Phillip Swagel on the Financial Crisis
Submitted by Econbrowser
I’m behind the curve on recommending Phillip Swagel’s BPEA paper on the Administration’s response to the financial crisis. But today he talked to the students in my macro course, and his presentation just reinforced my view that his account is one that everbody should read.
Here’s a picture showing the evolution of the one-month Libor-OIS spread.
Figure 2: from P. Swagel, “The Financial Crisis: An Inside View,” paper presented at Brookings Panel on Economic Activity, March 2009.Other commentary on the paper: [0], [1], [2], [3].
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