Daniel Levy, Tamir Mayer, Alon Raviv, 01 April 2020

Economists and finance scholars faced harsh criticism for failing to anticipate the 2008 financial crisis. This column presents evidence from textual analyses of 14,270 working papers published between 1999–2016 that is consistent with this criticism. However, as soon as the crisis unravelled, economists appeared to dramatically increase their efforts in studying and understanding the crisis, its causes and its consequences.

CEPR Policy Research