IMF Working Papers

The Crisis: Basic Mechanisms and Appropriate Policies

By Olivier J Blanchard

April 1, 2009

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Olivier J Blanchard. The Crisis: Basic Mechanisms and Appropriate Policies, (USA: International Monetary Fund, 2009) accessed October 16, 2024
Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The purpose of this lecture is to look beyond the complex events that characterize the global financial and economic crisis, identify the basic mechanisms, and infer the policies needed to resolve the current crisis, as well as the policies needed to reduce the probability of similar events in the future.

Subject: Banking, Emerging and frontier financial markets, Financial crises, Financial institutions, Financial markets, Financial statements, Housing prices, Mortgages, Prices, Public financial management (PFM)

Keywords: A number of asset class, Asset, Asset price booms, Asset purchase, Bank, Credit, Credit rationing, Emerging and frontier financial markets, Financial Crisis, Financial statements, Global, Housing prices, Investor, Issued assets, Leverage, Liquidity, Mortgages, Off-balance sheet assets, Price, Spending, Subprime loan, Value, Value of the assets, WP

Publication Details

  • Pages:

    22

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 2009/080

  • Stock No:

    WPIEA2009080

  • ISBN:

    9781451872279

  • ISSN:

    1018-5941