Similarities between subprime crisis and Sweden 90’s crisis

I had pointed earlier about that the ongoing sub-prime crisis is very similar to 1987 crisis. And then we have a paper from Rogoff et al which says there is nothing different about it. Yes, the speech does attribute to the Rogoff paper so makes sense to read the paper. But, the speech is surely easier to read.

I came across this speech from Riksbank Governor, Stefan Ingves:

Some common denominators for the period prior to the outbreak of the crisis include a rapid increase in property and share prices, the fact that the current account deficit was large and growing and that economic growth had declined from an earlier high level. One important difference is that the exchange rate regime has not played a prominent role in the US case. 

 

One Response to “Similarities between subprime crisis and Sweden 90’s crisis”

  1. Similarity between 1997 crisis and 2007 crisis « Mostly Economics Says:

    […] I have pointed before no crisis is different and we see a lot of commentary comparing the same ( Sweden’s 90 crisis, 1987 crisis, Rogoff/ Reinhart and Bordo in seperate papers saying all crisis are […]

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