Initial Lessons of the Crisis
February 6, 2009
Summary
This paper summarizes the initial lessons of the financial crisis along three dimensions—regulation, macroeconomic policy, and the global architecture for stability. The focus here is not on the near-term resolution of the crisis or the long-term consequences (which must be left to other papers), but rather on prevention, bearing in mind that crises will inevitably recur. The underlying analysis is elaborated in three related staff papers to be issued separately.
Subject: Bank supervision, Capital markets, Crisis prevention, Economic policy, Financial crisis, Financial systems, Liquidity management, Monetary policy
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Policy Papers
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