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What Does a 'Two-State Solution' Mean?

In light of what is going on the Middle East, and the efforts of US Secretary of State John Kerry to restart negotiations to reach a ''two-state'' solution to the Israel-Palestinian conflict, it is worth briefly summarizing solutions I write about 30 years ago.
The efforts of the United States and Europe to bring about a "two-state" solution in the Middle East are incomprehensible.

-Article by Reuven Brenner

Read full article: Asia Times, September 5, 2013

Published: 13 Sep 2013

Central Banks and Illusions of Independence

While much attention is now paid to personalities of incoming central bankers, far less attention is paid to debating central banks' mandates in light of the unusual fiscal and financial intermediary roles they have been fulfilling since 2008.

The crisis revealed institutional voids that the central banks filled quickly. Such ventures by central banks have been tolerated in the past too: there is nothing new about quantitative easing (QE). The Fed practiced it during the 1940-51 under the Treasury's explicit command, though the technique had no name then.

Published: 13 Sep 2013

As English Football Season Starts, Burma’s Gamblers Play the Odds

On a TV above the blue neon-lit bar in Rangoon’s Tamwe Township, the hapless-looking Arsenal manager Arsene Wenger grimaced, sputtering an indiscernible obscenity, his hands resting forlornly on his hips.

Published: 23 Aug 2013

The Paradox of Patent Assertion Entities

In March 2011, the Federal Trade Commission (FTC) released The Evolving IP Marketplace: Aligning Patent Notice and Remedies with Competition, its antitrust policy review of the patent marketplace in which it unveiled the term “patent assertion entities” (PAEs) as a substitute for the derisive term “patent trolls.”

Published: 14 Aug 2013

Restoring a Real Middle Class

In an interview last week, President Barack Obama correctly emphasized both that "upside mobility was part and parcel of who we were as Americans" and also that such mobility has been "eroding over the last 20, 30 years, well before the financial crisis". The question is: What can Washington do to remedy the situation?

-Article by Reuven Brenner

Published: 2 Aug 2013

Dobrobyt zależy od stopnia odpowiedzialności rządu przed obywatelami

Głosować na prawicę, czy lewicę? To prawie bez znaczenia, gdy wyborcy szybko mogą rozliczyć polityków. Dobrobyt nie zależy od wyniku wyborów, ale od tego, czy funkcjonują mechanizmy egzekwowania odpowiedzialności rządzących przed obywatelami i czy ludzie z pomysłami mają dostęp do kapitału – uważa prof. Reuven Brenner.

Read full article (in Polish): Obserwatorfinansowy.pl, July 22, 2013

Published: 25 Jul 2013

Gardez vos liquidités encore quelques mois

Chaque samedi, un financier répond à nos questions. Il donne sa lecture des marchés, offre son point de vue sur la Bourse et lance quelques conseils d'investissement. Cette semaine, Ken Lester, de Gestion d'actifs Lester à Montréal.

Published: 10 Jul 2013

Episode 11 with Reuven Brenner - The Force of Finance

Reuven Brenner holds the REPAP Chair in Economics at McGill University’s Faculty of Management. He has written numerous books, including The Force of Finance: Triumph of the Capital Markets (2002).

Part 11 of a video series produced by the Montreal Economic Institute: www.iedm.org.

Watch full interview: Frontier Centre for Public Policy

Published: 4 Jun 2013

"Pricing Credit Default Swaps with Observable Covariates," Review of Financial Studies

Authors: Doshi, Hitesh; Jacobs, Kris; Ericsson, Jan; Turnbull, Stuart

Publication: Review of Financial Studies, April 2013

Abstract:

Published: 16 May 2013

"Do Implicit Barriers Matter for Globalization?," Review of Financial Studies

Authors: Carrieri, Francesca; Chaieb, Ines; Errunza, Vihang

Publication: Review of Financial Studies, 2013

Abstract:

Published: 26 Apr 2013

Must All Patents Last for 20 Years?

Patent controversies continue to roil the business world. In March, a federal judge slashed by nearly half the $1.05 billion in damages awarded Apple last year in its patent-infringement suit against Samsung. On April 1, India's Supreme Court denied Novartis AG's request, after a seven-year legal battle, to gain patent protection for an updated version of its blockbuster leukemia drug Gleevac. And on April 15, the U.S. Supreme Court heard arguments in Association for Molecular Pathology v. Myriad Genetics, challenging Myriad's claim to patent a naturally occurring gene.

Published: 26 Apr 2013

The Case for a Three Year College Degree

Reducing the time it takes for a student to complete college could add trillions of dollars in wealth to the U.S. economy. Changes in the labor market and educational institutions mean that now is the perfect time to alter the required time to attain a college degree, says Reuven Brenner, the Repap Chair at McGill University's Desautels Faculty of Management.

Read full article: National Center for Policy Analysis, March 28, 2013

Published: 4 Apr 2013

Faster Learning, Route to Wealth

If students could complete their education a year faster, the many benefits would include increased personal wealth, decreased government spending, and more sustainable entitlement programs.

Published: 4 Apr 2013

Bernanke's World War II Monetary Regime

When a government spends beyond its means, the options for paying for the spree are unattractive. It can burden the populace with higher taxes, or it can wipe out a portion of creditors' wealth by inflating the money supply, repaying debts with a debased currency. Or it can do both. The United States is avoiding these choices by borrowing enormous sums, bringing federal debt to almost $17 trillion, at interest rates that the Federal Reserve has managed to keep very low. For now.

-Article by Reuven Brenner and Martin Fridson

Published: 25 Mar 2013

Accelerated learning would add trillions of dollars in wealth

If students could complete their education a year faster, the many benefits would include increased personal wealth, decreased government spending, and more sustainable entitlement programs.

Published: 22 Mar 2013

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