IDEAS home Printed from https://ideas.repec.org/a/spr/intere/v48y2013i2p106-115.html
   My bibliography  Save this article

What can sector accounts tell about the financial crisis?

Author

Listed:
  • Gunther Tichy

Abstract

The current sovereign debt crisis is widely believed to have been caused by insufficient budget discipline. However, the financial sector accounts reveal that public as well as private borrowing in the euro area was dwarfed by the synchronised explosion of assets and liabilities of financial corporations. The paper suggests that the current concentration on a speedy cutback of public debt is premature at best. Policy should pay more attention to the main causes of the crisis: the excesses of the financial sector and the flaws in the design of the heterogeneous currency union. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2013

Suggested Citation

  • Gunther Tichy, 2013. "What can sector accounts tell about the financial crisis?," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 48(2), pages 106-115, March.
    • Handle: RePEc:spr:intere:v:48:y:2013:i:2:p:106-115
    DOI: 10.1007/s10272-013-0451-1
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s10272-013-0451-1
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s10272-013-0451-1?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Tomas Ramanauskas & Skirmante Matkenaite & Virgilijus Rutkauskas, 2018. "Credit and money creation from the integrated accounts perspective," Bank of Lithuania Discussion Paper Series 5, Bank of Lithuania.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:intere:v:48:y:2013:i:2:p:106-115. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.