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Overcoming the Financial Crisis in the United States

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Author Info
Andrea de Michelis

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Abstract

The 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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File URL: http://dx.doi.org/10.1787/226765644531
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Publisher Info
Paper provided by OECD, Economics Department in its series OECD Economics Department Working Papers with number 669.

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Date of creation: 24 Feb 2009
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Handle: RePEc:oec:ecoaaa:669-en

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Related research
Keywords: deleveraging; financial crisis; financial regulation; financial supervision; housing finance; market stability regulator; securitisation; subprime mortgage; United States; autorité de contrôle pour la stabilité des marchés financiers; crédit hypothécaire à risques; crise financière; États-Unis; financement du logement; réduction de l’effet de levier; réglementation des marchés financiers; surveillance prudentielle; titrisation;

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; Mortgages
G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
R21 - Urban, Rural, and Regional Economics - - Household Analysis - - - Housing Demand

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  1. 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. [Downloadable!]
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This page was last updated on 2009-11-23.


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