In this paper David Murphy outlines the principal factors which led to the current Credit Crunch. Some of the major market events are discussed, their causes suggested, and some policy changes for avoiding future crunches are reviewed.
Patrick Bajari, Chenghuan Sean Chu and Minjung Park point to flaws in the securitization process that led to the current wave of defaults and use their model to evaluate alternative policies aimed at reducing the rate of default.
While most policy proposals for the overhaul of the US, UK, and international financial regulation predominantly deal with issues relating to the containment of a systemic crisis, this paper by Emilios Avgouleas, offers more radical solutions, which deal with the prevention of such a crisis.
Ivo Welch, "a reasonably well-known professor of financial economics", is currently at Brown University (previously at UCLA and Yale)
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HBS professor William A. Sahlman argues that the macroeconomic problems were the result of terrible microeconomic decisions.
Misguided financial risk models created a false sense of security that helped lead to the credit crisis, according to Riccardo Rebonato.
Robert Jarrow discusses the relationship of quantitative models to the market crisis, as well as his research and teaching.
The Baseline Scenario is dedicated to explaining some of the key issues in the global economy and developing concrete policy proposals.
Gregory A. Krohn and William R. Gruver draw several lessons about the behavior of financial markets and financial regulation from this historic period.
An article by Rob de Wijk assessing the consequences of the global economic crisis for Europe.
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By Michael de Portu of the Prism Group LLC.
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By Gabriele Sabato, Group Credit Risk, RBS; University of Rome.
Here is a guide to many of the business terms currently cropping up regularly, as well as some of the more exotic words coined to describe some of the social effects of the credit crunch.
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Robert Perston's thoughts on how the global crisis occurred and what the re-made economy will look like.
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By Gary B. Gorton, Yale School of Management; National Bureau of Economic Research (NBER)
This paper by Stuart M. Turnbull, Michel Crouhy and Robert A. Jarrow examines the different factors that have contributed to the subprime mortgage credit crisis.
Gary B Gorton writes: Understanding the ongoing credit crisis or panic requires understanding the designs of a number of interlinked securities, special purpose vehicles, and derivatives, all related to subprime mortgages.
This paper by Yaz Gulnur Muradoglu first discusses the triggers of the financial crisis in the UK, then goes over the immediate reactions to it in the form of short term policies and concludes with a discussion of long term policies.
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