Articles
Articles and analyses from the INET community on the key economic questions of our time.
Sovereigns versus banks: Crises, causes and consequences
In the aftermath of the global financial crisis, few would dispute the risks of excessive borrowing. But which debts should one worry about – public or private? This column presents new research on the interplay of public and private debts since 1870 in 17 advanced economies. History demonstrates that excessive private-sector borrowing plays a greater role than fiscal profligacy in generating financial instability. However, when the credit boom collapses, the government’s capacity to alleviate the downturn is limited by the prevailing level of public debt.
A Model’s Crisis
Lehman Was Not Alone – Measuring System Risk in the 2008 Crisis
what would measures of systematic risk have indicated to Treasury Secretary Paulsen if they had been available at that time?
Bankers Will Be Let Off the Hook If We Don't Start to Take Ourselves Seriously
How can we contain institutional failure?