Internationale verknoping aan basis van krediet- en coronacrisis

Translated title of the contribution: Complex worldwide economic networks are at the root of both the credit and the corona crisis

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Abstract

The same economic mechanism, namely that of contagion, underlies the current economic crisis due to the corona virus as the 2008 credit crisis. Where credit problems spread rapidly in the financial world in 2008, the corona virus spreads rapidly over the world population at the start of 2020. From that perspective, this article discusses the similarities and differences between the credit and corona crises and draws lessons for policy makers. One lesson is that adequate macro-prudential supervision could have prevented the contagion risk in the globally entangled financial markets and thus the credit crisis. Likewise, curtailment of business and leisure travel could have prevented worldwide coronavirus infection. Moreover, policies to mitigate the effects of the corona crisis should not lead to a debt crisis, as in the case of the credit crisis.
Translated title of the contributionComplex worldwide economic networks are at the root of both the credit and the corona crisis
Original languageDutch
Pages (from-to)150-152
Number of pages3
JournalEconomisch Statistische Berichten
Volume105
Issue number4784
Publication statusPublished - 9 Apr 2020

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