Economists and policymakers must recognise that the world is changing and reset the existing models that guide decisions. The notion of a shock is new to macroeconomics. However, there is an implicit assumption that these are infrequent and transmitted largely through financial channels.
In the aftermath of the collapse of Silicon Valley Bank (SVB), the 16th biggest bank in the country, many are left wondering what went wrong. Both current and former employees have stated that the bank's support of remote work is a contributing factor.
Neither regulators nor President Joe Biden were able to stop panic on Monday, March 13, brought about by the collapse of the state-chartered commercial bank Silicon Valley Bank (SVB). Shares of [.]