The US 10-year yield, moved from 4.27% in June 2008 to 2.05 (Dec 2008), 4% (Apr 10) and historical low of 1.3910 in July this year. USD/EUR, the current flavour, was at 1.60 in April 2008.
In addressing these two crises, cooperation among central banks, international institutions, and academia has deepened further, and the theory and practice of economic policies have evolved. In the current crisis, academic disciplines, including economics, have made a significant contribution.