Category Archives: Debt Crisis

The COVID-19 Pandemic and the Global Debt Epidemic

By | April 20, 2020

Courtesy of Chris Smith and Sangita Gazi  A decade after Lehman Brothers collapsed, the Federal Reserve Bank of St. Louis reviewed the economics literature and concluded that “one of the main reasons why the subsequent recession was ‘great’ was due to high levels of leverage and debt.” On the eve of the 2008 financial crisis,… Read More »

Surviving the Perfect Storm: Exports, Fiscal Austerity, and Firm Heterogeneity

By | January 7, 2020

Courtesy of Manuel Adelino, Paulo Fagandini, Miguel Ferreira, and Francisco Queiro How do economically depressed areas recover following a recession? Our recent paper uses the 2010–2011 European sovereign debt crisis and a Euro area periphery country as a laboratory to answer this question. The 2010–2011 European sovereign debt crisis led to a severe recession in… Read More »