scholarly journals Introduction: A Decade of Indignation

boundary 2 ◽  
2021 ◽  
Vol 48 (3) ◽  
pp. 1-6
Author(s):  
Bécquer Seguín
Keyword(s):  
Financial Crisis ◽  
Political Theory ◽  
Intellectual History ◽  
Social Theory ◽  
Great Recession ◽  
Global Financial Crisis ◽  
Film Studies ◽  
Political Life ◽  
Special Issue ◽  
The Great Recession

This introduction briefly provides the context of the Great Recession in Spain, which spurred one of the largest protests movements in the country's history. Known locally as the 15M and internationally as the indignados movement, the occupation of plazas in the spring and summer of 2011 jump-started a broader cultural, intellectual, and political shift in Spain that is only beginning to be appreciated by scholarship in literary and cultural studies. This introduction then briefly introduces the contributions to this special issue, which are organized into various clusters that cut across literary studies, intellectual history, social theory, political theory, film studies, social movements, and feminism, among other fields. The issue serves simultaneously as a primer on and a contribution to our understanding of how the 2008 global financial crisis has impacted social, intellectual, and political life in Spain.

Banking in Australia and New Zealand—Geographic Proximity, Market Concentration, and Banking Integration

2019 ◽  
pp. 1189-1213
Author(s):  
Fariborz Moshirian ◽  
Eliza Wu
Keyword(s):  
New Zealand ◽  
Financial Crisis ◽  
Great Recession ◽  
Global Financial Crisis ◽  
Banking Industry ◽  
Banking System ◽  
Geographic Proximity ◽  
The Great Recession ◽  
The Past ◽  
Global Banks

This chapter focuses on the Australian and New Zealand (NZ) banking industry. Australian and New Zealand banks have undergone significant growth and challenges in the past decade. Australian banks weathered the Great Recession from 2008 and still recorded strong profits and minimal losses while other global banks failed internationally. To understand why this might be, we examine the composition of the closely integrated banking sectors in Australia and NZ, their respective performance, capital levels, and some defining regulatory reforms that have particularly shaped the Australian banking system since the 2008 Global Financial Crisis.

scholarly journals What Happened: Financial Factors in the Great Recession

2018 ◽  
Vol 32 (3) ◽  
pp. 3-30 ◽  
Author(s):  
Mark Gertler ◽  
Simon Gilchrist
Keyword(s):  
Financial Crisis ◽  
Great Recession ◽  
Financial Distress ◽  
Global Financial Crisis ◽  
Balance Sheet ◽  
House Price ◽  
Empirical Work ◽  
Common Finding ◽  
The Great Recession ◽  
New Research

At the onset of the recent global financial crisis, the workhorse macroeconomic models assumed frictionless financial markets. These frameworks were thus not able to anticipate the crisis, nor to analyze how the disruption of credit markets changed what initially appeared like a mild downturn into the Great Recession. Since that time, an explosion of both theoretical and empirical research has investigated how the financial crisis emerged and how it was transmitted to the real sector. The goal of this paper is to describe what we have learned from this new research and how it can be used to understand what happened during the Great Recession. In the process, we also present some new empirical work. We argue that a complete description of the Great Recession must take account of the financial distress facing both households and banks and, as the crisis unfolded, nonfinancial firms as well. Exploiting both panel data and time series methods, we analyze the contribution of the house price decline, versus the banking distress indicator, to the overall decline in employment during the Great Recession. We confirm a common finding in the literature that the household balance sheet channel is important for regional variation in employment. However, we also find that the disruption in banking was central to the overall employment contraction.

scholarly journals A Study of Global Recession Recovery Strategies in Highly Ranked GDP EU Countries

ECONOMICS ◽  
2021 ◽  
Vol 9 (1) ◽  
pp. 85-105
Author(s):  
Mythili Kolluru ◽  
Denis Hyams-Ssekasi ◽  
K.V.Ch.Madhu Sudhana Rao
Keyword(s):  
Financial Crisis ◽  
Great Recession ◽  
Global Financial Crisis ◽  
Developmental Model ◽  
Eu Countries ◽  
The Great Recession ◽  
Global Recession ◽  
Recovery Strategies ◽  
The World ◽  
The Global Financial Crisis

Abstract The Global financial crisis of 2008-2009 severely impacted the developed economies of the world. It occurred at a time when most countries had started gaining economic growth, stability, and vibrance. Each country experienced a jolt to its economy, causing financial fragility, shocks, tragedy, and struggle. Attempts have been made to understand the root causes, economic instability, and the lessons learned from the great recession. Given the current situation of the COVID-19 pandemic, this research paper seeks to examine the global recession, its effect on the economy and finances. Our research is based on the qualitative analysis of comparing the impact of the global financial crisis and strategic recovery recession plans of the top five GDP countries in the European Union-particularly Germany, the UK, France, Spain, and Italy to draw some similarities between a recession and COVID-19 pandemic in terms of the economy. The findings indicate that the great recession had a devastating impact on the entire economy, and the world can learn valuable lessons. It notes that out of the selected five EU countries, Germany was the first to recover and bounce back by 2011, but Italy and Spain were severely hit and took longer to recover only partially. The recession recovery strategies demonstrate some similarities in economic and employment measures and differences concerning tax reforms and financial support packages initiated by all five countries. There needs to be a mechanism in which each country must prepare for untimely recessions. Thus, a developmental model has been created to enable countries to be more prepared when faced with recessions in the future years.

