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14.454 | Spring 2026 | Graduate

# Economic Crises

#### Lecture Notes

pdf
1 MB
Lecture 1: Introduction
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199 kB
Lecture 2: Collateral and Amplification
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195 kB
Lecture 3: The Credit Crunch
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547 kB
Lecture 4: Runs, Panics, and Contagions
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1 MB
Lecture 5: Bubbles and Speculation
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556 kB
Lecture 6: Credit Booms
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458 kB
Lecture 7: The Liquidity Trap and Leverage
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738 kB
Lecture 8: Capital Flows and Sudden Stops
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826 kB
Lecture 9: Financial Conditions Guidance: The Recruitment Effect

#### Problem Set Solutions

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204 kB
Solutions for Problem Set Questions 1 and 2
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151 kB
Solutions for Problem Set Questions 3 and 4
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201 kB
Solutions for Problem Set Questions 5 and 6
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164 kB
Solutions for Problem Set Questions 7 and 8
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160 kB
Solutions for Problem Set Questions 9 and 10

#### Problem Sets

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216 kB
All Problem Sets

## Course Info

### Instructor

- Prof. Ricardo Caballero

### Departments

- Economics

### As Taught In

Spring 2026

### Level

Graduate

### Topics

- Social Science
  - Economics
    - Financial Economics
    - Macroeconomics

### Learning Resource Types

notes Lecture Notes
assignment_turned_in Problem Set Solutions
assignment Problem Sets
auto_stories Readings

Browse Resources

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