We are happy to inform you that Professor Emeritus Robert Z. Aliber, Chicago Booth, will be speaking at the American Academy Lecture in Berlin on 8 December 2014.
Former Federal Reserve Chairman, Alan Greenspan's book The Age of Turbulence, discusses the global economy and its ever faster, ever more unpredictable global flow. Robert Aliber postulates that one feature of this turbulence is a greater variability in the prices of commodities, bonds, stocks, real estate, and currencies than ever before.
In the lecture, Aliber will examine the effect of greater variability on countries that have experienced banking and currency crises as well as sharp declines in employment and economic activity. He will consider whether floating currencies have been necessary because of an abundance of shocks, or whether most of the shocks that led to large changes in the prices of currencies and securities have resulted from changes in the demand for foreign securities.