1.

Record Nr.

UNINA9910825900403321

Autore

Blanchard Olivier

Titolo

The crisis : asic mechanisms and appropriate policies / / prepared by Olivier Blanchard

Pubbl/distr/stampa

[Washington D.C.], : International Monetary Fund, 2009

ISBN

1-4623-4366-X

9786612843013

1-282-84301-X

1-4518-7227-5

1-4519-8525-8

Edizione

[1st ed.]

Descrizione fisica

1 online resource (24 p.)

Collana

IMF working paper ; ; WP/09/80

Disciplina

338.12516

Soggetti

Economic stabilization

Economic indicators

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Description based upon print version of record.

Nota di bibliografia

Includes bibliographical references.

Nota di contenuto

Contents; I. Introduction; Figures; 1. Initial Subprime Losses and Declines in World GDP and World Stock Market Capitalization; II. Initial Conditions; 2. A Visual Sense of the Complexity: From Mortgages to Securities; 3. Connectedness Across Countries: Advanced Economies Banks' Claims on the Rest of the World; III. Amplification Mechanisms; IV. Dynamics in Real Time; 4. Contagion Across Assets, Institutions, and Countries; 5. Counterparty Risk in the Advanced Economies; 6. Bank Lending Standards in the U.S. and the Euro Area; 7. Emerging Market Sovereign Spreads; 8a. Decrease in Stock Prices

8b. Decrease in Business and Consumer ConfidenceV. Policies for the Short Run; 9. Growth Forecasts for 2009.; 10. Counterparty Risk Since September 2008; 11. Emerging Market Sovereign Spreads Since September 2008; VI. Policies to Avoid a Repeat; VII. Conclusions; References

Sommario/riassunto

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.