John Vickers examined banking reform initiatives five years on from the crisis, with a focus on Britain and the rest of Europe. How far have we solved the problem of too-big-to-fail?
The Scholes Forum is part of the Initiative on Global Markets (IGM) and is generously sponsored by Myron Scholes. This event is co-sponsored by The Becker Friedman Institute.
The IGM also receives financial support from Kenneth and Anne Griffin.
University of Chicago Booth School of Business
450 N. Cityfront Plaza Drive, Room 621
John Vickers has been Warden of All Souls College, Oxford, since October 2008. He studied at Oxford University, where, after a period working in the oil industry, he taught economics and was Drummond Professor of Political Economy from 1991 to 2008. He was Chief Economist at the Bank of England and a member of the Monetary Policy Committee 1998-2000; Director General/Chairman of the Office of Fair Trading 2000-05; President of the Royal Economic Society 2007-10; and Chairman of the Independent Commission on Banking 2010-11.
Vickers research interests span theory and policy, especially relating to competition and regulation. In particular, he is working with Mark Armstrong on the incentive theory question of how a principal can best give incentives for an agent to choose among competing projects. Vickers' main current policy-related interests arise from his work in 2010-11 as chair of the Independent Commission on Banking, which recommended fundamental reform to improve stability and competition in UK banking.