Two highly readable reports on the lessons learnt from the Northern Rock debacle have been published recently. The first is the Treasury Committee Report The Run on the Rock published on January 26.
Lessons from Northern Rock: Banking and shadow banking
Willem Buiter, 4 March 2008
Subprime 'crisis': observations on the emerging debate
Charles Wyplosz, 16 August 2007
As financial anxiety keeps mounting worldwide, comments flourish and joyfully contradict each other. Central banks are bailing out dangerous gamblers, says one. They are skillfully preventing a 1929-style crash, says another one. Things are being gradually normalized, some assert. This is just the beginning of a vicious circle of unforeseen meltdown, just wait, warn others.
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
Cadot, de Melo, 16 June 2014