Revisiting the 2008 Financial Crisis

A Workshop Series on the 2008 Financial Crisis: The Causes, The Panic, The Recession, The Lessons


Market and policy antecedents and repercussions of the 2008 Financial Crisis and the Great Recession began long before and lasted long after the Lehman bankruptcy in September 2018. This series of presentations and discussions held during the fall of 2018 aims to delve into the causes, but also to examine the actions and interventions taken during the panic and the recession, and to draw policy lessons for the future. Each part of the series includes a transcript, two short paper presentations, comments and related research.

An overview session included a transcript and a video of a panel discussion on the whole series with questions and answers.

E.g., 9 / 18 / 2019
E.g., 9 / 18 / 2019
Friday, December 7, 2018

The 2008 Financial Crisis: Lessons

Transcript

by John B. Taylor Friday, December 21, 2018
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Papers And Presentations

by John H. Cochrane Friday, December 7, 2018
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by Darrell Duffie Friday, December 7, 2018
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Friday, December 7, 2018

The 2008 Financial Crisis: Recession

Transcript

by John B. Taylor Friday, December 21, 2018
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Papers And Presentations

by Caroline M. Hoxby Friday, December 7, 2018
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by John B. Taylor Friday, December 7, 2018
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Comments and Related Research

by John H. Cochrane Friday, December 7, 2018
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by Michael J. Boskin Friday, December 7, 2018
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Friday, November 9, 2018

The 2008 Financial Crisis: Panic

Transcript

by John B. Taylor Thursday, November 15, 2018
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Papers And Presentations

by Niall Ferguson Friday, November 9, 2018
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by George P. Shultz Friday, November 9, 2018
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Comments and Related Research

by George P. Shultz Friday, October 19, 2018
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by George P. Shultz Friday, November 9, 2018
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Friday, October 19, 2018

The 2008 Financial Crisis: Causes

Transcript

by John B. Taylor Thursday, November 1, 2018
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Papers And Presentations

by John B. Taylor Friday, October 19, 2018
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by Monika Piazzesi Friday, October 19, 2018
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Comments and Related Research

by Raghuram Rajan Friday, October 19, 2018
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Transcript

Revisiting the 2008 Financial Crisis: The Lessons (Transcript)

by John B. Taylorvia Revisiting the 2008 Financial Crisis
Friday, December 21, 2018

The transcript of the session “Workshop Series on the 2008 Financial Crisis: The Lessons,” at the Hoover Institution, Stanford University on December 7, 2018. Chaired by John Taylor with opening presentations by Darrell Duffie and John Cochrane, followed by a general group discussion.

Transcript

Revisiting the 2008 Financial Crisis: The Recession (Transcript)

by John B. Taylorvia Revisiting the 2008 Financial Crisis
Friday, December 21, 2018

The transcript of the session “Workshop Series on the 2008 Financial Crisis: The Panic,” at the Hoover Institution, Stanford University on December 7, 2018. Chaired by John Taylor with opening presentations by Caroline Hoxby, John Taylor, John Cochrane, and Bob Hall, followed by a general group discussion.

Papers And Presentations

Lessons From The Crisis

by Darrell Duffievia Revisiting the 2008 Financial Crisis
Friday, December 7, 2018

In the years leading up to the financial crisis that began in 2007, the core of the financial system was vulnerable to major shocks emanating from any of a variety of sources. This presentation reviews the lessons from the crisis.

Comments and Related Research

QE and ZLB: Decisive Experiments for Monetary Economics

by John H. Cochranevia Revisiting the 2008 Financial Crisis
Friday, December 7, 2018

Quantitative Easing (QE) = Large Scale Asset Purchases, issue reserves. But, does QE “Work?” And to what end?

Papers And Presentations

Labor Market Adjustment

by Caroline M. Hoxbyvia Revisiting the 2008 Financial Crisis
Friday, December 7, 2018

Today, there is suggestive evidence that policies during the recession failed to promote labor market adjustment, leading to permanently lower worker hours.

Comments and Related Research

Comments at the Session on the Recession

by Michael J. Boskinvia Revisiting the 2008 Financial Crisis
Friday, December 7, 2018

The general point is that there is much complementary evidence/analysis to the specific studies and uses of a macromodel mentioned by Taylor, so the conclusions should not be deemed exclusively dependent on that model.

Papers And Presentations

Fiscal Stimulus Programs During the Great Recession

by John B. Taylorvia Revisiting the 2008 Financial Crisis
Friday, December 7, 2018

Remarks prepared for the “Recession” Session at the “Workshop Series on the 2008 Financial Crisis: Causes, The Panic, The Recession, Lessons”

Papers And Presentations

10 years later, any safer?

by John H. Cochranevia Revisiting the 2008 Financial Crisis
Friday, December 7, 2018

It has been 10 years since the financial crisis of 2008. Is the financial system safer?

Though officials, policy analysts and economists don’t agree on much, they broadly agree that the large banks are somewhat safer than they were in 2008. And the primary reason is is simple: more capital.

Transcript

Revisiting the 2008 Financial Crisis: The Panic (Transcript)

by John B. Taylorvia Revisiting the 2008 Financial Crisis
Thursday, November 15, 2018

The transcript of the session “Workshop Series on the 2008 Financial Crisis: The Panic,” at the Hoover Institution, Stanford University on November 9, 2018. Chaired by John Cochrane with opening presentations by George P. Shultz and Niall Ferguson, followed by a general group discussion.

Comments and Related Research

Make Failure Tolerable

by George P. Shultzvia Revisiting the 2008 Financial Crisis
Friday, November 9, 2018
An excerpt from Ending Government Bailouts As We Know Them, Kenneth E. Scott, George P. Shultz, John B. Taylor (Eds.) Hoover Institution Press, 2009

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