The global economy has been in an interesting position the last year. Many economies of all types, sizes and origins are in fear of, or actually in, recession. The terms ‘credit-crunch' and ‘sub-prime' are common parlance referred to on a daily basis by newspapers and common laity. This is a...

All economists should be conversant with “what happened?” during the financial crisis of 2007-2009. We select and summarize 16 documents, including academic papers and reports from regulatory and international agencies. This reading list covers the key facts and mechanisms in the build-up of...

As financial markets recover after their crisis, the academic field as well as politics have refocused on drawing the lessons from the crisis and are doing so mainly with regards to a reform in financial regulation and market transparency. In taking this approach, however, one important aspect...