Tuesday, January 27, 2009

The Financial Crisis and the Policy Responses: An Empirical Analysis of What Went Wrong

By John Taylor, Stanford University and the Hoover Institution Working Group on Global Markets.

This paper is an empirical investigation of the role of government actions and interventions in the financial crisis that flared up in August 2007. It integrates and summarizes several ongoing empirical research projects with the aim of learning from past policy and thereby improving future policy. The evidence is presented in a series of charts which are backed up by statistical analysis in these research projects.

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