tailieunhanh - The Global Financial Crisis: Causes and Consequences

The questions can only provide meaningful information about the level of financial literacy of individuals and populations if they are sufficiently varied to differentiate between high and low achievers by combining a mixture of easy and more difficult problems. The analysis of responses to each question shows that the spread of difficulty in the core questionnaire is appropriate; differentiating well both within countries and across countries. There are also a sufficient number of questions to provide a good overview of a person’s basic knowledge, indicate general willingness to absorb financial information and an ability to apply knowledge to particular problems | LOWY INSTITUTE FOR INTERNATIONAL POLICY WORKING PAPERS IN INTERNATIONAL ECONOMICS NOVEMBER 2009 No. The Global Financial Crisis Causes and Consequences Warwick J MCKIBBIN AND Andrew Stoeckel International Economy Program The Lowy Institute for International Policy is an independent international policy think tank. Its mandate ranges across all the dimensions of international policy debate in Australia - economic political and strategic - and it is not limited to a particular geographic region. Its two core tasks are to produce distinctive research and fresh policy options for Australia s international policy and to contribute to the wider international debate. promote discussion of Australia s role in the world by providing an accessible and high-quality forum for discussion of Australian international relations through debates seminars lectures dialogues and conferences. This Working Paper series presents papers in a preliminary form and serves to stimulate comment and discussion. The views expressed in this paper are entirely the authors own and not those of the Lowy Institute for International Policy. The Global Financial Crisis Causes and Consequences Warwick J. McKibbin CAMA Australian National University The Brookings Institution Andrew Stoeckel Visiting Fellow CAM A Australian National University Revised September 2009 JEL Classifications . Keywords Global Financial Crisis International Trade DSGE models. Prepared for the Asian Economic Panel meeting to be held in Tokyo September. We thank Peter Downes Vivek Tulpule for useful conversations and Will Martin Jean-Pierre Chauffeur Yonghyup Oh Anwar Nasution Mark Thirlwell and participants at the Asian Economic Panel for comments. McKibbin acknowledges support from ARC Discovery Grant DP0664024. The views expressed in the paper are those of the authors and should not be interpreted as reflecting the views of any of the above collaborators or of the Institutions with which the authors are affiliated .

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