Sources of the Great Recession 8 March 2016 Philippines Shin-Ichi Nishiyama, then with Tohoku University and currently a Professor at Kobe University, talked about the sources of Great Recession of the US economy. He concluded in his paper that negative bank net worth shock affected the US economy before the downturn of corporate net worth. Troubled Asset Relief Program worked well for financial institutions but not for corporate sector. Program and Learning Materials 08 March 2016 Session / Activity Title Speaker(s) Presentation Sources of Great Recession: A Bayesian Approach of a Data Rich Dynamic Stochastic General Equilibrium Model with Time-Varying Volatility Shocks Kobe University Professor Shin-Ichi Nishiyama, then with Tohoku University, in his paper concluded that negative bank net worth shock affected the US… Shin-Ichi Nishiyama Disclaimer The views expressed on this website are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. By making any designation of or reference to a particular territory or geographic area, or by using the term “country” in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area. Event Coordinator/s Angela Kristine Escudero Enthrem Bagtas ADB Organizer/s South Asia Department Topics Economics