The Crisis: Basic Mechanisms and Appropriate Policies

By Olivier J. Blanchard. Social Science Research Network, 2008

267 citations recorded by the source corpus.

The purpose of this lecture is to look beyond the complex events that characterize the global financial and economic crisis, identify the basic mechanisms, and infer the policies needed to resolve the current crisis, as well as the policies needed to reduce the probability of similar events in the future.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/e17cf2c2a3845e389e69c1d9fc0ce8fb3cedf85e

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Citations in the corpus

Bank Risk-Taking, Securitization, Supervision and Low Interest Rates: Evidence from the Euro Area and the U.S. Lending Standards (2010, unknown): “1 See also Besley and Hennessy (2009), Blanchard (2008, 2009), Brunnemeier (2009), Calomiris (2008), Diamond and Rajan (2009b), Reinhardt and Rogoff (2009), and numerous editorial and op-ed articles since summer 2007 in The Financial Times, The Wall Street Journal, and The Economist.”
On the Real Effects of Bank Bailouts: Micro-Evidence from Japan (2009, background): “Not 1 Bebchuck (2008), Blanchard (2008), and Diamond and Rajan (2009) illustrate vividly the debate surrounding the implementation of plans for addressing the credit crisis in the U.S. 2 only both crises originated from the burst of a real estate bubble, but also, in the response to the banking…”
Economic crisis in Europe : causes, consequences and responses (2011, background): “((3)) See for instance Blanchard (2009), Bosworth and Flaaen (2009), Furceri and Mourougane (2009), Gaspar and Schinasi (2009) and Haugh et al.”
Rising inequality as a cause of the present crisis (2015, background): “Mainstream economics regards the crisis foremost as issue of the financial sector (e.g., Blanchard, 2009; Brunnermeier, 2009; Roubini and Mihm, 2010); distributional considerations overwhelmingly do not enter the stage.”
Macroeconomic impact of stranded fossil fuel assets (2018, background): “Faced with SFFA of potentially massive proportions, the financial sector’s response to the low-carbon transition will largely determine whether the carbon bubble burst will prompt a 2008-like crisis 11,12,14,18 .”