2019 Student Research Conference:
32nd Annual Student Research Conference

Review of Engineering the Financial Crisis: Systemic Risk and the Failure of Regulation


Garrett L. Fiegenbaum
Dr. David Gillette, Faculty Mentor

Causes of the Financial Crisis abound, and the research surrounding them does too. Engineering the Financial Crisis: Systemic Risk and the Failure of Regulation by Friedman and Kraus explores the main candidates that receive regular blame. Capital adequacy regulation often receives less scrutiny than Freidman and Krauss provide in their criticism of the Basel Accords and related U.S. bank capital regulations.  This review of recent literature about the causes of the 2008 Financial Crisis explores where Friedman and Kraus’s explanations conform and deviate from the work of other economists. Regression analysis further explores one of the authors’ boldest claims about the major causes of the Financial Crisis.

Keywords: Great Recession, Financial Crisis, Regulation, Macroeconomics, Interest Rates, Mortgage Backed Securities, Basel Accords, Recourse Rule

Topic(s):Economics

Presentation Type: Oral Paper

Session: 310-5
Location: MC 211
Time: 2:30

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