The crisis that the world has known since July 2008 still poses many puzzles. How did we get there when the mechanisms seem relatively simple and could have been anticipated ? Does this crisis mark the failure of monetary policies of the 1980s and is it the return of Keynesian revival policies ? The Paris School of Economics organized an exceptional seminar bringing together eight crisis specialists, academic and professional, to shed light on the debate. Video extracts.
The elements of the financial crisis are beginning to be known: search for home ownership, reckless loans to unwanted households, securitization and dissemination in the economy of the most risky or even insolvent loans, reversal of the American real estate market and snowball effect of the lack of confidence between financial agents and in particular between banks, drying up interbank loans and credit in the economy. The crisis that the world has experienced since July 2008 still poses many puzzles: the mechanisms seem relatively simple and therefore anticipable, why then were we arrived there ? Is this crisis comparable to that of 1929 or does it have specificities ? Does it mark the failure of monetary policies of the 1980s and in particular the independence of the Central Bank and its objective ? What are the modes of resolution of the crisis and are attended to return from Keynesian revival policies ? To shed light on the debate, the Paris School of Economy organized an exceptional seminar bringing together eight crisis specialists, academic and professional.
The financial crisis and the future of the financial systemdebate organized at the Paris School of Economy on October 14, 2008.
Summary of interventions:
– François Bourguigon, Pse-Paris Economy School
– David Naudé, Deutsche Bank
– Fabrizio Coricelli, Paris 1, THESE and Cepr
– André Orléan, Pse-Paris Economy School and Ehess
– Gunther Cappelle-Blancard, Paris 1, THESE
– Paul Besson, Trading in Hedge Fund Industry
– Gabrielle Demange, Pse-Paris Economy School
– Olivier Godechot, CMH
– Philippe Martin, Pse-Paris economics school, Paris I and Cepr
François Bourguigon, Pse-Paris Economy School
David Naudé (Deutsche Bank)
Fabrizio Coricelli (Paris 1, THESE and Cepr))
André Orléan (Pse-Paris Economy School and Ehess ))
Gunther Cappelle-Blancard (Paris 1, THESE))
Paul Besson (Trading in Hedge Fund Industry)
Gabrielle Demange (Pse-Paris Economy School)
Olivier Godechot (CMH))
Philippe Martin, (Pse-Paris economics school, Paris I and Cepr))