In Most of the Macroeconomic Models Built Before the Crisis

Multiple Choice

In most of the macroeconomic models built before the crisis, what role did the financial system and intermediation play?

A) The role of banks and other financial institutions in the economy was largely ignored.
B) Banks and other financial institutions were a regular feature of macroeconomic models but played a minor role.
C) Most of the work on the elements needed to understand the crisis was carried out in the fields of finance or corporate finance so that these elements were not fully incorporated.
D) Both A and B.
E) Both A and C.