MPP/Finance Seminar with Moritz Schularick, University of Bonn
The Center for Business History, Department of Management, Politics and Philosophy and the Department of Finance are proud to announce the seminar with Moritz Schularick, University of Bonn.
Moritz Schularick will give a talk on
The Great Leveraging
We live in financial times. Measured by the importance of credit in the economy, the advanced economies have never been more financialized than today. This „Great Leveraging“ has far-reaching consequences for financial stability and economic performance. Credit is a powerful predictor of financial crises, which are typically followed by deep recessions, slow recoveries, and political turmoil. Credit-fueled house price booms have emerged as a particularly dangerous phenomenon. The interaction of leverage and asset prices has come to play a central role in the modern macroeconomy.
Moritz Schularick is an economic historian and Professor of Economics at the University of Bonn. He has published widely on financial bubbles in historical perspective. For more information on Moritz Schularick, please see: https://sites.google.com/site/moritzschularick/