## Where Danger Lurks

_IMF Blog, September 22, 2014_

## Source details

**Canonical URL:** [Where Danger Lurks](https://www.imf.org/en/blogs/articles/2014/09/22/where-danger-lurks)

## Other formats

- [Markdown version](/en/blogs/articles/2014/09/22/where-danger-lurks/index.md)
- [Structured JSON version](/en/blogs/articles/2014/09/22/where-danger-lurks/index.json)
- [Bundle manifest](/en/blogs/articles/2014/09/22/where-danger-lurks/bundle-manifest.json)

## Bibliographic details
- Published: September 22, 2014

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### Overview
- Article title: "Where Danger Lurks"
- Publication date: September 22, 2014
- Author referenced: Olivier Blanchard, IMF’s chief economist
- Publication outlet: Finance & Development Magazine
- Central topics: small shocks, sudden stops, and liquidity

### Substantive findings and themes
- The article examines "dark corners" of the financial crisis—situations in which the economy could badly malfunction.
- Focus on how small shocks can trigger large adverse outcomes through sudden stops and liquidity problems.
- Emphasis that the financial system and the economy were more vulnerable than previously believed.

### Key quote (author's assessment)
- “We all knew that there were ‘dark corners’ — situations in which the economy could badly malfunction,” Blanchard said. “The main lesson of the crisis is that we were much closer to those dark corners than we thought — and the corners were even darker than we had thought too."

*Source: IMF blog landing page "Where Danger Lurks", September 22, 2014*

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## References

- [Olivier Blanchard](http://blogs.imf.org/bloggers/olivier-blanchard/)
- [Where Danger Lurks’](http://www.imf.org/external/pubs/ft/fandd/2014/09/blanchard.htm)
- [Finance & Development](https://www.imf.org/en/blogs/articles/2014/09/22/www.imf.org/fandd)

_Source: https://www.imf.org/en/blogs/articles/2014/09/22/where-danger-lurks_