Understanding Financial Crises
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Understanding Financial Crises
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Author : Franklin Allen
language : en
Publisher: Oxford University Press
Release Date : 2009
Understanding Financial Crises written by Franklin Allen and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.
What causes a financial crisis? Can crises be anticipated or even avoided? Should governments and international institutions intervene? Based on ten years of research, the authors develop a theoretical approach to analyzing financial crises and use the latest economic theories to begin to understand the causes and consequences of financial crises.
Understanding Financial Crises
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Author : Franklin Allen
language : en
Publisher: OUP Oxford
Release Date : 2009-04-02
Understanding Financial Crises written by Franklin Allen and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-04-02 with Business & Economics categories.
What causes a financial crisis? Can financial crises be anticipated or even avoided? What can be done to lessen their impact? Should governments and international institutions intervene? Or should financial crises be left to run their course? In the aftermath of the Asian financial crisis, many blamed international institutions, corruption, governments, and flawed macro and microeconomic policies not only for causing the crisis but also unnecessarily lengthening and deepening it. Based on ten years of research, the authors develop a theoretical approach to analyzing financial crises. Beginning with a review of the history of financial crises and providing readers with the basic economic tools needed to understand the literature, the authors construct a series of increasingly sophisticated models. Throughout, the authors guide the reader through the existing theoretical and empirical literature while also building on their own theoretical approach. The text presents the modern theory of intermediation, introduces asset markets and the causes of asset price volatility, and discusses the interaction of banks and markets. The book also deals with more specialized topics, including optimal financial regulation, bubbles, and financial contagion.
Financial Crises
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Author : Mr.Stijn Claessens
language : en
Publisher: International Monetary Fund
Release Date : 2014-02-19
Financial Crises written by Mr.Stijn Claessens and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-02-19 with Business & Economics categories.
The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries, are discussed.
Financial Crises
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Author : Martin H. Wolfson
language : en
Publisher: M.E. Sharpe
Release Date : 1986
Financial Crises written by Martin H. Wolfson and has been published by M.E. Sharpe this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Business & Economics categories.
This book is a path-breaking survey and critique of the major theories of financial crises. It builds a model of crisis from an analysis of postwar financial crises in the United States through the mid-1980's. It has gained interest as a supplemental text.
Misunderstanding Financial Crises
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Author : Gary B. Gorton
language : en
Publisher: Oxford University Press
Release Date : 2012-11-02
Misunderstanding Financial Crises written by Gary B. Gorton and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-02 with Business & Economics categories.
Before 2007, economists thought that financial crises would never happen again in the United States, that such upheavals were a thing of the past. Gary B. Gorton, a prominent expert on financial crises, argues that economists fundamentally misunderstand what they are, why they occur, and why there were none in the U.S. from 1934 to 2007. Misunderstanding Financial Crises offers a back-to-basics overview of financial crises, and shows that they are not rare, idiosyncratic events caused by a perfect storm of unconnected factors. Instead, Gorton shows how financial crises are, indeed, inherent to our financial system. Economists, Gorton writes, looked from a certain point of view and missed everything that was important: the evolution of capital markets and the banking system, the existence of new financial instruments, and the size of certain money markets like the sale and repurchase market. Comparing the so-called "Quiet Period" of 1934 to 2007, when there were no systemic crises, to the "Panic of 2007-2008," Gorton ties together key issues like bank debt and liquidity, credit booms and manias, moral hazard, and too-big-too-fail--all to illustrate the true causes of financial collapse. He argues that the successful regulation that prevented crises since 1934 did not adequately keep pace with innovation in the financial sector, due in part to the misunderstandings of economists, who assured regulators that all was well. Gorton also looks forward to offer both a better way for economists to think about markets and a description of the regulation necessary to address the future threat of financial disaster.
Financial Markets And Financial Crises
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Author : R. Glenn Hubbard
language : en
Publisher: University of Chicago Press
Release Date : 1991-08-13
Financial Markets And Financial Crises written by R. Glenn Hubbard and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-08-13 with Business & Economics categories.
Warnings of the threat of an impending financial crisis are not new, but do we really know what constitutes an actual episode of crisis and how, once begun, it can be prevented from escalating into a full-blown economic collapse? Using both historical and contemporary episodes of breakdowns in financial trade, contributors to this volume draw insights from theory and empirical data, from the experience of closed and open economies worldwide, and from detailed case studies. They explore the susceptibility of American corporations to economic downturns; the origins of banking panics; and the behavior of financial markets during periods of crisis. Sever papers specifically address the current thrift crisis—including a detailed analysis of the over 500 FSLIC-insured thrifts in the southeast—and seriously challenge the value of recent measures aimed at preventing future collapse in that industry. Government economists and policy makers, scholars of industry and banking, and many in the business community will find these timely papers an invaluable reference.
