The latest issue of the American Economic Review: Insights features Felipe Benguria's latest publication, "After the Panic: Are Financial Crises Demand or Supply Shocks? Evidence from International Trade."

This article is joint work with Alan M. Taylor, Distinguished Professor of Economics and Finance at the University of California, and was supported by the Bankard Fund for Political Economy. It was featured by the the Brookings Institution, the Washington Center for Equitable Growth, the American Enterprise Institute, the NBER website home page, and was presented at the NBER Summer Institute.

The goal of Benguria's research is to help guide better policy responses to future financial crises. As the authors argue, "Had we known more in 2008, and known what was to blame for the Great Recession, we might have had more effective policy responses."