Anatomy of the 2008 Financial Crisis (Part II): Institutional Fragility in the Supply of Money and Credit
4 Pages Posted: 27 Feb 2009
Date Written: February 26, 2009
This document continues (see, Part I) my attempt to understand and build consensus about the causes and solutions to the financial crisis. The document summarizes my ideas and is intended to be written so that a non-specialist can grasp the content and contribute to the discussion. Part II differs from Part I because of its focus on institutional structures in the current US monetary system that give rise to contagion - thus having caused the crisis to spread from the financial sector to the broader economy.
Keywords: financial crisis, money, banking, credit, monetary policy
JEL Classification: E51, E5, E4, E3, E0, A1
Suggested Citation: Suggested Citation