This paper examines the explanation of the "subprime" crisis provided by Bernanke according to which the origin of the housing bubble stemmed from the global saving glut that occurred in the decade 1996-2006. The paper has two objectives. First, it highlights the limits of Bernanke's thesis....

The relation between uncertainty and money is the central point of the keynesian monetary theory. In general the keynesian economists consider uncertainty as the exogenous variable starting from which the functions of money can be defined. The presence of uncertainty justifies the store of...