The Financial Crisis: Lessons for International Macroeconomics

Journal article: This article introduces a special section of the American Economic Journal: Macroeconomics, containing five papers presented during a conference in Paris in October 2011. The aim of the conference was to derive lessons from the financial crisis, for research on international macroeconomics and for policy. The article opens with a summary of the key mechanisms at play during the crisis. The question of the crisis transmission across borders is addressed, with a focus on international trade and financial institutions. Recent advances in the analysis of sovereign default risk are also discussed. The article concludes with a discussion of policy responses to the crisis.

Author(s)

Matthieu Bussière, Jean Imbs, Robert Kollmann, Romain Rancière

Journal
  • American Economic Journal: Macroeconomics
Date of publication
  • 2013
Keywords JEL
E32 E44 F14 G01 G21 G28
Pages
  • 75-84
Version
  • 1
Volume
  • 5