208-2011-L12

208-2011-L12 - Econ208 MarekKapicka Lecture12...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
Econ 208 Marek Kapicka Lecture 12 Financial Intermediation
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Where are we? n Introduction: A model with no Government n The Effects of Government Spending n Government Taxation and Government Debt n Labor Taxation n Government Debt n Financial Intermediation n Fiscal and Monetary Policy n Optimal Monetary Policy
Background image of page 2
Financial crises n Economic crisis in 2007-2008 : The  largest recession since the Great  Depression n Associated with  banking crisis n The first banking crisis in the US since the  Great Depression n However, banking crises are recurrent n Before 1913 n In other countries n Banking crises are nothing new!
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Recent Crises n Scandinavian Crisis 1990-1991 n Increase in asset and housing prices before the crisis n 1990-1991: increase in oil prices, collapse of trade with  Soviet Union triggered a crisis n Sweden: took over major banks, recapitalized them and sold  them later n Japan 1990’s n The Argentina Crisis 2001-2002 n The Russian Crisis, 1998
Background image of page 4
A. History of banking crises:  U.S.  n Before 1914: Crises were a frequent  phenomenon in the U.S.  n National banking era 1863-1913 n They have occurred at about 10 year  intervals
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 38

208-2011-L12 - Econ208 MarekKapicka Lecture12...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online