Authors:

  • Kenneth Rogoff

Excerpt

International Aspects of Financial-Market Imperfections: The Aftermath of Financial Crises. Kenneth Rogoff, 2009, Paper. "A year ago, we presented a historical analysis comparing the run-up to the 2007 US subprime financial crisis with the antecedents of other banking crises in advanced economies since World War II (Reinhart and Rogoff 2008a). We showed that standard indicators for the United States, such as asset price inflation, rising leverage, large sustained current account deficits, and a slowing trajectory of economic growth, exhibited virtually all the signs of a country on the verge of a financial crisis..." Link