Fri 8 Sep | Brookings
Iceland’s banking crisis—which in terms of failed assets vs. GDP was the largest banking crisis on record—produced several important lessons for international regulators, according to an article co-authored by Brown economist Gauti B. Eggertsson. Eggertsson and his colleagues recently provided an analysis on how the Icelandic banking system ballooned to nine times its GDP when it failed in 2008 and where the money went.