Reading List – Financial Crisis-cum-Great Recession
Baker Scott R.; Nicholas Bloom; and Steven J. Davis. Measuring Economic Policy Uncertainty.
Working Paper, Department of Economics, University of Chicago, October 2011.
URL: http://faculty.chicagobooth.edu/steven.davis/pdf/PolicyUncertainty.pdf
Bank for International Settlements. 2009. 79th Annual Report.
URL: http://www.bis.org/publ/arpdf/ar2009e2.pdf
Bernanke, Ben S. 2005. “The Global Saving glut and the U.S. Current Account Deficit.” The
Sandridge Lecture, April 14.
URL: http://www.federalreserve.gov/boarddocs/speeches/2005/200503102/.
Bernanke, Ben S. 2010. “Causes of the Recent Financial and Economic Crisis.” Testimony before the
Financial Crisis Inquiry Commission, Washington, D.C., September 2.
URL: http://www.federal reserve.gov/newsevents/testimony/bernanke20100902a.htm
Campello, Murillo, John R. Graham, and Campbell R. Harvey. 2010 “The Real Effects of Financial
Constraints: Evidence from a Financial Crisis.” Journal of Financial Economics 97 (3): 47087.
Case, Karl E., and Robert J. Shiller. 2003. “Is There a Bubble in the Housing Market?” Brookings
Papers on Economic Activity 2: 299-342.
Covitz, Daniel, Nellie Liang, and Gustavo Suarez. “The Evolution of a Financial Crisis: Collapse of
the Asset-Backed Commercial Paper Market.” Forthcoming, Journal of Finance.
URL: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1364576
Gorton, Gary, and Andrew Metrick. “Securitized Banking and the Run on Repo.” Forthcoming,
Journal of Financial Economics.
URL: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1440752
Hetzel, Robert L. “Monetary Policy in the 2008-09 Recession.” Federal Reserve Bank of Richmond
Economic Quarterly 95, no. 2 (2009): 201-233.
URL:
http://www.richmondfed.org/publications/research/economic_quarterly/2009/spring/pdf/hetze
l2.pdf
International Monetary Fund. 2009. Global Financial Stability Report, October 2009: navigating the
Financial Challenges Ahead. Washington, D.C.: International Monetary Fund.
URL: http://www.imf.org/external/pubs/ft/gfsr/2009/02/pdf/text.pdf
International Monetary Fund. 2010. Global Financial Stability Report: Sovereigns, Funding, and
Systemic Liquidity. Washington, D.C.: International Monetary Fund.
URL: http://www.imf.org/external/pubs/ft/gfsr/2010/02/pdf/text.pdf
Ivashina, Victoria, and David Scharfstein. “Bank Lending during the Financial Crisis of 2008.”
Journal of Financial Economics 97 (2010): 319-38.
Kling, Arnold. “Not What They Had in Mind: A History of Policies that Produced the Financial
Crisis of 2008.” Working Paper – Department of Economics, George Mason University,
2009.
URL:
http://mercatus.org/uploadedFiles/Mercatus/Publications/NotWhatTheyHadInMind%281%29
.pdf
McCabe, Patrick E. “The Cross Section of Money Market Fund Risks, and Financial Crises.” Board
of Governors of the Federal Reserve System Finance and Economics Discussion Series 201051, 2010.
URL: http://www.federalreserve.gov/pubs/feds/2010/201051/201051pap.pdf
Pozsar, Zoltan. “Institutional Cash Pools and the Triffin Dilemma of the U.S. Banking System.”
International Monetary Fund Working Paper 11/190, 2011.
URL: http://www.imf.org/external/pubs/ft/wp/2011/wp11190.pdf
Puri, Manju, Jorg Rochool, and Sascha Steffen. “Global Retail Lending in the Aftermath of the US
Financial Crisis: Distinguishing between Supply and Demand Effects.” Journal of Financial
Economics 100 (2011): 556-78.
Reinhart, Carmen M., and Kenneth S. Rogoff. “Is the 2007 US Sub-prime Financial Crisis So
Different? An International Historical Comparison.” American Economic Review 98 (2008):
339-44.
Reinhart, Carmen M., and Kenneth S. Rogoff. “From Financial Crash to Debt Crisis.” American
Economic Review 101 (2011): 1676-706.
Schularick, Moritz, and Alan M. Taylor. “Credit Booms Gone Bust: Monetary Policy, Leverage
Cycles, and Financial Crises, 1870-2008.” American Economic Review 102 (2012): 10291061.
Stock, James H. and Mark W. Watson. “Disentangling the Channels of the 2007-2009 Recession.”
Forthcoming, Brookings Papers on Economic Activity, 2012.
URL:
http://www.brookings.edu/~/media/Files/Programs/ES/BPEA/2012_spring_bpea_papers/201
2_spring_BPEA_stockwatson.pdf
Taylor, John B. “Getting Back on Track: Macroeconomic Policy Lessons from the Financial Crisis.”
Federal Reserve Bank of St. Louis Review (May/June 2010): 165-176.
URL: http://research.stlouisfed.org/publications/review/10/05/Taylor.pdf
Books Presentations – Great Recession
November 12th - Barber, Hetzel, Wessel
November 19th – Gorton, Rajan, Reinhart/Rogoff
November 26th – Johnson/Kwak, McClean/Nocera, Morgenson/Rosner