This guide
suggests places to learn about the recent financial crisis. It is a work in progress; please add comments and suggestions in the box below.
Concepts Taught
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Definitions
Stimulus
Track the spending through the U.S. Government's Recovery Act website, or through Stimulus Watch, which allows citizens to vote on the effectiveness of individual projects.
Text of American Recovery and Reinvestment Act of 2009.
Credit Default Swaps
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Background
- Financial Crisis for Beginners - "Everyone should be able to understand how the financial crisis came about, what it means for all of us, and what our options are for getting out of it." Lucid explanations by Simon Johnson (MIT professor and former IMF Chief Economist) and his team.
- Podcasts from Planet Money from NPR - especially Giant Pool of Money , Another Frightening Show about the Economy, Bad Bank , and The Watchers.
- The Federal Reserve Bank of St. Louis provides The Financial Crisis: A Timeline of Events and Policy Actions, with data, reports, FAQ, etc.
- The Global Financial Crisis: Analysis and Policy Implications - report prepared for Congress by the Congressional Research Service, 10/09. Also CRS's Causes of the Financial Crisis, 1/09
- The End - Michael Lewis, author of Liar's Poker, reflects vividly on the last 20 years in the bond market, an era that "is finally, officially, over." 11/11/08
- Origins of the Financial Crisis - by economists at the Brookings Institution, 11/08
- The Financial Crisis and the Policy Responses: An Empirical Analysis of What Went Wrong by John Taylor, Stanford economist, 11/08
- The housing meltdown: why did it happen in the United States? by Luci Ellis, Bank for International Settlements, 9/08
- International Monetary Fund publications:
Recent books related to the GFC
The number of books and videos now coming out on the GFC is so large we can't list them all any longer!
To see the latest, use our catalog, and enter "global financial crisis" in the Subject box. If the item you want is checked out or on order, you can put a "hold" on it and we'll save it for you when it comes in.
More Background: Courses and Textbooks
- Econ 252 - Financial Markets - open course given at Yale by Prof. Robert Shiller - strives to offer understanding of the theory of finance and its relation to the history, strengths and imperfections of such institutions as banking, insurance, securities, futures, and other derivatives markets, and the future of these institutions over the next century.
- Khan Academy - award-winning online library of video classes covering all levels of mathematics, finance, statistics, banking and money, economics, and much more. The videos are supplemented by software that dynamically generates exercises and captures data on student usage and progress.
- Open Source textbook: Introduction to Economic Analysis by R. Preston McAfee, California Institute of Technology, 2007
Crisis Visualized
Podcasts and More from Planet Money
Loading...Bailout
a complete accounting of where the money's going, from AIG to the smallest community bank, from ProPublica
Marketplace: America's Financial Crisis
Loading...Subprime Mortgages
Research papers on subprime and default:
Subprime Mortgage Lending and the Capital Markets (a history of sub-prime before it was controversial) from the Fed. Reserve Bank of San Francisco, 12/01
Subprime Outcomes: Risky Mortgages, Homeownership Experiences, and Foreclosures, from the Federal Reserve Bank of Boston, 5/08
Understanding the Subprime Mortgage Crisisfrom the Federal Reserve Bank of St. Louis and New York University, 8/19/08
Dynamic Map of Subprime Mortgage Conditions in the US - from the New York Fed, down to zip code level
Subprime Mortgage Lending and the Capital Markets (a history of sub-prime before it was controversial) from the Fed. Reserve Bank of San Francisco, 12/01
Subprime Outcomes: Risky Mortgages, Homeownership Experiences, and Foreclosures, from the Federal Reserve Bank of Boston, 5/08
Understanding the Subprime Mortgage Crisisfrom the Federal Reserve Bank of St. Louis and New York University, 8/19/08
Dynamic Map of Subprime Mortgage Conditions in the US - from the New York Fed, down to zip code level
Or Play the Game!
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