This topic covers credit and banking issues. I've decided to change the contents a bit from the course description, and leave out the 'depression economics' for later topic where it is more appropriate. Our focus will be mainly on 2 theoretical models, i.e. Bernanke and Blinder (1988: AER) and Diamond and Dybvig (1983: JPE), with an eye on the current subprime crisis as a 'case study'. Specific comments about the reading will be made in class.
The reading pack along with the lecture note is available here.
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