NYU Stern

About the Financial Policy Platform

The faculty members affiliated with the Financial Policy Platform are applying their knowledge and expertise and directing their scholarly research to address a broad range of important public policy questions with respect to financial markets and institutions. Please browse through and use this website to learn about them and their work and about how their output can be useful to you as a policy maker or regulator, a business leader, a member of the press, a fellow academic, or—last but not least—a concerned citizen.

– What's New

Professor Viral Acharya on "Breaking the Bank-Sovereign Nexus"

Professor Viral Acharya writes that recent financial crises "indicate the existence of a strong two-way relationship between banking crises and sovereign debt crises." While an obvious solution is "a prudent, substantially counter-cyclical, fiscal policy," this may not be politically possible. "A second-best alternative," he argues, "is to diversify the ownership of government debt" beyond the banking system. Read the full piece here.

Fixing LIBOR

Professor Marti Subrahmanyam and his coauthors argue in a recent paper that alternative rate fixings, particularly those that eliminate outliers based on time series information, could significantly reduce the effects of manipulation.

Professor Lawrence White Testifies on FNMA and FHLMC

Professor Lawrence White testified at a hearing of the U.S. House of Representatives Subcommittee on Capital Markets and Government Sponsored Enterprises on "Fannie Mae and Freddie Mac: How Government Housing Policy Failed Homeowners and Taxpayers and Led to the Financial Crisis," March 6, 2013.