The 2008 Global Financial Crisis in Retrospect

1. A retrospective on the 2008 global financial crisis Robert Z Aliber and Gylfi Zoega Part I The source of the 2008 global financial crisis 2. The Financial Alchemy that Failed Marcus Miller 3. Prudential Regulation and Capital ControlsMichael Dooley 4. Three Grand State Projects Meet the Financial SystemPeter Garber 5. The 2008 GFC: Savings or banking glut? Robert McCauley Discussion. 6. Capital Flows into the United States Ahead of the Great North Atlantic FinancialCrisis Brad Setser 7. The foreign capital flow and domestic drivers of the US financial crisis and its spreadglobally Jeffrey Shafer 8. Financial crisis and bank capital Robert Aliber 9. Three Reflections on Banking Regulation and Cross-Border Financial Flows Edwin Truman Discussion. Part II Iceland and the 2008 global crisis 10. From a Capital Account Surplus to a Current Account Deficit Gylfi Zoega and Hamid Raza 11. The Icelandic banking crisis of 2008: Some exportable lessons" Gauti Eggertsson, Sigridur Benediktsdottir and Eggert T Thorarinsson Discussion. 12. Iceland's capital controlsFridrik M. Baldursson 13. Wages of failure: Compensation schemes of the failed Icelandic banks and subsequent policyresponses Gudrun Johnsen 14. Financial policy after the crisisJon Danielsson Discussion. 15. Business cycles and health: Lessons from the Icelandic economic collapseTinna Asgeirsdóttir 16. Ten years after: Iceland's unfinished business Thorvaldur Gylfason Discussion. 17. After 100 years of experimenting: One solution?Asgeir Jonsson 18. Iceland should replace its central bank with a currency boardFredrik NG Andersson and Lars Jonung 19. Post-crisis monetary policy reforms in Iceland: Learning the hard way Thorarinn G. Petursson 20. Inflation targeting, capital controls, and currency intervention in Iceland, 2012-2017Sebastian Edwards Discussion. Part III Panel discussion on the 2008 crisis 21. Comments by Robert Z Aliber 22. Comments by William White 23. Comments by Larry Goodman

Robert Z. Aliber received a Bachelor of Arts degree from Williams College (1952) and Bachelor of Arts (1954) and a Master of Arts (1957) from Cambridge University. He received his Ph.D. from Yale University. He has been a staff economist at the Commission on Money and Credit (1959-61) and at the Committee for Economic Development (1961-64). Aliber served as a senior economic advisor at the United States Agency for International Development (1964-65). He was appointed as an associate professor at the University of Chicago in 1964. He is best known for his contribution to the theory of foreign direct investment. He is the author of revised editions of Charles Kindleberger's Manias, Panics and Crashes(Palgrave Macmillan). Gylfi Zoega received his first degree at the University of Iceland and a PhD in economics from Columbia University in 1993. He is Professor of Economics at the University of Iceland and Birkbeck College, London, since 1993 and an external member of the Monetary Policy Committee of the Central Bank of Iceland. He has followed the financial crisis in Iceland and taken part in the recovery effort for the past ten years. In addition, he has written a number of academic papers on financial turbulence and capital flows and co-authored the book Preludes to the Icelandic Financial Crash in 2011.