Special Issue on the Financial Crisis

Vol. 21, nos. 2-3, a special issue on the financial crisis, has now been published in book form by the University of Pennsylvania Press with a new introduction and an Afterword by Richard A. Posner. The book, What Caused the Financial Crisis, is available in bookstores and on Amazon as well as from the University of Pennsylvania Press website.

CONTENTS OF WHAT CAUSED THE FINANCIAL CRISIS (click here for abstracts):

Introduction
1. Jeffrey Friedman: Capitalism and the Crisis: Bankers, Bonuses, Ideology, and Ignorance

Part I. The Crisis in Historical Perspective
2. Amar Bhidé: An Accident Waiting to Happen: Securities Regulation and Financial Deregulation
3. Steven Gjerstad and Vernon L. Smith: Monetary Policy, Credit Extension, and Housing Bubbles: 2008 and 1929

Part II. What Went Wrong (and What Didn't)?
4. Joseph E. Stiglitz: The Anatomy of a Murder: Who Killed the American Economy?
5. John B. Taylor: Monetary Policy, Economic Policy, and the Financial Crisis: An Empirical Analysis of What Went Wrong
6. Peter J. Wallison: Housing Initiatives and Other Policy Factors
7. Viral V. Acharya and Matthew Richardson: How Securitization Concentrated Risk in the Financial Sector
8. Juliusz Jablecki and Mateusz Machaj: A Regulated Meltdown: The Basel Rules and Banks' Leverage
9. Lawrence J. White: The Credit Rating Agencies and the Subprime Debacle
10. Peter J. Wallison: Credit Default Swaps Did Not Do It

Part III. Economists, Economics, and the Financial Crisis
11. Daron Acemoglu: The Crisis of 2008: Lessons for and from Economics
12. David Colander, Michael Goldberg, Armin Haas, Katarina Juselius, Alan Kirman, Thomas Lux, and Brigitte Sloth: Why the Economists Got It Wrong

Afterword
Richard A. Posner: Afterword: The Causes of the Financial Crisis