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- Learning from and responding to financial crisis: guest lecture by Lawrence Summers: part 1 [Financial markets]
- Shiller, Robert J.
- Educação Superior::Ciências Sociais Aplicadas::Economia
- Presents part of course, Financial markets , when Professor Summers, former U. S. Treasury Secretary and former President of Harvard University, in this the first of two lectures in honor of former Yale Professor and Council of Economic Advisors chairman Arthur Okun, offers thoughts on the role of monetary policy in economic fluctuations, past and present. Shows the "Okun period," ending about when Okun died in 1980, the monetary authorities were very much involved in actually creating economic contractions. Inflation would repeatedly get out of control, the Fed would hit the brakes, and the economy would slow. Summers argues that to understand the financial markets and the economy, we must consider models of multiple equilibria, such as bank run models, where a change in confidence may shift the economy drastically without any change in fundamentals
- Yale University, Open Yale Courses
- Educação Superior::Ciências Sociais Aplicadas::Economia::Teoria Monetária e Financeira
- Economic cycle
- Financial system
- To study thoughts on the role of monetary policy in economic fluctuations, past and present
- Duration: 1 h, 30 min, 49 s. To hear this resource its necessary the instalation of Quick time. Available at: <http://www.apple.com/pt/quicktime/>
- Yale University 2009. Some rights reserved. Unless otherwise indicated in the applicable Credits section of certain lecture pages, all content on this web site is licensed under a Creative Commons License. Please refer to the Credits section to determine whether third-party restrictions on the use of content apply
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