The financial crisis: toward an explanation and policy response. 2008 annual report of the Federal Reserve Bank of Richmond

Aaron Steelman and John Weinberg

Annual Report, 2008, 4-19

Abstract: This year's article was co-authored by Aaron Steelman, director of publications, and John A. Weinberg, senior vice president and director of research. The authors discuss the key events of the financial crisis, examine which factors contributed to it, and consider how policymakers might most effectively respond. At the core of their discussion is the role that explicit and implicit government guarantees played in encouraging unwise risk-taking by financial institutions.

Keywords: Risk; Financial crises (search for similar items in EconPapers)
Date: 2008
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