Booms and Busts: Are We Better Able to Deal with Them Today?
IMF SEMINAR EVENT
DATE: April 21, 2018
DAY: Saturday
4:00 PM - 5:15 PM
LOCATION: IMF HQ1 – Meetings Halls A&B
Overview
Financial crises are associated with boom—bust cycles in credit and housing prices. A consensus has emerged that booms are dangerous, although not all lead to crises. The challenge for policy makers is to identify booms and bubbles and decide whether to act on them. Yet all too often, policymakers believe that “this time is different.” At present, many markets are booming amid calls to roll back some measures put in place after the global financial crisis. There are also concerns that innovative technologies may give rise to “shadow booms.” The seminar will discuss what we know about boom—bust cycles, how we identify “bad” booms, and how to manage them, and how to limit the potential for busts.Join the conversation via #BoomsandBusts
Booms and Busts: Are We Better Able to Deal with Them Today?
Panelists
Moderator: Joumanna Bercetche
Panelist: David Lipton
Panelist: Agustín Carstens
Mr. Carstens was Governor of the Bank of Mexico from 2010 to 2017. A member of the BIS Board from 2011 to 2017, he was chair of the Global Economy Meeting and the Economic Consultative Council from 2013 until 2017. He also chaired the International Monetary and Financial Committee, the IMF's policy advisory committee from 2015 to 2017. Mr Carstens began his career in 1980 at the Bank of Mexico. From 1999 to 2000, he was Executive Director at the IMF. He later served as Mexico’s deputy finance minister (2000–03) and as Deputy Managing Director at the IMF (2003–06). He was Mexico's finance minister from 2006 to 2009. Mr Carstens has been a member of the Financial Stability Board since 2010 and is a member of the Group of Thirty. Mr Carstens holds an MA and a PhD in economics from the University of Chicago.