Overcoming the Financial Crisis in the United States
AbstractThe global financial crisis that emerged in mid 2007 has caused considerable economic disruptions in the United States and elsewhere, and exposed major flaws in the global financial system. After examining the origins of the crisis, this paper recommends specific policy responses to resolve the immediate problems and discusses how to make the US financial system more resilient and stable in the future. Surmonter la crise financière aux Etats-Unis La crise financière qui a éclaté à la mi-2007 a provoqué des perturbations économiques considérables aux États-Unis et ailleurs, et révélé des failles majeures dans le système financier mondial. Après une analyse des origines de la crise, ce chapitre préconise des réponses spécifiques pour résoudre les problèmes immédiats et étudie les moyens de rendre le système financier des États-Unis plus résilient et plus stable dans l’avenir.
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Bibliographic InfoPaper provided by OECD Publishing in its series OECD Economics Department Working Papers with number 669.
Date of creation: 24 Feb 2009
Date of revision:
United States; financial regulation; securitisation; subprime mortgage; financial crisis; financial supervision; market stability regulator; deleveraging; housing finance; autorité de contrôle pour la stabilité des marchés financiers; crédit hypothécaire à risques; réduction de l’effet de levier; titrisation; réglementation des marchés financiers; crise financière; États-Unis; financement du logement; surveillance prudentielle;
Find related papers by JEL classification:
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
- G20 - Financial Economics - - Financial Institutions and Services - - - General
- 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
- R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-02-28 (All new papers)
- NEP-CBA-2009-02-28 (Central Banking)
- NEP-CFN-2009-02-28 (Corporate Finance)
- NEP-FMK-2009-02-28 (Financial Markets)
- NEP-MAC-2009-02-28 (Macroeconomics)
- NEP-REG-2009-02-28 (Regulation)
- NEP-URE-2009-02-28 (Urban & Real Estate Economics)
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- Andrew K. Rose & Mark M. Spiegel, 2009. "Cross-country causes and consequences of the 2008 crisis: early warning," Working Paper Series 2009-17, Federal Reserve Bank of San Francisco.
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