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The Credit Crisis: Conjectures about Causes and Remedies

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  • Douglas W. Diamond
  • Raghuram G. Rajan

Abstract

What caused the financial crisis that is sweeping across the world? What keeps asset prices and lending depressed? What can be done to remedy matters? While it is too early to arrive at definite answers to these questions, it is certainly time to offer informed conjectures, and these are the focus of this paper.

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File URL: http://www.aeaweb.org/articles.php?doi=10.1257/aer.99.2.606
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Bibliographic Info

Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 99 (2009)
Issue (Month): 2 (May)
Pages: 606-10

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Handle: RePEc:aea:aecrev:v:99:y:2009:i:2:p:606-10

Note: DOI: 10.1257/aer.99.2.606
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  1. Douglas W. Diamond & Raghuram G. Rajan, 1999. "Liquidity Risk, Liquidity Creation and Financial Fragility: A Theory of Banking," NBER Working Papers 7430, National Bureau of Economic Research, Inc.
  2. Benmelech, Efraim & Dlugosz, Jennifer, 2009. "The alchemy of CDO credit ratings," Journal of Monetary Economics, Elsevier, vol. 56(5), pages 617-634, July.
  3. Raghuram G. Rajan, 2005. "Has financial development made the world riskier?," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, issue Aug, pages 313-369.
  4. Douglas W. Diamond & Raghuram G. Rajan, 2005. "Liquidity Shortages and Banking Crises," Journal of Finance, American Finance Association, vol. 60(2), pages 615-647, 04.
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  1. The ABCT making its presence in the maintream literature
    by Nicolas Cachanosky in Punto de Vista Economico on 2013-09-02 03:10:35
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