Macro Musings with David Beckworth cover image

Ricardo Reis on the Macroeconomics of Financial Crises and the Recent Inflation Surge

Macro Musings with David Beckworth

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The Role of Shadow Banking in the 2008 Financial Crisis

David Frum's new book focuses on banking and shadow banking. He says it can help us understand what caused the financial crisis in 2008. In modern banks, you have a lot more reliance on wholesale funding, he says. That means that when asset prices fall, so do bank assets as they sell them off to fund lending.

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