Greta Krippner submitted Capitalizing on Crisis to Harvard University Press at the end of the summer of 2008, before the Great Recession began. I read it as a member of the press board, and we all thought Krippner had a career ahead as a psychic

Conviction narrative theory (CNT), a social psychological approach to the way economic agents take deisions under Knightian uncertainty, together with the new methodology of directed algorithmic text analysis (DATA), provide the opportunity for a theory of economic sentiment or animal sprits...

Stock market volatility was extremely high during the Great Depression relative to any other period in American history. At the same time, large negative and positive discontinuous jumps in stock returns can be detected using the Barndorff-Nielsen and Shephard (2004) test for jumps in financial...

Industrial performance in Belarus remained strong in 2005-08. Industrial productivity growth was broad based, driven by within-firm-improvements of the existing industrial enterprises rather than by new entry.However, below the surface, there are a number of warning signs regarding the quality...

What can we learn from the fact that, in the end, Wall Street paid back all of its bailout money, with interest? We now can see that the crisis of 2008 was a rolling loss of investor confidence in financial firms whose solvency was threatened by an ongoing decline in house prices. When investors...