This paper provides a brief analysis of three major questions raised in the context of the recent global financial crisis. First, how similar is the crisis to previous episodes? We argue that the crisis featured some close similarities to earlier ones, including the presence of credit and asset...

Tens of millions of people lost their jobs, homes and bank savings and are still losing their jobs, saving and homes because of this crisis. Iceland government tried to ensure that, the Icelandic state would not actually face bankruptcy. But at the end of the second quarter 2008, Iceland's...

This paper provides a brief analysis of three major questions raised in the context of the recent global financial crisis. First, how similar is the crisis to previous episodes? We argue that the crisis featured some close similarities to earlier ones, including the presence of credit and asset...