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Widespread economic recessions and protracted financial crises have been documented as setting back gender equality and other development goals in the past. In the midst of the current global crisisoften referred to as the Great Recessionʺthere is grave concern that progress made in poverty...
Persistent link: https://www.econbiz.de/10003859880
with the involvement of banks in the securities market under the universal banking model. As for the institutional …
Persistent link: https://www.econbiz.de/10008664024
Regulatory forbearance and government financial support for the largest U.S. financial companies during the crisis of 2007–09 highlighted a “too big to fail” problem that has existed for decades. As in the past, effects on competition and moral hazard were seen as outweighed by the threat...
Persistent link: https://www.econbiz.de/10003975091
Senior Scholar James K. Galbraith argues the fundamental illusion of viewing the US economy through the free-market prism of deregulation, privatization, and a benevolent government operating mainly through monetary stabilization - the prevailing view among economists over the past three...
Persistent link: https://www.econbiz.de/10003985698
This paper investigates the United States dollar’s role as the international currency of choice as a key contributing factor in critical global developments that led to the crisis of 2007–09, and considers the future role of the dollar as the global economy emerges from that crisis. It is...
Persistent link: https://www.econbiz.de/10003943131
While most economists agree that the world is facing the worst economic crisis since the Great Depression, there is little agreement as to what caused it. Some have argued that the financial instability we are witnessing is due to irrational exuberance of market participants, fraud, greed, too...
Persistent link: https://www.econbiz.de/10003943150
In this paper, I first quickly recount the causes and consequences of the global financial crisis (GFC). Of course, the triggering event was the unfolding of the subprime crisis; however, I argue that the financial system was already so fragile that just about anything could have caused the...
Persistent link: https://www.econbiz.de/10009269229
system is to promote the "capital development" of the economy. By this he did not simply mean that banks should finance …
Persistent link: https://www.econbiz.de/10008854454
to commercial banks. During the crisis, however, the Federal Reserve created a number of facilities to support brokers … banks to nonbank financial institutions. In a specialized financial system, which the GSA had helped create, the use of the … lender-of-last-resort safety net could be more comfortably limited to commercial banks. However, the elimination of GSA …
Persistent link: https://www.econbiz.de/10011124865
This paper describes the quality of the statistical match between the Current Population Survey (CPS) March 2011 supplement and the Consumer Expenditure Survey (CEX) 2011, which are used for the integrated inequality assessment model for the United States. In the first part of this paper, the...
Persistent link: https://www.econbiz.de/10011141193