The Crisis: Basic Mechanisms and Appropriate Policies

24 Pages Posted: 28 Apr 2009

See all articles by Olivier J. Blanchard

Olivier J. Blanchard

National Bureau of Economic Research (NBER); Peter G. Peterson Institute for International Economics

Multiple version iconThere are 2 versions of this paper

Date Written: April 2009

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.

Keywords: Financial crisis, Fiscal policy, Monetary policy, Housing prices, Securities markets, Financial instruments, Globalization, Financial institutions, Emerging markets, Debt, Credit risk

JEL Classification: E32, E44

Suggested Citation

Blanchard, Olivier J., The Crisis: Basic Mechanisms and Appropriate Policies (April 2009). IMF Working Papers, Vol. , pp. 1-22, 2009. Available at SSRN: https://ssrn.com/abstract=1394780

Olivier J. Blanchard (Contact Author)

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Peter G. Peterson Institute for International Economics ( email )

1750 Massachusetts Avenue, NW
Washington, DC 20036
United States

Register to save articles to
your library

Register

Paper statistics

Downloads
1,053
Abstract Views
3,391
rank
836
PlumX Metrics