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Darrell Duffie

Dealer banks--that is, large banks that deal in securities and derivatives, such as J. P. Morgan and Goldman Sachs--are of a size and complexity that sharply distinguish them from typical commercial...

Christian Saint-Etienne

Economists as diverse in approach as Lord Keynes and Milton Friedman have analyzed the causes of the Great Depression, and their answers have ranged from underconsumption to failings in monetary...