Financial Crises: Revisited & Predictable

This lecture delves into financial crises worldwide, focusing on banking crises and their frequency over time. It explores the typical responses to banking crises, the costs involved, and the coincidence with other crises. The presentation also covers the aftermath of financial crises, the predictability of such events, and the impact on politics. The discussion extends to the role of credit rating agencies, structured finance, and the factors that contributed to the 2007-2008 financial crisis. The lecture concludes with an analysis of the interventions that ended the crisis and the changes in mortgage lending standards and house prices since then.