What Have We Learned from the 2007-08 Financial Crisis? Papers Presented at the Second International Workshop on Financial Markets and Nonlinear Dynamics (Paris, June 4-5, 2015)

Abstract

This note introduces eight studies presented at the second International Workshop on Financial Markets and Nonlinear Dynamics (FMND), organized in Paris on June 4–5, 2015 (www.fmnd.fr). These studies focus, first, on the main effects of the recent financial crisis of 2008–2009. Second, they discuss consequences of the global economic downturn of 2008–09. To do this, the authors focus on the main effects on real economies and financial systems of the financial crisis and then sum up the key reforms, recommendations and new rules and challenges that emerged from the crisis. For each paper under consideration, the economic theory and/or hypothesis suggested is illustrated through an empirical investigation.