A Crash Course on the Euro Crisis

Markus Brunnermeier and Ricardo Reis

No 26229, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: The financial crises of the last twenty years brought new economic concepts into classrooms discussions. This article introduces undergraduate students and teachers to seven of these models: (i) misallocation of capital inflows, (ii) modern and shadow banks, (iii) strategic complementarities and amplification, (iv) debt contracts and the distinction between solvency and liquidity, (v) the diabolic loop, (vi) regional flights to safety, and (vii) unconventional monetary policy. We apply each of them to provide a full account of the euro crisis of 2010-12.

JEL-codes: A22 E44 E5 F3 G01 (search for similar items in EconPapers)
Date: 2019-09
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Citations: View citations in EconPapers (17)

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Related works:
Working Paper: A Crash Course on the Euro Crisis (2019)
Working Paper: A Crash Course on the Euro Crisis (2019)
Working Paper: Crash Course on the Euro Crisis (2019)
Working Paper: A Crash Course on the Euro Crisis (2019)
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