Epstein Secrets

014. "The Failure Resolution of Lehman Brothers." Economic Policy Review 20 (2), http://www.newyorkfed.org/research/epr/2014/1403flem.html. French, Kenneth, et al. 2010a. "An Expedited Resolution Mechanism for Distressed Financial Finns: Regulatory Hybrid Securities." In The Squam Lake Report: Fixing th

ng and other banks and institutions could not fill the gap, so the otherwise healthy economy (healthy demand for investment) was starved of funds5. Bernanke (1983) really started the modern credit constraints view. In his analysis, banks in the Great Depression failed, and then the human and organization

: Investment Strategy Group, Datastream, Global Financial Data. * We define “severe” recessions according to those identified by Carmen Reinhart and Kenneth Rogoff in “Recovery from Financial Crises: Evidence from 100 Episodes” (2014), as well as the 1937 recession (a continuation of the 1929 recession) an

d the US wars in Afghanistan and Iraq. It had already reached current levels before the global financial crisis. Former Federal Reserve Chairman Ben Bernanke has named traumatic national shocks such as 9/11 along with political polarization and “shrill” political debates as possible culprits of the contrad

omics, by Maurice Obstfeld and Kenneth Rogoff, MIT Press, 1996. e This Time Is Different: Eight Centuries of Financial Folly, by Carmen Reinhart and Kenneth Rogoff, Princeton University Press, 2009, (selected chapters). Readings: Readings can be accessed online or are available on Reserve at Lamont Librar

SION *Diamond, Douglas and Philip H. Dybvig, "Bank Runs, Deposit Insurance, and Liquidity," Journal of Political Economy 91(3): 401-19, June 1983. *Bernanke, Ben, “Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression,” American Economic Review 73 (June 1983): 257-76. Col