what have we learnt about the financial crsis of 2008.pdf

7/24/2019 What have we learnt about the financial crsis of 2008.pdf

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World Economics • Vol. 16 • No. 2 • April-June 2015

What Have We Learned From the

Global Financial Crisis of 2008-09

and its Aftermath?

Anthony Elson

Key Points




Thinking about the aggregate economy

Lesson (i)




Lesson (ii)




Lesson (iii)




The financial sector and its regulation

Lesson (iv)




Lesson (v)




Lesson (vi)




Lesson (vii)

Monetary policy

Lesson (viii)




Lesson (ix)

Lesson (x)




Lesson (xi)




Lesson (xii)

Lesson (xiii)

Fiscal policy

Lesson (xiv)




Lesson (xv)

Lesson (xvi)




The global financial architecture

Lesson (xvii)

Lesson (xviii)




Lesson (xix)




Lesson (xx)




Conclusion



C o p y r i g h t o f W o r l d E c o n o m i c s i s t h e p r o p e r t y o f E c o n o m i c s & F i n a n c i a l P u b l i s h i n g L t d a n d

i t s c o n t e n t m a y n o t b e c o p i e d o r e m a i l e d t o m u l t i p l e s i t e s o r p o s t e d t o a l i s t s e r v w i t h o u t t h e

c o p y r i g h t h o l d e r ' s e x p r e s s w r i t t e n p e r m i s s i o n . H o w e v e r , u s e r s m a y p r i n t , d o w n l o a d , o r e m a i l

a r t i c l e s f o r i n d i v i d u a l u s e .

what have we learnt about the financial crsis of 2008.pdf

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