The Financial Crisis and the Policy Responses: An Empirical Analysis of What Went Wrong

John B. Taylor

NBER Working Paper No. 14631
Issued in January 2009
NBER Program(s):   EFG   IFM   ME

This paper is an empirical investigation of the role of government actions and interventions in the financial crisis that flared up in August 2007. It integrates and summarizes several ongoing empirical research projects with the aim of learning from past policy. The evidence is presented in a series of charts which are backed up by statistical analysis in these research projects.

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Acknowledgments

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