Measuring Wealth and Financial Intermediation and Their Links to the Real Economy.

• Position: Bureau Books

Edited by Charles R. Hulten and Marshall B. Reinsdorf

Cloth $130.00

NBER Studies in Income and Wealth, Volume 73

More than half a decade has passed since the bursting of the housing bubble and the collapse of Lehman Brothers. In retrospect, what is surprising is that these events and their consequences came as such a surprise. What was it that prevented most of the world from recognizing the impending crisis and, looking ahead, what needs to be done to prevent a recurrence?

Measuring Wealth and Financial Intermediation and Their Links to the Real Economy identifies measurement problems associated with the financial crisis and improvements in measurement that may prevent future crises, taking account of the dynamism of the financial...