The 2007 Financial Crisis: Facts, Causes and Future Scenarios (La Crisi 2007-?: Fatti, Ragioni E Possibili Conseguenze)

MoFiR Working Paper No. 27

25 Pages Posted: 4 Jul 2009 Last revised: 6 Jul 2009

See all articles by Andrea Filippo Presbitero

Andrea Filippo Presbitero

Università Politecnica delle Marche - Department of Economics; Centre for Macroeconomics & Finance Research (CeMaFiR)

Date Written: July 2, 2009

Abstract

This paper provides an interpretation of the current financial crisis reviewing a broad and expanding literature. The different causes of the crisis are pointed out and the severity of the ongoing recession is compared with past experiences. The intensity and the global scale of the crisis are disclosing some weaknesses of the capitalist economy. The crisis has roots in some failures of the market economy, but also in other structural transformation of our society with are less related with economics and more with cultural factors.

Note: Downloadable document is in Italian.

Keywords: Crisi finanziaria, Disuguaglianze, Mutui subrime

JEL Classification: E44, G20, G21

Suggested Citation

Presbitero, Andrea Filippo, The 2007 Financial Crisis: Facts, Causes and Future Scenarios (La Crisi 2007-?: Fatti, Ragioni E Possibili Conseguenze) (July 2, 2009). MoFiR Working Paper No. 27. Available at SSRN: https://ssrn.com/abstract=1429507 or http://dx.doi.org/10.2139/ssrn.1429507

Andrea Filippo Presbitero (Contact Author)

Università Politecnica delle Marche - Department of Economics ( email )

Piazzale Martelli, 8
Ancona, AN 60121
Italy
+39 0712207074 (Phone)

HOME PAGE: http://sites.google.com/site/presbitero/

Centre for Macroeconomics & Finance Research (CeMaFiR) ( email )

Piazza Mirabello, 2
Milan, 20100
Italy

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