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World lost equivalent of 255 mn jobs in 2020: UN

The coronavirus pandemic took a huge toll on global jobs last year, the United Nations said Monday, with the equivalent of more than a quarter of a billion lost.

Unconventional monetary policy and bank risk taking

Unconventional monetary policy does not lead to greater risk-taking by banks, according to new research. This will be welcome news for central banks and policymakers as they ramp up efforts to limit the economic fallout of ...

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Global financial crisis of 2008–2009

The global financial crisis of 2008–2009 began in July 2007 when a loss of confidence by investors in the value of securitized mortgages in the United States resulted in a liquidity crisis that prompted a substantial injection of capital into financial markets by the United States Federal Reserve, Bank of England and the European Central Bank. The TED spread, an indicator of perceived credit risk in the general economy, spiked up in July 2007, remained volatile for a year, then spiked even higher in September 2008, reaching a record 4.65% on October 10, 2008. In September 2008, the crisis deepened, as stock markets worldwide crashed and entered a period of high volatility, and a considerable number of banks, mortgage lenders and insurance companies failed in the following weeks.

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