Modern day banking arose in fourteenth century Italy. Banca Monte dei Paschi di Siena, founded in 1472 in Siena, is currently the oldest operating bank in the world. The origins of the American banking system date back to 1780 with the founding of the Bank of Pennsylvania in Philadelphia. Its goal was to provide funding for the Continental Army that was fighting the Revoluti... Read More
Every story begins with a new chapter and on June 19, 2013 began one such story. This was the story of an impending economic collapse— that of the emerging markets (EMs). The press conference then Fed Chairman Ben Bernanke held that day will forever be etched in our memories for it caused ripples, albeit financial, across the world.
However, what were ripples in the west ... Read More
Janet Yellen cleared a crucial hurdle in her likely journey to becoming Fed Chair today: she passed her hearing before the Senate Banking Committee in a question-and-answer session that could only really be considered uneventful. Appelbaum of the NYT ... Read More
This year, as in last, I will follow the debate on Capitol Hill, sifting through the politics to illuminate the underlying economic debate. In these times of perpetual partisan bickering it is easy to overlook policy, in favor of politics.
For that reason, this blog will begin with an ode to outgoing Federal Reserve Chairman Ben Bernanke. Appointed by Republican President B... Read More
This editorial is written by Justin Scott Katiraei, Ben Sprung-Keyser, Andreas Schaab, Eugene Wang, Asfandyar Nadeem, and Bob Wu. While serving as Co-Editor-in-Chief of this publication, Katiraei also works with his co-authors to represent the Harvard Economics Department at the Federal Reserve. Katiraei, Sprung-Keyser, and Schaab have been together ranked by the Federal Reserve System as F... Read More