Perry G. Mehrling

Involvement

Perry G. Mehrling is professor of economics at Pardee School of Global Studies at Boston University. He was professor of economics at Barnard College in New York City for 30 years. There, he taught courses on the economics of money and banking, the history of money and finance, and the financial dimensions of the U.S. retirement, health, and education systems. His most recent book is The New Lombard Street: How the Fed became the dealer of last resort (Princeton 2011). His best-known book Fischer Black and the Revolutionary Idea of Finance (Wiley 2005, 2012) has recently been released in a revised paperback edition. Currently, Prof. Mehrling directs the educational initiatives of the Institute for New Economic Thinking, one of which is his course Economics of Money and Banking, available on Coursera at www.coursera.org/course/money.


By this expert

Mehrling on Soros

Article | Apr 16, 2012

The text below is the comment I offered on Mr. Soros’ opening speech at INET’s Berlin Conference April 12, 2012. The text of Mr. Soros’ own speech is here. Video of the entire session is below—my bit starts at 55:00.

World Without Money Reconsidered

Article | Apr 7, 2012

FT Alphaville has picked up on my friend James Sweeney’s latest, and since James cites the latest writings by other friends Zoltan Pozsar, Manmohan Singh, as well as my own most recent, the piece reads like a discussant’s comments on a shadow banking symposium.

Renminbi Swap Lines

Article | Mar 28, 2012

Last week the central banks of China and Australia announced the creation of a $31bn currency swap line

Eurocrisis Redux

Article | Mar 12, 2012

Entangling alliances or entangling leagues are nothing to the entanglements of cash owing—Keynes

Featuring this expert

Macroeconomics From the Bottom Up

Video | Aug 30, 2011

In 2006, the Fed asked its macroeconometric model what would happen if house prices dropped by 20%. The model projected the past into the future and said: “Not much.” Well, the financial crisis proved it wrong.

Measuring Systemic Risk To Empower the Taxpayer

Video | Aug 22, 2011

Banks take on excessive risk since they know, in case of failure, the taxpayer will step in to rescue them. That is a form of free insurance, and Ed Kane wants to end it.

How Government Helps, and Wall Street Hurts, the Innovative Enterprise

Video | Aug 21, 2011

Innovation drives economic growth and welfare, and the industrial corporation drives innovation, says William Lazonick. But just how do corporations innovate?

The Coase Theorem As Fiction

Video | Aug 17, 2011

When externalities are present and transaction costs are absent, private parties will strike welfare-enhancing deals regardless of who owns what. In a frictionless world, bargaining leads to efficiency. That is the essence of the Coase Theorem, and it is fiction, according to Steven Medema.