The Crisis: Basic Mechanisms and Appropriate Policies

Olivier Blanchard

No 2009/080, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; asset; investor; bank; price; value; Financial Crisis; Credit; Liquidity; Spending; Leverage; asset price booms; subprime loan; a number of asset class; off-balance sheet assets; value of the assets; credit rationing; asset purchase; issued assets; Mortgages; Financial statements; Housing prices; Emerging and frontier financial markets; Global (search for similar items in EconPapers)
Pages: 22
Date: 2009-04-01
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Citations: View citations in EconPapers (90)

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Journal Article: The Crisis: Basic Mechanisms and Appropriate Policies (2009)
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