【主讲人】 Yi Li (李怡)
【主持人】 高明 助理教授
【报告摘要】This presentation offers an in-depth analysis of the 2007-2009 financial crisis and the significant role the Federal Reserve played in tackling the crisis. It explains in details how the problems in the U.S. subprime mortgage market spiraled into a global financial crisis and economic recession, how the shadow banking sector played a central role in escalating and spreading the crisis, and how the interconnectedness among modern financial institutions acted as a catalyst for the meltdown. Most importantly, this presentation provides a full review of the Federal Reserve’s innovative and unconventional toolkit created during the crisis, as well as the underlying logic and the effectiveness of these programs.
【主讲人介绍】Yi Li is a senior economist at the Board of Governors of the Federal Reserve System in Washington DC, where she conducts policy analyses and research in the fields of short-term funding markets, institutional investor behaviors, and lending relationship in shadow banking. Her paper on herding behaviors of corporate bond investors is published at Journal of Financial Economics and receives extensive media coverage. Yi earned her Ph.D. in Economics from Princeton University in 2014. Prior to her graduate studies, Yi received her bachelor degrees in Economics and Mathematics from Peking University in 2007.