Titolo:
Some thoughts on the macroeconomics of the global financial and economic crisisPeriodico:
Ministero dell'Economia e delle Finanze. Dipartimento del Tesoro. Note tematicheAnno:
2010 - Volume:
7 - Fascicolo:
4 - Pagina iniziale:
1 - Pagina finale:
13The recent 2008-09 crisis has been analyzed from different
perspectives. Some authors pointed out the role of microeconomic
factors while others concentrated on international and policy issues.
This note examines the causes and consequences of the crisis from a
broad macroeconomic perspective, which potentially encompasses
alternative explanations. It proposes the conjecture that widespread
increase in the attitude to take risks was at the roots of most of the
events. It also considers indicators and forecasts, to detect some early
signals of structural changes both for advanced and emerging
countries. Finally, it gives some caveats regarding the economic
policy response adopted in reaction to the crisis.
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