With the same powerful evidence and range of reference as his global bestseller "Capital In The Twenty-First Century", this sets out Thomas Piketty's analysis of the financial crisis, what has happened since and where we should go from here.

With the same powerful evidence and range of reference as his global bestseller "Capital In The Twenty-First Century", this sets out Thomas Piketty's analysis of the financial crisis, what has happened since and where we should go from here.

This paper reviews recent developments in macro and finance on the relationship between financial risk and the real economy. We focus on three specific topics: the term structure of uncertainty, time variation - and specifically the long-term decline - in the variance risk premium, and time...

Over the past two decades, banks have increasingly focused on offering contingent credit in the form of credit lines as a primary means of corporate borrowing. We review the existing body of research regarding the rationales for banks' provision of liquidity insurance in the form of credit...

This paper presents a unified framework to explain three major economic downturns: the U.S. Great Depression, the U.S. Great Recession, and Japan's Long Recession. Temporary economic disruptions, such as banking crises and excessive debt accumulation, can drive natural interest rates into...