The report provides an analysis of the financial crisis of 2007/2008 and draws some conclusions about the need for regulatory reform. The analysis ascribes the crisis not only to problems in subprime mortgage lending and securitization, but also to excessive maturity transformation and...

This study focuses on the financialization of the U.S. household sector, featuring enhanced access to credit and ease of consumer spending as essential aspects. Growth in U.S. private consumption has been remarkably strong since the 1980s considering trends in income growth and income and wealth...