Alan M. Taylor Quotes

It’s just very hard to teach a class of students about what has happened in the Global Financial Crisis.
ALAN M. TAYLOR

Crisis Finance Hard Very
And we have never observed modern finance-capitalist systems operating over a sustained period at this kind of credit-to-GDP leverage ratio.
ALAN M. TAYLOR

Capitalist Credit Finance GDP Leverage Modern Operate Period
Eventually the banking systems of all advanced economies reach magnitudes of 500 percent,
ALAN M. TAYLOR

All Bank Economic Magnitude Percent Raech System
More financial instability will introduce more uncertainty all down the line.
ALAN M. TAYLOR

All Down Financial Instable Introduce Line More
1000 percent or more of GDP, so that every economy starts to have financial systems that resemble recent cases like Switzerland, Ireland, Iceland, or Cyprus. That might be a very fragile world to live in.
ALAN M. TAYLOR

Economy Financial Fragile More Percent System
We have never in human history seen a run-up in credit of the kind we have just witnessed in advanced economies since 1970.
ALAN M. TAYLOR

Credit Economic Witness
We may end up with a world based more on equity than debt, or more on market debt instruments than bank intermediation; but how and why we get there is a mystery.
ALAN M. TAYLOR

Based Debt End Equity Intermediate More
A possibility is that we see more and more leverage, and credit-to-GDP ratios rise once more to even higher levels.
ALAN M. TAYLOR

Credit Higher Leverage More Ratiom Gdp
If we have moved back to a regime of regular financial crises – like the one we had from the 1870s to the 1930s.
ALAN M. TAYLOR

Crise Financial Move Regime Regular Since Year
Non-trivial understanding of the financial sector, credit, and the banking system.
ALAN M. TAYLOR

Bank Credit Financial Non Sector System Trivial

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