Archive for April 12th, 2010

Quantifying the Impact of Financial Development on Economic Development

April 12, 2010

I came across this paper by Richmond Fed economists – Jeremy Greenwood, Juan M. Sanchez and Cheng Wang. The title looked interesting but the paper was just too technical.

Anyways the abstract says:

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Read 13 bankers introductory chapter

April 12, 2010

13 bankers is a book written by Simon Johnson and James Kwak. They took the economic world by a storm by showing how powerful financial oligarchs have become over the years. The article was titled quiet coup.

The authors have put up an excerpt from the book (just scroll down).

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How did the sub-prime crisis become such a huge global crisis?

April 12, 2010

There are two broad questions w.r.t to this crisis. One how did the crisis occur? Two, how did it become such a global event? For the first question, Gary Gorton provides a super easy to read analysis. The second question is a more difficult question as there are so many channels at work.

In this paper, Fed economists Steven Kamin and Laurie Pounder DeMarco try and answer the second question. They say there are two ways crisis becomes global- direct contagion and indirect contagion.

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