As parents, we want schools to teach values as well as academic subjects. We want them to impart to our kids qualities like patience and grit -- traits that experts in education have long understood to be as important to academic and professional achievement as the ability to do math and use language. Yet, despite parents' wishes, too little thought has been given as to how … [Read more...] about Persevere and Triumph: Teaching Grit and Patience for School Success
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Reducing Volatility from Cross-Border Banking Flows
How can emerging markets protect themselves from abrupt shifts in cross-border banking flows? That has been a fundamental question for economic policymakers in recent years, including those entrusted with banking supervision in regions like Latin America and the Caribbean. In a study made available online in May, Gabriel Cuadra and I examine the issue, focusing on how … [Read more...] about Reducing Volatility from Cross-Border Banking Flows
Searching for a New Macroprudential Framework
The policy of quantitative easing led by advanced economies and the subsequent surge of capital flows to emerging economies (EMEs) after the global financial crisis together with their recent reversal have highlighted the need to tailor a macro approach for EMEs that incorporates financial stability as an explicit policy target. But what should the approach be? Should it take … [Read more...] about Searching for a New Macroprudential Framework