Moritz Schularick: Credit Booms Gone Bust

The video features a professor of economics discussing his research on private debt and its impact on the real economy. The research, conducted with colleagues from the University of Virginia and UC Davis, aims to use macroeconomic history and empirical methods to address policy questions related to finance and growth. The professor highlights the importance of collecting long-run, cross-country datasets to understand the role of private credit in financial instability. He contrasts his work with that of Rogoff and Reinhart, emphasizing the focus on private rather than public debt. The discussion also covers the economic functions of different types of lending and the professor's background in economics and history, underscoring the value of historical insights in addressing contemporary policy issues.

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