I discuss briefly the crisis itself and then give some criteria that should be used in evaluating any policy proposed o …

During the last financial crisis the Federal Reserve launched several extraordinary actions, including the creation of … a number of new facilities for auctioning short-term credit, with the general aim of sustaining the financial sector and … Facility (TAF). The goal of this paper is twofold. First, we want to study banks' liquidity and liability features depending on …

characterised by a serious weakening in the bargaining position of waged workers and a major expansion of the financial sector. Most … of the economic gains accrued to top earners and economic growth became increasingly dependent on the expansion of credit …. This precarious constellation led to short recessions in 1990 and again in 2001, but then in 2007 and 2008 the failure of …

Crisis. They tell a story of what went wrong and why. For instance, had mortgage contracts not been ill-designed in the sense …The thesis studies three pivotal episodes in the evolution of what became the Global Financial Crisis of 2008-09. These … three events - the collapse of the US housing market, the breakdown of the repo money market, and the banking crash - are …