Professor Alan Taylor Speaks at Nobel Symposium on Money and Banking
10 years on, the Great Recession remains an unsolved mystery in macroeconomics, says Taylor
Professor Alan Taylor spoke on the “Indebtedness of governments, firms, and households” at the Nobel Symposium on Money and Banking, hosted by the Swedish House of Finance on May 26-28, 2018.
“It would be a great benefit of mankind if we could reach a better understanding of these costly events and avoid or mitigate the disasters in the future,” he says of the recession that began in 2008.
“Understanding how and why private debt crises predictably occur with consistent patterns and grave collateral damage is to my mind the big unsolved research question today in macro(economics).”