The current economic crisis offers an historic opportunity for change. The depth of the crisis means there will likely … intellectual change is attitudes toward financial regulation. These obstacles will mute the policy response to the crisis, and if a … deep crisis is averted will tend to encourage a return of the existing policies that have failed so disastrously. …

output changes at an early stage. We illustrate the method with an evaluation of the impact of the 2008-2009 crisis in …