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The Crisis: Basic Mechanisms, and Appropriate Policies


Olivier J. Blanchard


Massachusetts Institute of Technology (MIT) - Department of Economics; National Bureau of Economic Research (NBER); International Monetary Fund (IMF)
December 29, 2008

MIT Department of Economics Working Paper No. 09-01

Abstract:     
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.

Number of Pages in PDF File: 34

Keywords: financial crisis, credit, liquidity, spreads, leverage

JEL Classification: E32, E44

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Date posted: January 10, 2009 ; Last revised: January 15, 2009

Suggested Citation

Blanchard, Olivier J., The Crisis: Basic Mechanisms, and Appropriate Policies (December 29, 2008). MIT Department of Economics Working Paper No. 09-01. Available at SSRN: http://ssrn.com/abstract=1324280 or http://dx.doi.org/10.2139/ssrn.1324280

Contact Information

Olivier J. Blanchard (Contact Author)
Massachusetts Institute of Technology (MIT) - Department of Economics ( email )
Room E52-357
50 Memorial Drive
Cambridge, MA 02142
United States
617-253-8891 (Phone)
617-253-4096 (Fax)
HOME PAGE: http://mit.edu/blanchar/www/
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
International Monetary Fund (IMF) ( email )
700 19th Street, N.W.
Washington, DC 20431
United States
202 623 7825 (Phone)
202 623 7271 (Fax)
Feedback to SSRN (Beta)


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