The Credit Crisis: Conjectures about Causes and Remedies

Douglas W. Diamond, Raghuram Rajan

NBER Working Paper No. 14739
Issued in February 2009
NBER Program(s):Asset Pricing Program, Corporate Finance Program, International Finance and Macroeconomics Program, Monetary Economics Program

What caused the financial crisis that is sweeping across the world? What keeps asset prices and lending depressed? What can be done to remedy matters? While it is too early to arrive at definite answers to these questions, it is certainly time to offer informed conjectures, and these are the focus of this paper.

Acknowledgments

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Document Object Identifier (DOI): 10.3386/w14739

Published: Douglas W. Diamond & Raghuram G. Rajan, 2009. "The Credit Crisis: Conjectures about Causes and Remedies," American Economic Review, American Economic Association, vol. 99(2), pages 606-10, May. citation courtesy of

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