This volume investigates the role of money, credit, and sectoral balance sheets in understanding the 2008 financial crisis. Prepared by international experts, the book examines how flow-of-funds analysis can be applied by central banks and academics to gain insights into macrofinancial stability. It synthesizes lessons learned from the crisis experience to inform future analytical frameworks and policy decisions.

This volume is regarded as a significant contribution to the literature on financial crises, particularly for its focus on the flow-of-funds perspective. Experts in central banking and academia are likely to find its detailed analysis of money, credit, and balance sheets highly informative. The synthesis of lessons learned from the crisis experience provides valuable insights for macrofinancial analysis and the pursuit of financial stability.