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The financial crisis: What is there to learn?

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  • Kowalski, Tadeusz
  • Shachmurove, Yochanan

Abstract

Many are currently studying the origins of the financial crisis in an attempt to answer two seemingly simple questions: why did it happen, and can another crisis be prevented? Those two questions have proved incredibly divisive. The majority opinion of The United States Financial Crisis Inquiry Commission was submitted with two dissenting positions. Furthermore, The 2010 Economic Report of the United States President does not perfectly align with any opinion presented in that report. Few studies, however, provide proper consideration to the evolution of macroeconomic thought and lengthening of the business cycle preceding the current crisis.

Suggested Citation

  • Kowalski, Tadeusz & Shachmurove, Yochanan, 2011. "The financial crisis: What is there to learn?," Global Finance Journal, Elsevier, vol. 22(3), pages 238-247.
    • Handle: RePEc:eee:glofin:v:22:y:2011:i:3:p:238-247
    DOI: 10.1016/j.gfj.2011.10.014
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    Cited by:

    1. Mitchell Kellman & Mitchell Yochanan Shachmurove, 2012. "Trade Sophistication in a Transition Economy: Poland 1980–2009," Working Papers 64, Department of Applied Econometrics, Warsaw School of Economics.
    2. repec:sgm:pzwzuw:v:1:i:1:y:2013:p:12-22 is not listed on IDEAS
    3. Kowalski, Tadeusz, 2013. "Globalization and Transformation in Central European Countries: The Case of Poland," MPRA Paper 59306, University Library of Munich, Germany.
    4. Reddy, Kotapati Srinivasa, 2015. "The impact of the global financial crisis on border-crossing mergers and acquisitions: A continental/industry analysis," MPRA Paper 63563, University Library of Munich, Germany, revised 2015.
    5. Krivogorsky, Victoria & Joh, Gun-Ho & DeBoskey, D.G., 2018. "The influence of supply side factors on firm's borrowing decisions: European evidence," Global Finance Journal, Elsevier, vol. 35(C), pages 202-222.
    6. Narendar Rao & K. Reddy, 2015. "The impact of the global financial crisis on cross-border mergers and acquisitions: a continental and industry analysis," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 5(2), pages 309-341, December.
    7. Zaman, Qamar Uz & Hassan, M. Kabir & Akhter, Waheed & Meraj, M.A., 2018. "From interest tax shield to dividend tax shield: A corporate financing policy for equitable and sustainable wealth creation," Pacific-Basin Finance Journal, Elsevier, vol. 52(C), pages 144-162.
    8. Irfan Akbar Kazi & Mohamed Mehanaoui & Farhan Akbar, 2014. "The shift-contagion effect of global financial crisis and the European debt crisis on OECD Countries," Working Papers 2014-128, Department of Research, Ipag Business School.
    9. Wieslaw Danielak, 2013. "Zmiany w sferze konsumpcji w wybranych krajach europejskich a kryzys gospodarczy. (Changes in consumption in selected European countries and economic crisis.)," Problemy Zarzadzania, University of Warsaw, Faculty of Management, vol. 11(40), pages 12-22.
    10. Kowalski, Tadeusz & Shachmurove, Yochanan, 2014. "The reaction of the U.S. and the European Monetary Union to recent global financial crises," Global Finance Journal, Elsevier, vol. 25(1), pages 27-47.
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    More about this item

    Keywords

    Financial crises; Keynesian theory; Adaptive expectations; Rational expectations; Monetary and fiscal policies; Regulations; United States; China; Euro;
    All these keywords.

    JEL classification:

    • B0 - Schools of Economic Thought and Methodology - - General
    • E0 - Macroeconomics and Monetary Economics - - General
    • F0 - International Economics - - General
    • G0 - Financial Economics - - General
    • H0 - Public Economics - - General
    • O0 - Economic Development, Innovation, Technological Change, and Growth - - General

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