The global financial crisis is often defined by the collapse of the investment bank Lehman Brothers in September 2008. This book, first published as an eBook three months prior to the collapse, recognises that a global crisis was already well underway. It highlights how losses in the US subprime market had spread beyond the confines of the US mortgage sector and the borders of the United States, how risk spreads had ballooned and liquidity in some markets had dried up forcing large financial institutions to report significant losses. Bank runs were no longer the stuff of history. The financial crisis that emerged and the policy responses have been unprecedented in scale. They have also challenged economists to explain where the global crisis came from, where it was heading, and what could be done. This book brings together the views and predictions of leading economists published on VoxEU.org months before the developments of late 2008 in a volume that holds its own against the events that followed.
- ISBN10 0955700930
- ISBN13 9780955700934
- Publish Date 1 July 2008
- Publish Status Out of Print
- Out of Print 7 May 2021
- Publish Country GB
- Imprint Centre for Economic Policy Research
- Format Paperback (US Trade)
- Pages 204
- Language English