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Second Annual Meeting of the Global Society of Fellows When Public Investment is No Longer an Oxymoron: Fiscal Policy in Liquidity Trap Conditions

Date: Tuesday, April 9, 2013
Alice Haynes Room in the Tyler Haynes Commons at the University of Richmond, 28 Westhampton Way University of Richmond, VA 23173

Event Detail

When Public Investment is No Longer an Oxymoron: Fiscal Policy in Liquidity Trap Conditions

Agenda

8:30 a.m.                               Registration & Coffee

9 a.m.                                     Welcoming Remarks

  • Paul McCulley, Chair of the Global Society of Fellows

9:15 a.m.                               Induction Ceremony: Global Society of Fellows

  • Ellen Hughes-Cromwick, Chief Economist at Ford Motor Co.
  • Richard Vague, Managing Partner of Gabriel Investments

9:30 – 10:15 a.m.                 Session I – Ending Too Big to Fail is Going to be Hard Work

  • Jeffrey Lacker, President of the Federal Reserve Bank of Richmond

10:15 – 10:30 a.m.              Coffee Break

10:30 – 11:30 a.m.              Session II – Financing the Infrastructure to Support Alternative Fuel Vehicles: How Much Investment is Needed and How Will It Be Funded?

  • Fellow: Ellen Hughes-Cromwick, Chief Economist at Ford Motor Co.
  • Visiting Scholar: Joshua Cregger, Industry Analyst at the Center for Automotive Research
  • Discussant: Santiago Pinto, Economist in the Regional Economist Group of the Research Department of the Federal Reserve Bank of Richmond

11:30 a.m. – 12:30 p.m.     Session III – Debt, Deflation, and Debacle: Of Private Debt Write-Down and Public Recovery

  • Fellow: Richard Vague, Managing Partner of Gabriel Investments
  • Visiting Scholar: Robert C. Hockett, Professor of Law at Cornell University Law School
  • Discussant: Steve Clemons, Washington Editor-At-Large for The Atlantic

12:30 – 1:30 p.m.                 Lunch

1:30 – 2:30 p.m.                   Session IV – Helicopter Money: Or How I Stopped Worrying and Love Fiscal-

Monetary Cooperation

  • Paul McCulley, Chair of the Global Society of Fellows
  • Zoltan Poszar, Visiting Scholar, International Monetary Fund

2:30 – 3:30 p.m.                   Session V – Public Investment: Facts and Fantasies

  • Dean Croushore, Professor of Economics and Rigsby Fellow in Economics at the University of Richmond
  • Robert Dolan, Professor of Economics at the University of Richmond

3:30 p.m.                               Conclusion

  • Paul McCulley, Chair of the Global Society of Fellows

Hotel Accommodations

GIC has a block of rooms on hold at:

THE WESTIN RICHMOND
6631 West Broad Street
Richmond, Virginia 23230
(about a ten minute cab ride to the venue)

Please call the central reservations number at 1-888-627-7786 and reference GLOBAL INTERDEPENDENCE CENTER block.

These rates will expire on March 25, 2013

GIC Guest room rates:
Standard King       $139.00
Standard Double  $149.00

Information regarding other suggested hotels are available at www.richmond.edu/visit/accommodations.html.

Event Location

Date: Tuesday, April 9, 2013 Time: 8:30 AM - 3:30 PM City: Richmond Alice Haynes Room in the Tyler Haynes Commons at the University of Richmond Download iCal

Speakers

Ellen Hughes-Cromwick, Ph.D.

Ellen Hughes-Cromwick, Ph.D.

Chief Economist, Ford Motor Company

Ellen Hughes-Cromwick is the chief economist for Ford Motor Company. Her role is to oversee the corporate economics and strategic issues group at Ford Motor Company with responsibility for the company's global automotive industry analysis and forecasts used to support planning.

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Richard W. Vague

Richard W. Vague

Richard Vague is a managing partner of Gabriel Investments, an early stage investment fund. He is also Chairman of The Governor’s Woods Foundation, a non-profit philanthropic organization, and managing director of The Miletos Group. Previously, he was co-founder, Chairman and CEO of Energy Plus, an electricity and natural gas supply company operating in states throughout the U.S. that was sold to NRG Energy in 2011. Vague was also co-founder and CEO of two credit card companies - First USA, which grew to be the largest Visa issuer in the industry and was sold to Bank One in 1997, and Juniper Financial, the fastest growing credit card issuer of the past decade, which was sold to Barclays PLC in 2004.

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Jeffrey Lacker, Ph.D.

Jeffrey Lacker, Ph.D.

Former Distinguished Professor of Economics, VCU School of Business

Dr. Lacker joined the faculty of the VCU School of Business this year after serving over 12 years as President and CEO of the Federal Reserve Bank of Richmond, from August 2004 to April 2017.

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Paul McCulley

Paul McCulley

Senior Fellow, Financial Macroeconomics, Cornell Law School's Jack G. Clarke Program on the Law and Regulation of Financial Institutions and Markets

Paul McCulley is Senior Fellow in Financial Macroeconomics for Cornell Law School’s Jack G. Clarke Program on the Law and Regulation of Financial Institutions and Markets. Prior, he was the Chief Economist and Managing Director at PIMCO where he served as a member of the Investment Committee in Newport Beach, and authoring the publication, Macro Perspectives.

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Dean Croushore

Dean Croushore

Dr. Dean Croushore is professor of economics and Rigsby fellow at the University of Richmond. Dr. Croushore came to the University of Richmond in 2003 after 14 years at the Federal Reserve Bank of Philadelphia, where he was vice president and economist. The focus of his research in recent years has been on forecasting and […]

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Robert Dolan, Ph.D.

Robert Dolan, Ph.D.

Robert Dolan is a professor of economics at the Robins School of Business at the University of Richmond. During his tenure at the University of Richmond, he has been named the David Meade White Distinguished Teach Fellow and Faculty Member of the Year by the Richmond College Student Government Association. He is the co-author of […]

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Joshua Cregger

Joshua Cregger

Industry Analyst at CAR

Joshua Cregger is currently an industry analyst at the Center for Automotive Research (CAR).

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Robert Hockett

Robert Hockett

Professor of Law at the Cornell University Law School

Robert Hockett joined the Cornell Law Faculty in 2004.

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Santiago Pinto

Santiago Pinto

Economist in the Regional Economics Group of the Research Department of the Federal Reserve Bank of Richmond

Santiago Pinto is an economist in the regional economics group of the research department. He joined the Richmond Fed in 2012 after serving as an associate professor of economics at West Virginia University, where he had worked since 2002. He previously taught at Syracuse University and several institutions in Argentina. His research interests are in […]

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Zoltan Pozsar

Zoltan Pozsar

Senior Adviser, U.S. Department of the Treasury

Zoltan Pozsar, a senior adviser at the U.S. Department of the Treasury, is an expert on global macroeconomic affairs, central banking and finance. At Treasury, Mr. Pozsar is responsible for developing the framework to monitor risk and collateral intermediation activities in the financial eco-system and evaluate their impact on macro-financial conditions. He also serves as Treasury's liaison to the Financial Stability Board (FSB) on matters of financial innovation.

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