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The International Financial Crisis Viewed by Experts

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  • Antonio Forte
  • Giovanni Pesce

Abstract

The occurrence of the international financial crisis and the spread out of its effects on the global economy prompted experts around the world to think about how to manage the crisis and which measures to implement in order to restore normal economic and financial conditions. In this paper, we present and discuss the results of an international expert survey. We use these experts’ perceptions to pursue a twofold target to understand their perceptions about the causes of the crisis, and of the policies to solve it. Interestingly, experts seem to broadly concur on what caused the crisis but their perceptions diverge regarding the policies. Furthermore, substantial differences in perceptions emerge between the Euro Area and the United States. We also find that the Federal Reserve and the European Central Bank monetary policies during the crisis are judged barely adequate. Finally, different views distinguish academicians from other experts.

Suggested Citation

  • Antonio Forte & Giovanni Pesce, 2009. "The International Financial Crisis Viewed by Experts," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 38(1‐2), pages 67-95, February.
    • Handle: RePEc:bla:ecnote:v:38:y:2009:i:1-2:p:67-95
    DOI: 10.1111/j.1468-0300.2009.00210.x
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