Ambiguity, Equivocation, and Economics

2020 ◽  
pp. 9-12
Author(s):  
Kaushik Basu
Keyword(s):  
Financial Crisis ◽  
Great Recession ◽  
Global Financial Crisis ◽  
Philosophical Approach ◽  
The Great Recession ◽  
The World ◽  
The Global Financial Crisis ◽  
Policy Failures

This brief chapter, written in the backdrop of the global financial crisis and the start of the Great Recession, lays out a broad philosophical approach to dealing with policy failures and the need for economists as a profession to introspect. It emphasizes the need for scepticism, in all our contemplation about the world, a philosophical approach that underlies a lot of what follow in this book.

scholarly journals Transnational representation of a gendered recession in corporate dramas

2020 ◽  
pp. 136754942091986
Author(s):  
Elena Oliete-Aldea
Keyword(s):  
Financial Crisis ◽  
Great Recession ◽  
Global Financial Crisis ◽  
Female Characters ◽  
Wall Street ◽  
The Great Recession ◽  
Lehman Brothers ◽  
The One ◽  
The Global Financial Crisis ◽  
Special Relevance

The cinematic depiction of the financial crisis has centred on the explanation of the causes and consequences of the global recessionary scenario in which gender acquires special relevance. My aim in this article is to carry out a hitherto unaddressed transnational analysis of corporate dramas. More specifically, I elicit the commonalities as well as local specificities that different Western cinematographies show when tackling gendered recessionary discourses on ‘mancession’ and ‘austerity’. Films such as The Last Days of Lehman Brothers (Samuels, 2009, BBC), Money Never Sleeps (Stone, 2010), The Company Men (J. Wells, 2010) and The Big Short (McKay, 2015) have, on the one hand, aligned with nostalgic and retro-sexist discourses by focusing on male suffering to confront the recession while relegating female characters as emotional companions of the male hero. On the other hand, the representation of female characters in these films has also put to the test the inconsistencies of neoliberal discourses when analysed from the perspective of genre. To illustrate the transnational dimension of the ‘narrated’ impact of the ‘Global Financial Crisis’ in different scenarios, I compare a US Wall Street film and a Spanish corporate drama of the Great Recession: Margin Call (J Chandor, 2011, USA) and The Tip of the Iceberg (La punta del iceberg, D Cánovas, 2016, Spain).

The much-exaggerated death of Keynesian economics

2020 ◽  
Vol 8 (1) ◽  
pp. 36-45
Author(s):  
Robert W. Dimand
Keyword(s):  
Financial Crisis ◽  
General Theory ◽  
Great Recession ◽  
Global Financial Crisis ◽  
The Great Recession ◽  
Keynesian Economics ◽  
Economic Instability ◽  
Price Flexibility ◽  
Fundamental Uncertainty ◽  
The Global Financial Crisis

The supposed death of Keynesian economics has long been debated. This paper revisits the four central Keynesian propositions identified by Tobin's 1977 paper, ‘How dead is Keynes?’, to argue, in the light of the global financial crisis and the Great Recession, that Keynesian economics remains alive and relevant as useful economics for understanding the economy in a world of fundamental uncertainty, with particular reference to chapter 19 of Keynes's General Theory concerning economic instability and wage and price flexibility.

scholarly journals A Critical Analysis of the Macroeconomic Policies in Brazil from Lula da Silva to Dilma Rousseff (2003-2014)

2015 ◽  
Vol 1 (2) ◽  
pp. 218-227
Author(s):  
Luiz Fernando De Paula ◽  
Fernando Ferrari
Keyword(s):  
Financial Crisis ◽  
Great Recession ◽  
Critical Analysis ◽  
Global Financial Crisis ◽  
Macroeconomic Policies ◽  
Short Article ◽  
Main Hypothesis ◽  
The Great Recession ◽  
Economic Framework ◽  
The Global Financial Crisis

In this short article, we aim at presenting a critical analysis of the macroeconomic policies implemented by the Lula da Silva and Dilma Rousseff governments in Brazil. The main hypothesis is that the economic framework of the ‘leftist’ governments has been managed pragmatically, mainly due to the global financial crisis (GFC) and the Great Recession (GR), and is still conservative, and cannot be considered as genuine Keynesian policies.

scholarly journals The Crisis in Economic Theory: A Review Essay

2016 ◽  
Vol 54 (4) ◽  
pp. 1350-1361 ◽  
Author(s):  
Kevin D. Hoover
Keyword(s):  
Economic Theory ◽  
Financial Crisis ◽  
Social Theory ◽  
Great Recession ◽  
Review Essay ◽  
The Great Recession

The Great Recession and the financial crisis of 2007–09 prompted calls for fundamental reforms of economic theory. The role of theory in economics and in recent economic events is considered in light of two recent books: the sociologist Richard Swedberg's The Art of Social Theory and the economist André Orléan's The Empire of Value: A New Foundation for Economics. (JEL A11, B40, Z13)

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