Synopsis: |
Brookings Papers on Economic Activity (BPEA) provides academic and business economists, government officials, and members of the financial and business communities with timely research on current economic issues.Contents: Editors' SummaryFinancial Crash, Commodity Prices, and Global Imbalances, By Ricardo J. Caballero, Emmanuel Farhi, and Pierre-Olivier GourinchasMaking Sense of the Subprime Crisis, By Kristopher Gerardi, Andreas Lehnert, Shane M. Sherlund, and Paul WillenThe Central Role of Home Prices in the Current Financial Crisis: How Will the Market Clear? By Karl E. CaseBeyond Leveraged Losses: The Balance Sheet Effects of the Home Price Downturn, By Jan HatziusFinancial Regulation in a System Context, By Stephen Morris and Hyun Song ShinThe Unofficial Economy and Economic Development, By Rafael La Porta and Andrei ShleiferThe Real Exchange Rate and Economic Growth, By Dani Rodrik |