Getting up to Speed on the Financial Crisis: A One-Weekend-Reader's Guide
All economists should be conversant with "what happened?" during the financial crisis of 2007-2009. We select and summarize 16 documents, including academic papers and reports from regulatory and international agencies. This reading list covers the key facts and mechanisms in the build-up of risk, the panics in short-term-debt markets, the policy reactions, and the real effects of the financial crisis.
Thanks to Janet Currie (the editor) and Patrick McCabe for helpful comments, and to Jeanne Helene Gobat, Campbell Harvey, Arvind Krishnamurthy, Nellie Liang, Patrick McCabe, Zoltan Pozsar, Carmen Reinhart, Kenneth Rogoff, and Alan Taylor for assistance with the figures. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.
Gary Gorton & Andrew Metrick, 2012. "Getting Up to Speed on the Financial Crisis: A One-Weekend-Reader's Guide," Journal of Economic Literature, American Economic Association, vol. 50(1), pages 128-50, March. citation courtesy of