The Great Leveraging

What can history can tell us about the relationship between the banking system, financial crises, the global economy, and economic performance? Evidence shows that in the advanced economies we live in a world that is more financialized than ever before as measured by importance of credit in the economy. I term this long-run evolution “The Great Leveraging” and present a ten--point examination of its main contours and implications.

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Year of publication:	2012-08
Authors:	Taylor, Alan M.
Institutions:	C.E.P.R. Discussion Papers
Subject:	banking \| booms \| credit \| crises \| financial development \| fiscal policy \| global imbalances \| Great Recession \| recessions

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Extent:	application/pdf
Series:	CEPR Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	Number 9082
Classification:	E3 - Prices, Business Fluctuations, and Cycles ; E5 - Monetary Policy, Central Banking and the Supply of Money and Credit ; E6 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook ; N1 - Macroeconomics and Monetary Economics; Growth and Fluctuations ; N2 - Financial Markets and Institutions
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011084609