Found 443 article(s) in category 'Q3: Financial Crisis?'

HOW DO WE PREVENT THE NEXT FINANCIAL CRISIS?

The posts collected here explore the causes of the global financial crisis and its short- and long-term consequences. They include a multitude of proposals for preventing and mitigating financial crises in the future.

Venezuela Has a Refugee Crisis Of Syrian Magnitudes

Venezuela Has a Refugee Crisis Of Syrian Magnitudes. Ricardo Hausmann, May 21, 2018, Audio, “Ricardo Hausmann, Harvard economist and Former Minister of Planning for Venezuela, discusses Venezuela’s elections and economic outlook.Alan Bjerga, agriculture reporter for Bloomberg, on how the agriculture sector is hurting from GOP policies on trade, NAFTA, and the rejection of farm legislation in the House.Travis Briggs, CEO of ROBO Global, on investing in robotics, automation and AI. Brooke Sutherland, Industrials and Deals columnist for Bloomberg Opinion, on GE merging its century-old locomotive business with Wabtec Corp. in a deal valued at $11.1 billion.Link

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Climbing out of Debt

Climbing out of Debt. Alberto Alesina, March 2018, Paper, “Almost a decade after the onset of the global financial crisis, national debt in advanced economies remains near its highest level since World War II, averaging 104 percent of GDP. In Japan, the ratio is 240 percent and in Greece almost 185 percent. In Italy and Portugal, debt exceeds 120 percent of GDP.” Link

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On the Direct and Indirect Real Effects of Credit Supply Shocks

On the Direct and Indirect Real Effects of Credit Supply Shocks. Laura Alfaro, March 5, 2018, Paper, “We consider the real effects of bank lending shocks and how they permeate the economy through buyer-supplier linkages. We combine administrative data on all firms in Spain with a matched bank-firm-loan dataset incorporating information on the universe of corporate loans for 2003-2013. Using methods from the matched employer-employee literature for handling large data sets, we identify bank-specific shocks for each year in our sample. Combining the Spanish Input-Output structure and firm-specific measures of upstream and downstream exposure, we construct firm-specific exogenous credit supply shocks and estimate their direct and indirect effects on real activity.Link

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Summers Warns Next U.S. Recession Could Outlast Previous One

Summers Warns Next U.S. Recession Could Outlast Previous One. Lawrence Summers, February 28, 2018, Video, “The next U.S. recession could drag on longer than the last one that stretched 18 months. That’s the assessment of former Treasury Secretary Larry Summers. With the economy in its ninth year of expansion, even if one were to take a hawkish view of upcoming Federal Reserve tightening, it would be some time before the level of interest rates rates gets high enough to allow them to again be reduced by the 500 basis points typical for a U.S. recession, Summers said at a conference in Abu Dhabi.” Link

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James Engell on the future of employment, prescriptions for economic inequality, and preventing the next financial crisis

James Engell on the future of employment, prescriptions for economic inequality, and preventing the next financial crisis February 2018. GrowthPolicy’s Devjani Roy interviewed James Engell, Gurney Professor of English Literature and Professor of Comparative Literature at Harvard University, on the future of employment, prescriptions for economic inequality, and preventing the next financial crisis. | Click […]

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Max Bazerman on preventing the next financial crisis, behavioral ethics, and becoming good decision makers

Max Bazerman on preventing the next financial crisis, behavioral ethics, and becoming good decision makers February 2018. GrowthPolicy’s Devjani Roy interviewed Max Bazerman, Jesse Isidor Straus Professor of Business Administration at Harvard Business School, Co-Director of the Center for Public Leadership at Harvard Kennedy School, and Faculty Co-Chair of the Behavioral Insights Group at the […]

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Wells Fargo’s board members are getting off too easy

Wells Fargo’s board members are getting off too easy. Lawrence Summers, February 6, 2018, Opinion, “A question I am asked as frequently as any other is: “Why didn’t anyone go to jail for the financial crisis?” There was huge suffering, sufficient misbehavior that the largest banks had to pay well over $100 billion in fines, and in the past, people had gone to jail for financial shenanigans during the Depression and the S&L crisis. People are usually indignant as they ask the question.Link

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