Great Recession
![China's expanded monetary policy after the Great Recession helped support less productive companies.](/imager/clientcontent/133915/kellogg_ponticelli_01-011_24b460fa1ebea811277db04848c0c9ae.jpg 300w, /imager/clientcontent/133915/kellogg_ponticelli_01-011_827c6770ff3212869f8cd62919d4ad9e.jpg 150w, /imager/clientcontent/133915/kellogg_ponticelli_01-011_d790d93e6f5615a6551c6dd7531f3901.jpg 25w)
Economics
China Weathered the Global Recession with an Aggressive Stimulus Package. But Did It Prop Up the Wrong Firms?
A cautionary tale about the unintended consequences of credit expansion.
Researchers: Lin William Cong, Haoyu Gao, Jacopo Ponticelli and Xiaoguang Yang
August 1, 2019
![A job hunter googles job information.](/imager/clientcontent/132567/Baker-GoogleJobs_24b460fa1ebea811277db04848c0c9ae.jpg 300w, /imager/clientcontent/132567/Baker-GoogleJobs_827c6770ff3212869f8cd62919d4ad9e.jpg 150w, /imager/clientcontent/132567/Baker-GoogleJobs_d790d93e6f5615a6551c6dd7531f3901.jpg 25w)
Economics
What Google Is Teaching Economists About Unemployment Insurance
Search data can tell policymakers whether extending unemployment benefits delays job-seeking.
Researchers: Scott R. Baker and Andrey Fradkin
December 5, 2018
![a family adds assets to its house](/imager/clientcontent/59630/houseLeverage_24b460fa1ebea811277db04848c0c9ae.jpg 300w, /imager/clientcontent/59630/houseLeverage_827c6770ff3212869f8cd62919d4ad9e.jpg 150w, /imager/clientcontent/59630/houseLeverage_d790d93e6f5615a6551c6dd7531f3901.jpg 25w)
Finance & Accounting
Take 5: How Do Households Manage Fluctuating Finances?
Plus, how policymakers can help them manage better.
Researchers: Janice C. Eberly, Lorenz Kueng, Scott R. Baker, Anthony DeFusco and John Mondragon
February 5, 2018
![Does private equity backing make firms stronger or weaker?](/imager/clientcontent/72911/private-equity_24b460fa1ebea811277db04848c0c9ae.jpg 300w, /imager/clientcontent/72911/private-equity_827c6770ff3212869f8cd62919d4ad9e.jpg 150w, /imager/clientcontent/72911/private-equity_d790d93e6f5615a6551c6dd7531f3901.jpg 25w)
Finance & Accounting
Private Equity Helped Firms Weather the Great Recession
A new study shows that debt isn’t always a liability during a financial crisis.
Researchers: Shai Bernstein, Josh Lerner and Filippo Mezzanotti
January 4, 2018
![a family adds assets to its house](/imager/clientcontent/59630/houseLeverage_24b460fa1ebea811277db04848c0c9ae.jpg 300w, /imager/clientcontent/59630/houseLeverage_827c6770ff3212869f8cd62919d4ad9e.jpg 150w, /imager/clientcontent/59630/houseLeverage_d790d93e6f5615a6551c6dd7531f3901.jpg 25w)
Policy
Measuring the Impact of Dodd–Frank on Household Leverage
The regulation’s attempt to prevent people from taking on mortgages they can’t repay may not work as intended.
Researchers: Anthony DeFusco, Stephanie Johnson and John Mondragon
December 1, 2017
![A homeowner uses the value of their home to buy things.](/imager/clientcontent/34687/defusco_fina_revised_24b460fa1ebea811277db04848c0c9ae.jpg 300w, /imager/clientcontent/34687/defusco_fina_revised_827c6770ff3212869f8cd62919d4ad9e.jpg 150w, /imager/clientcontent/34687/defusco_fina_revised_d790d93e6f5615a6551c6dd7531f3901.jpg 25w)
Finance & Accounting
Why Are We So Quick to Borrow When the Value of Our Home Rises?
