Franklin

Measuring Wealth and Financial Intermediation and Their Links to the Real Economy / Marshall B. Reinsdorf, Charles R. Hulten.

Publication:
Chicago : University of Chicago Press, [2015]
Format/Description:
Book
1 online resource (392 pages) : 28 halftones, 45 line drawings, 81 tables
Series:
National Bureau of Economic Research Studies in Income and Wealth ; 73
Contained In:
De Gruyter University Press Library.
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Language:
In English.
System Details:
Mode of access: Internet via World Wide Web.
text file PDF
Summary:
More than half a decade has passed since the bursting of the housing bubble and the collapse of Lehman Brothers. In retrospect, what is surprising is that these events and their consequences came as such a surprise. What was it that prevented most of the world from recognizing the impending crisis and, looking ahead, what needs to be done to prevent something similar? Measuring Wealth and Financial Intermediation and Their Links to the Real Economy identifies measurement problems associated with the financial crisis and improvements in measurement that may prevent future crises, taking account of the dynamism of the financial marketplace in which measures that once worked well become misleading. In addition to advances in measuring financial activity, the contributors also investigate the effects of the crisis on households and nonfinancial businesses. They show that households' experiences varied greatly and some even experienced gains in wealth, while nonfinancial businesses' lack of access to credit in the recession may have been a more important factor than the effects of policies stimulating demand.
Contents:
Frontmatter
Contents
Prefatory Note
Introduction / Hulten, Charles R. / Reinsdorf, Marshall B.
I. Advancing Economic and Financial Measurement Practice: Lessons from the Financial Crisis
1. Integrating the Economic Accounts: Lessons from the Crisis / Bosworth, Barry
2. Financial Statistics for the United States and the Crisis: What Did They Get Right, What Did They Miss, and How Could They Change? / Eichner, Matthew J. / Kohn, Donald L. / Palumbo, Michael G.
3. Durable Financial Regulation: Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions / Nakamura, Leonard
4. Shadow Banking and the Funding of the Nonfinancial Sector / Gallin, Joshua
5. Financial Intermediation in the National Accounts: Asset Valuation, Intermediation, and Tobin's q / Corrado, Carol A. / Hulten, Charles R.
II. Advances in Measuring Wealth and Financial Flows
6. Adding Actuarial Estimates of Defined- Benefit Pension Plans to National Accounts / Durant, Dominique / Lenze, David / Reinsdorf, Marshall B.
7. The Return on US Direct Investment at Home and Abroad / Curcuru, Stephanie E. / Thomas, Charles P.
8. US International Financial Flows and the US Net Investment Position: New Perspectives Arising from New International Standards / Gohrband, Christopher A. / Howell, Kristy L.
III. How Did the Financial Crisis Affect Households and Businesses?
9. Household Debt and Saving during the 2007 Recession / Chakrabarti / Lee, Donghoon / Klaauw, Wilbert van der / Zafar, Basit
10. Drowning or Weathering the Storm? Changes in Family Finances from 2007 to 2009 / Bricker, Jesse / Bucks, Brian / Kennickell, Arthur / Mach, Traci / Moore, Kevin
11. The Misfortune of Nonfinancial Firms in a Financial Crisis: Disentangling Finance and Demand Shocks / Tong, Hui / Wei, Shang- Jin
Contributors
Author Index
Subject Index
Notes:
Description based on online resource; title from PDF title page (publisher's Web site, viewed 22. Okt 2019)
Contributor:
Hulten, Charles R., editor.
Reinsdorf, Marshall B., editor.
De Gruyter.
ISBN:
9780226204437
OCLC:
896908226
Publisher Number:
10.7208/9780226204437 doi
Access Restriction:
Restricted for use by site license.