Reconsidering the Role of Ideas in Times of Crisis

Erik Jones

Chapter 3 in The Global Crash, 2010, pp 52-72 from Palgrave Macmillan

Abstract: Abstract The cluster of economic problems that emerged from and surrounded the growing defaults in United States sub-prime and Alt-A mortgage lending markets is widely regarded as a ‘crisis’. Some have even gone so far as to say that this is the worst economic crisis since the 1930s. But is it a crisis because in some real-world sense it threatens to take down the global financial system, or is it a crisis because policymakers in the US and elsewhere finally decided it is time to make a ‘decisive intervention’ in the markets?

Keywords: House Price; Credit Default Swap; Exchange Rate Volatility; Interbank Market; Stock Market Performance (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28153-0_4

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DOI: 10.1057/9780230281530_4

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