Domestic Public Policy

The Great Leveraging: Credit, Crises, and the Achilles’ Heel of Capitalism

Grant Year: 2018


Alan Taylor, Òscar Jordà, and Moritz Schularick will research and write a book examining the extent to which increased levels of public and private sector debt have led to financial instability and hampered economic growth. They will synthesize findings from their analysis of a dataset that they have built containing information of public and private sector debt in 17 countries over a 145-year period.

University of California Domestic Public Policy

$194,000