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The start of this weblog goes back to early 2007. It started at a time, when the financial crisis was not very obvious. It has helped to understand many readers the causes and consequences of such a crisis. The Dubai debt crisis reminds us that the financial system is still in a fragile stage. A good moment to re-post links to most convincing academic contributions. These contributions show that it will take time to get back to a stable financial system. The IMF country debt analysis shows that we are facing a long-term problem regarding public finances.
Economic causes and consequences of financial crises:
Reinhart and Rogoff:
MO: This time is not very different, April 19, 2008
MO: The economy after financial crises, Jan. 29, 2009
Robert J. Shiller:
MO: Impact of alleged `paradigm shifts`, April 4, 2007
MO: Investor behavior during 1987 stock market crash, July 31, 2007
MO: Wisdoms about bubbles, Sept. 25, 2007
MO: Testimony of R.J. Shiller; submitted to the congress of the United States, Nov. 1, 2007
MO: How probable was the current situation of the financial system on the outcome tree?, March 16, 2008
MO: Robert Shiller about rebuilding confidence, Dec. 14, 2008
MO: The NYT about the new book by George A. Akerlof and Robert J. Shiller, April 20, 2009
Michael D. Bordo:
MO: Same old story, only players have changed, Nov. 8, 2007
Public Finances:
MO: IMF: The state of public finances across countries, Nov. 6, 2009
Markets:
MO: Morgan Stanley analysts research bear markets, Sept. 19, 2009