Financial Macroeconomics: Putting Goldman Sachs into a Ramsey Model

Economics

Speaker:Professor David Vines, Economics Department and Balliol College, Oxford University; Centre for Applied Macroeconomic Analysis, Australian National University; and CEPR
Date: Friday 14 May 2010
Time: 16:15
Location: STC/D

Further details

This paper discusses the role of a highly-leveraged financial system in precipitating the global financial crisis. It suggests how, with such a financial system, a small shock - to the US housing market - caused a huge crisis - in the entire global financial system.