnation with Larry Summers and Adair Turner
CEP Lecture by Adair Turner co-hosted with the IMF.