Macro Lit Review 3: Highlights from Early 2023 with George Selgin
Macro Musings with David Beckworth
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Is There Much Need for the Panic Hypothesis?
In 2008 and 2007, he's arguing that the runs we saw on institutional money funds were driven by the realities of the health of these institutions. So it was more of a solvency thing. People were looking at the books. Can't you have both, I guess, both a panic and fact-based run? Sure, you can. But one of the other things Norbert does in the book is to point out how the response to the money market crisis has actually had a very deleterious effects.
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