This course explores whether central banks have created asset bubbles in the capital markets through their monetary policies. The learning outcomes include understanding the impact of central bank interventions on economic growth, assessing the risks and rewards generated by these policies, and analyzing the effectiveness of new lending programs. The course covers topics such as credit bubbles, monetary policy efficiency, debt levels, risk incentives, signs of market froth, and the role of fiscal policy. The teaching method involves a panel discussion with experts from the financial industry, including economists, investment managers, and market strategists. The course is intended for individuals interested in financial markets, monetary policy, and the global economy.
Overview
Syllabus
Introduction
Has Central Banks Created an Asset Bubble
Credit Bubble
Monetary Policy
Policy Efficiency
Bretton Woods
Debt to Income
Risk Incentives
Signs of froth
Central banks only change incentives
Fiscal policy paralysis
Low inflation
Macroprudential
Tech Bubble
Low Rates
Europe
ECB
How do you get this right
Orchestra analogy
Europe is a train wreck
How to take the Euro down to parody
The real exchange rate
Leverage in private equity
Deal sizes are smaller
The disconnect between private equity and the market
Taught by
Milken Institute
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Reviews
5.0 rating, based on 1 Class Central review
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really technical, I wish that I knew about some of the most technical concepts they talked about. Central bank balance sheet shrinkage, warranted real risk free rates, inflation rates, real interest rates, interest rate spreads, sovereign credit risk, US corporate credit risk, equilibriums and etc. but, however, it was fun to watch. the billion dollar deals and in the money leveraged deals did make some sense though.
