Credit-financed markets are inherently unstable. Inevitably, the pattern of payment promises doesn't align with actual ability to pay. What happens then depends on institutions, regulations and management. Today, the credit system is global, and so also is the prospect of financial instability.
The webinar will contain two young scholar presentations by Isabel Rodríguez Peña and Dirk Ehnts. Hans-Michael Trautwein and Marc Lavoie will discuss the papers followed by a general discussion. Read more