French, S., Leyshon, A., & Thrift, N. (2009). A very geographical crisis: the making and breaking of the 2007-2008 financial crisis. Cambridge Journal of Regions, Economy and Society, 2(2), 287-302.
The objective of this research paper was to find the geographical origin of the 2007-2008 crisis and the method used was an in-depth analysis of four geographical indicators: the financial centers, the global geo-economics, the financial media and the geographies of money. This study puts the financial crisis into a global perspective and offers a bigger picture of the main financial institutions and powers which existed worldwide at the time. It does not follow the standard format of quantitative studies; however it sheds light into the happening prior to the crisis.
Brunnermeier, M.K. (2009). Deciphering the liquidity and credit crunch 2007-2008. The Journal of economic perspectives, 23(1), 77-100.
The focus of the study is on the financial market, which has been identifies, by the author, as the main reason of the financial crisis. The paper is divided into three parts, the cause of the financial decline; the financial market situation from 2007; and the four economic mechanisms, responsible for turning a mortgage crisis into a financial disaster: mortgage market situation, banking crisis, the response of financial institutions and the liquidity crisis. The author offer a recount of the events prior to the financial crisis in USA and several angles from where to start future investigations are revealed.
Cecchetti, S. G. (2008). Crisis and responses: the Federal Reserve and the financial crisis of 2007-2008 (No. w14134). National Bureau of Economic Research.
This essay focuses on the most important pawn of the financial crisis in the US: the Federal Reserve. As traditional banking tools became inefficient, federal officials tried to avoid the crisis by using new tools, such as the Term Action Facility (TAF) and the Primary Dealer Credit Facility (PDCF). The author uses a subjective tone and as tool for describing the crisis is the balance sheet of the Federal Reserve from 2007-2008. The essay shares the insight of an economic advisor and it explains concepts connected to the Federal Reserve. There are several questions asked concerning the decisions taken by Federal official, who were overwhelmed by the situation. New studies could be conducted using the response of the Federal Reserve and proposing alternative solutions.
Orlowski, L.T. (2008). Stages of the 2007/2008 Global Financial Crisis Is There a Wandering Asset-Price Bubble?, KIWE Economic Discussion Paper, no. 43, 2008.
The study analyses the financial crisis in the US and the author identifies five stages: the housing bubble, the mortgage crisis, the liquidity crisis, the collapse of CDOs and the bankruptcy of most global financial services. The conclusion of the author was that the crisis was severe due to erroneous bank management, such as giving excessive credits. The paper offers an explanation and it also invites others to continue investigating the financial crisis in 200702008.
Reinhart, C. M., & Rogoff, K. S. (2009). The aftermath of financial crisis. American Economic Review, 99(2), 466-72.
This paper studies the repercussions of the financial crisis: the unemployment rate, house and equity, internal and external debt and the Federal Revenue. The authors compare the banking crisis of USA, a global economical power, with that of emerging economical markets and similar patterns are found. The consequences of the financial crisis had long lasting effects on employment and prices. The purpose of the study was to show the aftermath of a financial crisis and also to speculate how things could continue post-crisis. The paper shows how to contextualize financial crises, according to the global context of that time span.