The Financial Crisis in 2007 and 2008 Viewed from the Perspective of Economic Research
AbstractMany economists monitored the developments that led to the financial crisis in 2007 and 2008 with concern. The course and depth of the crisis, however, came as a surprise to many. This paper discusses whether there are structural deficits in economic research which prevent a deeper analytical understanding of the current crisis. While research on specific aspects of the current crisis mechanisms and their structural causes has been pursued very actively in recent years, this research has not yet been incorporated into the mainstream of macroeconomics and finance – a fact that hinders analytical understanding of the crisis. JEL classification: E51, G1, G21, G28
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Bibliographic InfoArticle provided by Oesterreichische Nationalbank (Austrian Central Bank) in its journal Monetary Policy and the Economy.
Volume (Year): (2008)
Issue (Month): 4 (January 2009)
Postal: Oesterreichische Nationalbank, Documentation Management and Communications Services, Otto-Wagner Platz 3, A-1090 Vienna, Austria
Find related papers by JEL classification:
- E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
- G1 - Financial Economics - - General Financial Markets
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
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