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Milken Institute July 2015
Just Released: Milken Institute Review
In this issue, Claudia Goldin explains why the gender gap in pay persists in spite of decisive gains in women's skills and experience. Tomas Philipson proposes two new sorts of financial derivatives to manage risk and increase capital for drug development. Frank Rose turns a gimlet eye on the "attention economy"—and, in particular, on how efforts to measure the impact of Internet content are undermining the medium. More »
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Read about 21st Century Cures
U.S. House Votes YES on 21st Century Cures to Improve Odds for Patients
After an extraordinarily inclusive 18-month legislative process, the 21st Century Cures Act overwhelmingly passed in the U.S. House of Representatives. The bill represents the historic coming together of the biomedical research ecosystem and the federal government — across sectors, diseases and political parties — to accelerate the pace of progress for patients.
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Macroprudential Policy:
Silver Bullet or Refighting the Last War?

By Claude Lopez, Donald Markwardt and Keith Savard
In this report, we explore the emerging macroprudential policy discussion and the implications for broader monetary policy.
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Global Opportunity Index:
Attracting Foreign Investment

By Heather Wickramarachi and Keith Savard
The Milken Institute's Global Opportunity Index provides policymakers and investors vital information. How can governments best attract investment, expand economies and accelerate job creation? What do investors need to know before committing resources?
View the full rankings & data site »
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Framing the Issues: De-Risking and Its Consequences for Global Commerce and the Financial System
By Staci Warden
On March 4, 2015, the Milken Institute Center for Financial Markets (CFM) hosted a day-long roundtable with AML/CFT policymakers, regulators, financial institutions, affected parties, and experts. This summary presents a number of ideas and approaches that merit further exploration.
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UPCOMING EVENTS
Asia Summit London Summit
Milken Institute Asia Summit
September 17-18, 2015 — Singapore
Milken Institute London Summit
October 12-13, 2015 — London
BUZZWORTHY VIDEO
Watch the video
Who Gets What — and Why:
The New Economics of Matchmaking and Market Design

Alvin E. Roth, McCaw professor of economics at Stanford University and Nobel laureate
Moderated by Peter Passell, editor of the Milken Institute Review
INSIGHTS FROM INSTITUTE EXPERTS
Rethinking Appraisals in a Modernized Housing Finance System
By Ed DeMarco
Milken Institute Senior Fellow Ed DeMarco considers the recent evolution of the home appraisal industry and its role in a future housing finance system that relies on private capital. He explores the issues facing the industry, including content, standards and regulation. More »
Testimony: Examining the Designation and Regulation of Bank Holding Company SIFIs
By James R. Barth
Read the full testimony »
Testimony: What's in it for the United States? On the Constitutionality and Legitimacy of the FSB (and International Financial Regulation)
By Chris Brummer
Read the full testimony »
Do Relationships With Banks Still Matter?
By Jackson Mueller
Can the close relationship banks have had with small and mid-sized businesses survive the challenges posed by new, nontraditional lenders and heightened regulation? More »
Chinese Equities: What Goes Up Must Come Down
By Keith Savard
Chinese officials are scrambling to prevent a complete meltdown in stocks. In one of their latest actions, securities regulators banned major shareholders, corporate executives and directors from selling stakes in listed companies for six months. More »
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