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The Credit Crisis: Conjectures about Causes and Remedies

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Listed author(s):
  • Douglas W. Diamond
  • Raghuram 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.nber.org/papers/w14739.pdf
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 14739.

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Date of creation: Feb 2009
Publication status: published as Douglas W. Diamond & Raghuram G. Rajan, 2009. "The Credit Crisis: Conjectures about Causes and Remedies," American Economic Review, American Economic Association, vol. 99(2), pages 606-10, May.
Handle: RePEc:nbr:nberwo:14739
Note: AP CF IFM ME
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Find related papers by JEL classification:
  • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
  • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
  • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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  1. 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.
  2. Douglas W. Diamond & Raghuram G. Rajan, 2001. "Liquidity Risk, Liquidity Creation, and Financial Fragility: A Theory of Banking," Journal of Political Economy, University of Chicago Press, vol. 109(2), pages 287-327, April.
  3. Benmelech, Efraim & Dlugosz, Jennifer, 2009. "The alchemy of CDO credit ratings," Journal of Monetary Economics, Elsevier, vol. 56(5), pages 617-634, July.
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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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