The reason isn’t as simple as just feeling wealthier.
Researchers: Anthony DeFusco
February 3, 2017
![Countering the effects of launching a startup in a recession.](/imager/clientcontent/34491/recession_final_24b460fa1ebea811277db04848c0c9ae.jpg 300w, /imager/clientcontent/34491/recession_final_827c6770ff3212869f8cd62919d4ad9e.jpg 150w, /imager/clientcontent/34491/recession_final_d790d93e6f5615a6551c6dd7531f3901.jpg 25w)
Organizations
Businesses Born in a Recession Tend to Start Smaller and Stay Smaller
Yet there are ways business owners can counter these long-term effects.
Researchers: Sara Moreira
January 5, 2017
![Liquidity kept auto purchases flowing via captive lessors.](/imager/clientcontent/8075/pipe_car_final_24b460fa1ebea811277db04848c0c9ae.jpg 300w, /imager/clientcontent/8075/pipe_car_final_827c6770ff3212869f8cd62919d4ad9e.jpg 150w, /imager/clientcontent/8075/pipe_car_final_d790d93e6f5615a6551c6dd7531f3901.jpg 25w)
Finance & Accounting
Why Did Car Sales Drop So Dramatically During the Financial Crisis?
Even willing buyers were affected by a credit freeze.
Researchers: Efraim Benmelech, Ralf R. Meisenzahl and Rodney Ramcharan
April 4, 2016
![What went wrong during the AIG financial crisis?](/imager/clientcontent/7807/aig2_24b460fa1ebea811277db04848c0c9ae.jpg 300w, /imager/clientcontent/7807/aig2_827c6770ff3212869f8cd62919d4ad9e.jpg 150w, /imager/clientcontent/7807/aig2_d790d93e6f5615a6551c6dd7531f3901.jpg 25w)
Finance & Accounting
What Went Wrong at AIG?
Unpacking the insurance giant’s collapse during the 2008 financial crisis.
Researchers: Robert McDonald and Anna Paulson
August 3, 2015
![](/imager/clientcontent/7961/houshold_income_24b460fa1ebea811277db04848c0c9ae.jpg 300w, /imager/clientcontent/7961/houshold_income_827c6770ff3212869f8cd62919d4ad9e.jpg 150w, /imager/clientcontent/7961/houshold_income_d790d93e6f5615a6551c6dd7531f3901.jpg 25w)
Finance & Accounting
Is Your Household Liquid Enough?
Ample cash reserves aid households when faced with the unexpected.
Researchers: Scott R. Baker
December 1, 2014
![Unemployment Insurance helps people save their houses](/imager/clientcontent/8196/unemployment_24b460fa1ebea811277db04848c0c9ae.jpg 300w, /imager/clientcontent/8196/unemployment_827c6770ff3212869f8cd62919d4ad9e.jpg 150w, /imager/clientcontent/8196/unemployment_d790d93e6f5615a6551c6dd7531f3901.jpg 25w)
Policy
The Hidden Benefits of Unemployment Insurance
A pioneering study reveals that the benefits of unemployment insurance include reductions in mortgage defaults and improved access to credit.
Researchers: Joanne W. Hsu, David A. Matsa and Brian Melzer
August 4, 2014
![The world wonders what caused the great recession.](/imager/clientcontent/8096/Full_1222_china_us_24b460fa1ebea811277db04848c0c9ae.jpg 300w, /imager/clientcontent/8096/Full_1222_china_us_827c6770ff3212869f8cd62919d4ad9e.jpg 150w, /imager/clientcontent/8096/Full_1222_china_us_d790d93e6f5615a6551c6dd7531f3901.jpg 25w)
Finance & Accounting
What Really Spurred the Great Recession?
Globalization and the U.S. dollar are as much to blame as banks.
Researchers: Ravi Jagannathan, Mudit Kapoor and Ernst Schaumburg
July 1, 2013
Finance & Accounting
Debt Markets During the Crisis
Failure to see the big picture led to a breakdown
Researchers: Arvind Krishnamurthy
April 1, 2011