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Alternative Market Briefing

The Big Picture: The global situation remains more precarious than before 2007 in terms of overall leverage

Wednesday, December 10, 2014

amb
Atif Mian
Benedicte Gravrand, Opalesque Geneva:

Just as countries are pondering rises in interest rates and their outcome, an economist recently discussed excessive debt, households spending, monetary policy and global deleveraging on Opalesque Radio.

Atif Mian is Professor of Economics at Princeton University and director of the Julis-Rabinowitz Center for Public Policy and Finance. Together with Amir Sufi, a Professor of Finance in Chicago, he authored "House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It From Happening Again" (University Of Chicago Press, 192 pages, May 2014), which was shortlisted for an award.

In a candid conversation with Sona Blessing at the recent Ayaltis Annual Investor Event, Atif explains why monetary policy measures implemented after the 2008 financial crisis have not been very effective and discusses whether the economy has actually deleveraged.

Monetary policy does not take households into account In his view, monetary policy has been less effective during the recent years because the probl......................

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