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It’s difficult to state weather the global financial crisis that started after the fall of Lehman Brothers in 2008 is over or has just entered a new phase. The crisis has spilled over the international markets from the US financial system to financial systems in Europe and beyond. The hectic anti-crisis measures taken to save the financial system resulted in high costs for taxpayers and many lessons have to be learned to not only how to reduce the probability of the next crisis, but also how to effectively apply crisis-management measures. Yet, this at the same time opens many new research fields, worthy of scientific exploration and the need to produce practical policy implications. Read more...
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