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Other Publications Year : 2009

Four Myths and a Financial Crisis

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Radu Vranceanu

Abstract

The main driving force of the financial crisis of 2007-2009 was a rapid deterioration of the trust of private agents in the quality of financial institutions. In turn, this loss of confidence entailed the collapse of several key asset markets and a sharp decline in the other asset prices. This paper surveys the critical moments of the crisis, puts forward some of the shock amplifying mechanisms and comments on the effectiveness of various policy measures. The conclusion opens the debate on what structural changes in the existing financial architecture are required to contain such crises in the future.
L'article retrace les moments critiques de la crise financière 2007-2009, etudie les mecanismes de propagation des chocs, evalue les politiques économiques mises en oeuvre pour faire face à cettre crise.
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Dates and versions

hal-00554704 , version 1 (11-01-2011)

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  • HAL Id : hal-00554704 , version 1

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Radu Vranceanu. Four Myths and a Financial Crisis. 2009. ⟨hal-00554704⟩

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