A year of living dangerously: The management of the financial crisis in 2008

Journal of Economic Perspectives

Volumn 25, Issue 1, 2011, Pages 71-90

  Reinhart, Vincent ^a,b  

^a AMERICAN ENTERPRISE INSTITUTE   (United States)

^b FEDERAL RESERVE BOARD   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 79951806654     PISSN: None     EISSN: 08953309     Source Type: Journal    
DOI: 10.1257/jep.25.1.71     Document Type: Conference Paper

References (35)

1. Allen, Franklin, and Douglas Gale. 2007. Understanding Financial Crises. Oxford: Oxford University Press.
2. Bagehot, Walter. 1873. Lombard Street: A Description of the Money Market. London: Henry, S. King & Co.
3. Bernanke, Ben. 2008a. "Developments in the Financial Markets." Testimony before the Committee on Banking, Housing and Urban Affairs, United States Senate, April 3.
4. Bernanke, Ben. 2008b. "U. S. Financial Markets." Testimony before the Committee on Banking, Housing and Urban Affairs, United States Senate, September 23.
5. Bernanke, Ben. 2010. "Lessons from the Failure of Lehman Brothers." Testimony before the Committee on Financial Services, United States House of Representatives, April 20.
6. Brunnermeier, Markus K 2009. "Deciphering the Credit Crunch 2007-2008." Journal of Economic Perspectives, 23(1):77-100.
7. Bryant, John. 1980. "A Model of Reserves, Bank Runs, and Deposit Insurance." Journal of Banking and Finance, 4(4):335-44.
8. Calvo, Guillermo A., and Enrique G. Mendoza. 2000. "Rational Contagion and the Globalization of Securities Markets." Journal of International Economics, 51(1):79-113. (Pubitemid 30323129)
9. Carter, Susan, Scott Gartner, Michael R. Haines, Alan L. Olmstead, Richard Sutch, and Gavin Wright, eds. 2006. The Historical Statistics of the United States: Millennial Edition. Cambridge: Cambridge University Press.
10. Claessens, Stijn, Daniela Klingebiel, and Luc Laeven. 2005. "Crisis Resolution, Policies and Institutions: Empirical Evidence." In Systemic Financial Crises: Containment and Resolution, ed. Patrick Honohan, and Luc Laeven, 1169-96. New York: Cambridge University Press.
11. Cochrane, John H. 2009. "Lessons from the Financial Crisis." Regulation, 32(4):34-37.
12. Diamond, Douglas W, and Philip H. Dybvig. 1983. "Bank Runs, Deposit Insurance, and Liquidity." The Journal of Political Economy, 91(3):401-19.
13. Dixit, Avinash K 1998. The Making of Economic Policy: A Transaction-Cost Politics Perspective Netherlands: Springer.
14. Federal Reserve. "Flow of Funds Accounts of the United States."
15. Federal Reserve Bank of St. Louis. 2010. "The Financial Crisis: A Timeline of Events and Policy Actions." http://timeline.stlouisfed.org.
16. Friedman, Milton. 1953. "The Case for Flexible Exchange Rates." In Essays in Positive Economics. Chicago: University of Chicago Press.
17. Friedman, Milton, and Anna Jacobson Schwartz. 1963. A Monetary History of the United States, 1867-1960. Princeton University Press.
18. Geithner, Timothy F. 2008. "Actions by the New York Fed in Response to Liquidity Pressures in Financial Markets." Testimony before the Committee on Banking, Housing and Urban Affairs, United States Senate, April 3.
19. International Monetary Fund. 2008a. Global Financial Stability Report: Containing Systemic Risk and Restoring Financial Soundness. April 2008. International Monetary Fund.
20. International Monetary Fund. 2008b. Global Financial Stability Report: Financial Stress and Deleveraging Macro-Financial Implications and Policy. October 2008. International Monetary Fund.
21. Kashyap, Anil K, Raghuram G. Rajan, and Jeremy C. Stein. 2008. "Rethinking Capital Regulation. " Paper prepared for the Federal Reserve Bank of Kansas City Symposium at Jackson Hole, August.
22. Krishnamurthy, Arvind. 2010. "How Debt Markets Have Malfunctioned in the Crisis." Journal of Economic Perspectives, 24(1):3-28.
23. Levine, Ross. 2010. "An Autopsy of the U. S. Financial System." NBER Working Paper Series, w15956.
24. Meltzer, Allan. 2003. A History of the Federal Reserve, Vol. 1, 1913-1951. University of Chicago Press.
25. Paulson, Henry M. 2010. On the Brink: Inside the Race to Stop the Collapse of the Global Financial System New York: Hachette Book Group.
26. Reinhart, Carmen M., and Vincent R. Reinhart. 2009. "When the North Last Headed South: Revisiting the 1930s." Brookings Papers on Economic Activity, no. 2, pp. 251-76.
27. Reinhart, Carmen M., and Vincent R. Reinhart. 2010. "After the Fall." Paper prepared for the Federal Reserve Bank of Kansas City Symposium at Jackson Hole, August. http://www.kansascityfed.org/publicat/sympos/2010/ reinhart-paper.pdf.
28. Reinhart, Carmen M., and Kenneth S. Rogoff. 2008. "Is the 2007 U. S. Sub-Prime Financial Crisis So Different? An International Historical Comparison. " American Economic Review, 98(2):339-44.
29. Reinhart, Carmen M., and Kenneth S. Rogoff. 2009. This Time is Different: Eight Centuries of Financial Folly. Princeton: Princeton University Press.
30. Reinhart, Vincent R. 2009. "The Perfect Financial Storm Fallacy." The American, July 31.
31. Shin, Hyun Song. 2009. "Reflections on Northern Rock: The Bank Run That Heralded the Global Financial Crisis." Journal of Economic Perspectives, 23(1):101-19.
32. Ross-Sorkin, Andrew. 2009. Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System-And Themselves. New York: Penguin Group USA.
33. Swagel, Phillip. 2009. "The Financial Crisis: An Inside View." Brookings Papers on Economic Activity, no. 1, pp. 1-63.
34. Wallison, Peter J., and Charles W. Calomiris. 2009. "The Last Trillion-Dollar Commitment: The Destruction of Fannie Mae and Freddie Mac." The Journal of Structured Finance, 15(1):71-80.
35. Wessel, David. 2009. In Fed We Trust: Ben Bernankes War on the Great Panic. New York: Crown Publishing Group (Random House Inc.).