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The 17th Yan Fu Memorial Lecture: The Poverty of Monetarism


The Poverty of Monetarism

Speaker:  Prof. Patrick Bolton

Barbara and David Zalaznick Professor of Business at Columbia University
and Visiting Professor at Imperial College London

Time: 15:30-17:40 pm, Dec. 12, 2019

Venue: 2nd floor, Wanzhong building, Langrun Garden, National School of Development, Peking University

Click here to register for the event

Chair: Prof. YAO Yang, Dean of National School of Development
15:30-16:00   Registration
16:00-16:10   Opening Remarks by Prof. YAO Yang
16:10-17:10   Keynote Speech by Prof. Patrick Bolton
17:10-17:40   Q&A


Introduction of the speaker:
Patrick Bolton is the Barbara and David Zalaznick Professor of Business at Columbia University and visiting Professor at Imperial College London. He is a Co-Director of the Center for Contracts and Economic Organization at the Columbia Law School, a past President of the American Finance Association, a Fellow of the Econometric Society (elected 1993), the American Academy of Arts and Sciences (elected 2009), and a Corresponding Fellow of the British Academy (elected 2013).

His research and areas of interest are in contract theory and contracting issues in corporate finance and industrial organization. A central focus of his work is on the allocation of control and decision rights to contracting parties when long-term contracts are incomplete.


This lecture will provide a critical discussion of monetarism and the difficulties of understanding macroeconomic developments post financial crisis through a monetarist lens. By discussing three avenues for broadening the classical monetarist framework, this talk will shed light on post crisis economic policy challenges.


About Yan Fu Memorial Lecture in Economics:
The Yan Fu Memorial Lecture in Economics commenced in 2001, aiming to commemorate Mr. Yan Fu who was a renowned thinker, educationist and translator in modern China, and to continue his wish to promote China’s development in modern Economics. Each year, the National School of Development invites a globally recognized economist to speak at the event.