Section 4: Reading material

Video in French:
Financial Times video (Tuesday 17 March 2020???) Coronavirus:can we protect market and companies? Instant analysis of immediate market and economic problems.

Michel Aglietta on the financial cycle and a new financial crisis (about 4 minutes), January 2020.
Claudio Borio, Macroprudential frameworks: experience, prospects and a way forward, Annual General Meeting of the Bank of International Settlements, Basel, 24 June 2018.
Brian S. Wesbury, The Real Truth About the 2008 Financial Crisis, TED Talk, 2014 (some good points here, but the conclusion that regulators got in wrong and the free market would have been better is highly dubious, to say the least).

For some essential reading see:

Spencer Anderson, "A history of the past 40 years in financial crises", International Financing Review, 06 August 2013.

Tim Besley and Peter Hennessy et al., Letter to the Queen explaining why nobody had expected the financial crisis, British Academy, 22 July 2009.

Craig S. Hakkio, "The Great Moderation 1982 - 2007", Federal Reserve Bank of Kansas City, November 22, 2013.

Ben Bernanke, "The Global Savings Glut and the U.S. Current Account Deficit", Remarks at the Sandridge Lecture, Virginia Association of Economists, Richmond, Virginia, March 10, 2005.

Mervyn King, "Trusting in Money: From Kirkcaldy to the MPC", Speech, The Adam Smith Lecture, 29 October 2006.

Michael McLeay, Amar Radia and Ryland Thomas, "Money in the modern economy: an introduction", Bank of England Quarterly Bulletin 2014, Q1 (see the pdf text on this page).

Michael McLeay, Amar Radia and Ryland Thomas, "Money creation in the modern economy", Bank of England Quarterly Bulletin 2014, Q1.

Hyman Minsky, "The Financial Stability Hypothesis", The Jerome Levy Economics Institute of Bard College, May 1992.

Maurice Obstfeld and Kenneth Rogoff, "Global Imbalances and the Financial Crisis: Products of Common Causes", November 2009.

OECD, In It Together: Why Less Inequality Benefits All, Paris 2015: See Chapter 1 in particular.

Jerome Powell (Chair of the Fed), Monetary Policy-: Normalization and the Road Ahead, March 08, 2019, speech at the SEIPR Economic Summit, Standford California.

Raghuram Rajan, "Has Financial Development Made the World Riskier?" NBER Working Paper 11728, November 2005.

Matthew Sherman, "A Short History of Financial Deregulation in the United States", CEPR, July 2009.

Laurence Summers - see his Harvard webpage on "secular stagnation".

Daniel Tarullo, "Financial Regulation Since the Crisis", Speech at the Federal Reserve Bank of Cleveland, December 02, 2016.

Yanis Varoufakis, "Trump, the Dragon, and the Minotaur", Project Syndicate, November 28, 2016.

Other texts mentioned:

Michel Aglietta et André Orléan, La Monnaie entre violence et confiance, Paris, Odile Jacob, 2002.

David Graeber, Debt: the First 5000 years, Brooklyn/London, Melville House, 2011, (paperback 2012).

Mervyn King, The End of Alchemy: Money, Banking and the Future of the Global Economy, London, Little Brown, 2016.

Felix Martin, Money: The Unauthorised Biography, London, Vintage Books, 2013 (an excellent and fun read!).

Last modified: Wednesday, 18 March 2020, 11:17 PM