Dr Thomas Lubik is senior economist in the Research Department at the Federal Reserve Bank of Richmond.  Dr Lubik is also the inaugural Geoff Harcourt Visiting Professor of Economics at the School of Economics in the University of Adelaide.  He has published his work in numerous academic journals, including the American Economic Review and the Journal of Monetary Economics.  Dr Lubik is an associate editor of the Journal of Economic Dynamics and Control and a frequent visitor to international central banks, most recently the Deutsche Bundesbank and the Reserve Bank of New Zealand.


headshot of Thomas A. Lubik

TOPIC:  The Great Recession and the Future of Central Banking

DATE:    Tuesday 15 December, 2009

TIME:    4.00-5.30pm followed by drinks to 6.30pm

VENUE:  126 SANTOS Lecture Theatre, Marjoribanks Building, The Professions Hub, Cnr Pulteney Street and North Terrace, The University of Adelaide.  RSVP’s  no later than Wednesday 9 December 2009, please contact Ms Litsa Morris litsa.morris@adelaide.edu.au or phone 8303 4768.  BOOKINGS ARE ESSENTIAL.

The Great Recession and the Future of Central Banking

Dr Lubik will speak first on the “Great Recession”.  He will lay out and discuss factors such as (i) financial innovation (ii) global imbalances (iii) (monetary) policy failure.  He will then discuss the future of central banking.  This will cover the issue of whether the “too big to fail” genie is out of the bottle, that is, can central; banks ever commit again?  He will comment on the role of a systemic risk regulator, whether this is actually a useful concept at all, and how one would implement this.  What will follow is a discussion of new capital adequacy standards and increased financial regulation but also a review of regulatory capture and how this contributed to the crisis.  The presentation will conclude with comments on central bank independence.  The talk will be illustrated by the experiences in the United States.