• Project Title: Why Are Financial Crises so Endemic, What Causes Them, and Why Are We Unable to Prevent Them

  • BASIS Advisor: Brian Rappelfeld

Global recessions, such as the Great Depression of the 1930s, the oil crisis of the 1970s, the global financial crisis of 2008, and the COVID-19 pandemic, have had profound impacts on economies and financial markets. To mitigate their impact, policymakers have implemented a range of policy responses including fiscal and monetary policies. This study will conduct a comparative analysis of historical and recent global recessions to identify common macroeconomic factors that contribute to the onset and severity of these events. It will also examine effective policy responses to prevent or mitigate the impact of such financial crises. By providing insights into the nature of global recessions and potential policy strategies for preventing or mitigating their impact in the future, this study will contribute to our understanding of global recessions and will aim to guide future policy decisions.