September 25, 2008
 

More Articles on the Bailout

The Economists' Voice

 

http://www.bepress.com/ev

 

Congress meets on Friday September 26th to evaluate the Treasury's proposed bailout plan. More expert economists weigh in, at the 11th hour, with incisive critiques and proposals.

Auction Design Critical for Rescue Plan

Lawrence M. Ausubel and Peter Cramton

The details of the auction design could make or break the Treasury's plan to invest $700 billion in mortgage-related securities to resolve the financial crisis, using market mechanisms such as reverse auctions to determine prices, according to Lawrence M. Ausubel and Peter Cramton.

A Plan for Addressing the Financial Crisis

Lucian A. Bebchuk

This paper puts forward a proposal for redesigning the Treasury's plan for addressing the financial crisis. The redesigned plan, argues Lucian A. Bebchuk, would do a far better job of protecting taxpayer interests and restoring financial stability.

Please Think This Over

Edward E. Leamer

Edward Leamer has questions about the Treasury's bailout plan, but the question is: does Secretary Paulson have answers? If not, then Leamer proposes a more direct way to spend $700 billion dollars that attacks the root of the problem--housing price declines: call it "trickle up" economics.

Good Bailouts and Bad

David O. Beim

David Beim asks whether the Treasury Plan is a good or bad bailout in historic terms and suggests that the difference is price and whether the problem addressed is solvency or liquidity.


Letters

Letter: Another Take on "Why Paulson is Wrong"

Allen H. Barton

Paulson proposes a top-down solution to the financial crisis by government purchase of bad loans from the lenders to "clean" their balance sheets. But, Barton suggests, a bottom-up solution would be a subsidy to borrowers to ensure full payments, restoring the value of the "toxic assets," thereby cleaning up.



About this journal

The Economists' Voice (EV), edited by Aaron Edlin and Joseph Stiglitz, recipient of the 2001 Nobel Prize for Economics, together with J. Bradford DeLong, William Gale, James Hines and Jeffrey Zwiebel, is the decade's most successful publishing innovation for professional economists. It was shortlisted for Best New Journal in the 2007 ALPSP/Charlesworth Awards. Its short, focused policy articles fill a gap between the op-ed pages of the newspaper and full-length journal articles. Contributors include seven Nobel Prize winners, five past chairs of the President's Council of Economic Advisors, public intellectuals like Paul Krugman and Richard Posner, and a veritable "Who's Who" of modern economic theory and policy. The Economists' Voice is a source of expertise directed at once at the professional economist, policymakers, students, and anyone curious about the economy today. Articles from The Economists' Voice have been prominently featured on the Op-Ed pages of The New York Times, The Washington Post, Salon.com, The Wall Street Journal's MarketWatch.com, and distributed by Project Syndicate to newspapers around the world. The Economists' Voice creates a non-partisan forum for readable ideas and analysis by leading economists on vital issues of our day.

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Edited by

Aaron Edlin
UC Berkeley

Joseph Stiglitz
Columbia

Co-Editors:

Dwight Jaffee
UC Berkeley

Jeffrey Zwiebel
Stanford University

Advisory Board:

Bradford DeLong
UC Berkeley

William Gale
Brookings Institution

James Hines
University of Michigan
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