Crisis prevention is never an easy task and past experiences tell us that great turbulences may come in many different forms. As for the present global crisis, its inception was a mixture of errors of economic policy, of greed on the part many creditors and borrowers across the world and of inadequate financial supervision from many agencies. This paper tries to pinpoint the roots of the crisis but it goes beyond that, for there is always an aftermath of the shock that has profound effects in the world economic fabric, effects which have to be pondered over to understand the range of the meltdown and the huge problems that lie ahead.
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- Elmendorf, Douglas W. & Gregory Mankiw, N., 1999.
Handbook of Macroeconomics,
in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 25, pages 1615-1669
- Douglas W. Elmendorf & N. Gregory Mankiw, 1998. "Government Debt," Harvard Institute of Economic Research Working Papers 1820, Harvard - Institute of Economic Research.
- Elmendorf, Douglas W. & Mankiw, N, 1999. "Government Debt," Scholarly Articles 2643866, Harvard University Department of Economics.
- Douglas W. Elmendorf & N. Gregory Mankiw, 1998. "Government debt," Finance and Economics Discussion Series 1998-09, Board of Governors of the Federal Reserve System (U.S.).
- Douglas W. Elmendorf & N. Gregory Mankiw, 1998. "Government Debt," NBER Working Papers 6470, National Bureau of Economic Research, Inc.
- Hyman P. Minsky, 1992. "The Financial Instability Hypothesis," Economics Working Paper Archive wp_74, Levy Economics Institute.
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