The Municipal Financial Crisis
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Author : Mark Moses
language : en
Publisher: Springer Nature
Release Date : 2022-01-06
The Municipal Financial Crisis written by Mark Moses and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-01-06 with Business & Economics categories.
City governments are going bankrupt. Even the ones that aren’t are often stuck in financial chaos. It is easy to blame pensions, poor leadership, or a bad economy. But the problems go much deeper. With decades of experience in local government, author Mark Moses showcases the inside world of the city decision-making process that has spawned these crises. It becomes clear: City governments are maxing out their budgets because they are trying to maximize services. This book, likely the most ambitious attempt by someone who has worked in government to radically examine the delivery of municipal services since 'Reinventing Government' was published more than 25 years ago, explores why city governments pursue an open-ended mission and why bailouts and trendy budgeting processes will be, at best, only temporary solutions. Of interest to current and future city council members, regional and state government officials, those covering city government, financial analysts, city management, and individuals and organizations interested in influencing city policy, this book argues that cities won’t thrive until city hall is disrupted.
Crashed
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Author : Adam Tooze
language : en
Publisher: Penguin
Release Date : 2018-08-07
Crashed written by Adam Tooze and has been published by Penguin this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08-07 with Business & Economics categories.
WINNER OF THE LIONEL GELBER PRIZE A NEW YORK TIMES NOTABLE BOOK OF 2018 ONE OF THE ECONOMIST'S BOOKS OF THE YEAR A NEW YORK TIMES CRITICS' TOP BOOK "An intelligent explanation of the mechanisms that produced the crisis and the response to it...One of the great strengths of Tooze's book is to demonstrate the deeply intertwined nature of the European and American financial systems."--The New York Times Book Review From the prizewinning economic historian and author of Shutdown and The Deluge, an eye-opening reinterpretation of the 2008 economic crisis (and its ten-year aftermath) as a global event that directly led to the shockwaves being felt around the world today. We live in a world where dramatic shifts in the domestic and global economy command the headlines, from rollbacks in US banking regulations to tariffs that may ignite international trade wars. But current events have deep roots, and the key to navigating today’s roiling policies lies in the events that started it all—the 2008 economic crisis and its aftermath. Despite initial attempts to downplay the crisis as a local incident, what happened on Wall Street beginning in 2008 was, in fact, a dramatic caesura of global significance that spiraled around the world, from the financial markets of the UK and Europe to the factories and dockyards of Asia, the Middle East, and Latin America, forcing a rearrangement of global governance. With a historian’s eye for detail, connection, and consequence, Adam Tooze brings the story right up to today’s negotiations, actions, and threats—a much-needed perspective on a global catastrophe and its long-term consequences.
A History Of Financial Crises
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Author : Cihan Bilginsoy
language : en
Publisher: Routledge
Release Date : 2014-11-27
A History Of Financial Crises written by Cihan Bilginsoy and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-11-27 with Business & Economics categories.
"Once-in-a-lifetime" financial crises have been a recurrent part of life in the last three decades. It is no longer possible to dismiss or ignore them as aberrations in an otherwise well-functioning system. Nor are they peculiar to recent times. Going back in history, asset price bubbles and bank-runs have been an endemic feature of the capitalist system over the last four centuries. The historical record offers a treasure trove of experience that may shed light on how and why financial crises happen and what can be done to avoid them - provided we are willing to learn from history. This book interweaves historical accounts with competing economic crisis theories and reveals why commentaries are often contradictory. First, it presents a series of episodes from tulip mania in the 17th century to the subprime mortgage meltdown. In order to tease out their commonalities and differences, it describes political, economic, and social backgrounds, identifies the primary actors and institutions, and explores the mechanisms behind the asset price bubbles, crashes, and bank-runs. Second, it starts with basic economic concepts and builds five competing theoretical approaches to understanding financial crises. Competing theoretical standpoints offer different interpretations of the same event, and draw dissimilar policy implications. This book analyses divergent interpretations of the historical record in relation to how markets function, the significance of market imperfections, economic decision-making process, the role of the government, and evolutionary dynamics of the capitalist system. Its diverse theoretical and historical content of this book complements economics, history and political science curriculum.
This Time Is Different
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Author : Carmen M. Reinhart
language : en
Publisher: Princeton University Press
Release Date : 2011-08-07
This Time Is Different written by Carmen M. Reinhart and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-08-07 with Business & Economics categories.
An empirical investigation of financial crises during the last 800 years.