PS Ökonometrie und angewandte Wirtschaftsforschung

The economic crisis and the crisis of economics

Part 1

Joint readings

Roubini, Nouriel and Stephen Mihm (2010). Crisis Economics.

Chapter 1: The White Swan

A brief history of booms, bubbles, and busts

Andreas Bauernhoferc, Benjamin Gartlehner, ?Markus Krivec

Chapter 2: Crisis Economists

Learning from past economists

Chapter 3: Plate Tectonics

Why the global financial system has become subprime

Andrea Essl, Sarah Reindl

Chapter 4: Things Fall Apart

The current crisis follows a familiar script

Clemens Korper, Johannes Mossböck

Chapter 5: Global Pandemics

How and why the crisis went global

Chapter 6: The Last Resort

The aftershocks of monetary reactions

Florian Kohlfürst, Nicholas Martin

Chapter 7: Spend More, Tax Less?

The aftershocks of fiscal reactions

Chapter 8: First Steps

Blueprint for a new financial architecture

Andreas Burggraf, Christian Unterberger

Chapter 9: Radical Remedies

A radical reform of the financial system

Chapter 10: Fault Lines

The serious imbalances in the global economy

Andreas Krimbacher, N.N.

Part 2

Papers

The economic crisis and the crisis of economics

General editors: Andrea Maria Essl, Sarah Reindl

How ECB monetary policy instruments have changed in the recent crisis
Clemens Korper
DOC

The role played by current account imbalances in the context of crises
Christian Unterberger
DOC

A view on public debt and fiscal policy in the Euro-zone in the current financial crisis
Benjamin Gartlehner, Andreas Krimbacher
DOC

Destabilizing effects of financial derivatives - How structured finance paved the way for the recent crisis
Johannes Mossböck
DOC

The history of deregulation and its implications for the European financial system
Andreas Burggraf
DOC

A critical analysis of bail-in policies as a solution for public and private debt crises
Florian Kohlfürst
DOC

Subprime crisis and credit ratings agencies from an European perspective
Andrea Maria Essl
DOC

The necessity for changes in econometric models to make economic crises more predictable
Herwwig Urban
DOC

Economic crisis as a white swan and the recovery paths of the European states
Andreas Bauernhofer
DOC

The involvement of Austrian banks in the financial crisis - Österreichische Volksbanken AG
Sarah Reindl
DOC

References

Books

Roubini, Nouriel and Stephen Mihm (2010).
Crisis Economics. A Crash Course in the Future of Finance.
New York: Penguin Books.

Rajan, Raghuram G. (2010).
Fault Lines. How Hidden Fractures Still Threaten the World Economy.
Princeton and Oxford: Princeton University Press.

Akerlof, George A. and Robert J. Shiller (2009).
Animal Spirits. How Human Psychology Drives the Economy, and Why it Matters for Global Capitalism.
Princeton and Oxford: Princeton University Press.

Fox, Justin (2009).
The Myths of the Rational Market. A History of Risk, Reward, and Delusion on Wall Street.
Princeton and Oxford: Princeton University Press.

Articles

Krugman, Paul (2009).
How Did Ecoomists Get It So Wrong?
The New York Times, September 6.

WebSites

Föhrenbergkreis Finanzwirtschaft

The Economist: Topic Economic Crisis

Paul Krugman

Kurt Bayer

Bernard Lietaer