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Ethical Foundations of Financial Regulation
Kane, Edward J. - 1997
and efficiency across society as a whole. Agency-cost theory recognizes that incentive conflicts and coordination problems … one sector of society at the expense of another. Each rationale sets different goals and assigns responsibiliy for …
Persistent link: https://www.econbiz.de/10012472798
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International Aspects of the Great Depression and the Crisis of 2007 : Similarities, Differences, and Lessons
Grossman, Richard S. - 2010
-slump macroeconomic cycles. During both crises, world trade collapsed faster than world incomes and the trade decline was highly … trade costs hitting international supply chains. So far, the global economy has avoided the global trade wars and banking … collapses of the Depression perhaps due to improved policy. Even so, the global economy remains susceptible to large shocks due …
Persistent link: https://www.econbiz.de/10012462356
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This Time is Different Chartbook : Country Histories on Debt, Default, and Financial Crises
Reinhart, Carmen M. - 2010
cycles, banking and sovereign debt crises, hyperinflation, and, for the post World War II period, the reliance on IMF …
Persistent link: https://www.econbiz.de/10012462835
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From Financial Crash to Debt Crisis
Reinhart, Carmen M. - 2010
analysis is on three related hypotheses tested with both "world" aggregate levels and on an individual country basis. First …
Persistent link: https://www.econbiz.de/10012462855
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Foreign Currency Debt, Financial Crises and Economic Growth : A Long Run View
Bordo, Michael D. - 2009
Foreign currency debt is widely believed to increase risks of financial crisis, especially after being implicated as a cause of the East Asian crisis in the late 1990s. In this paper, we study the effects of foreign currency debt on currency and debt crises and its indirect short and long run...
Persistent link: https://www.econbiz.de/10012463115
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Credit Booms Gone Bust : Monetary Policy, Leverage Cycles and Financial Crises, 1870-2008
Schularick, Moritz - 2009
The crisis of the advanced economies in 2008-09 has focused new attention on money and credit fluctuations, financial crises, and policy responses. We study the behavior of money, credit, and macroeconomic indicators over the long run based on a new historical dataset for 14 countries over the...
Persistent link: https://www.econbiz.de/10012463137
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Credit Crises, Money and Contractions : an historical view
Bordo, Michael D. - 2009
The relatively infrequent nature of major credit distress events makes an historical approach particularly useful. Using a combination of historical narrative and econometric techniques, we identify major periods of credit distress from 1875 to 2007, examine the extent to which credit distress...
Persistent link: https://www.econbiz.de/10012463261
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The Aftermath of Financial Crises
Reinhart, Carmen M. - 2009
major post-World War II episodes. The main cause of debt explosions is usually not the widely cited costs of bailing out and …
Persistent link: https://www.econbiz.de/10012463993
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This Time is Different : A Panoramic View of Eight Centuries of Financial Crises
Reinhart, Carmen M. - 2008
This paper offers a "panoramic" analysis of the history of financial crises dating from England's fourteenth-century default to the current United States sub-prime financial crisis. Our study is based on a new dataset that spans all regions. It incorporates a number of important credit episodes...
Persistent link: https://www.econbiz.de/10012464765
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Fiscal and Financial Crises
Bordo, Michael D. - 2016
Interconnections between banking crises and fiscal crises have a long history. We document the long-run evolution from classic banking panics towards modern banking crises where financial guarantees are associated with crisis resolution. Recent crises feature a feedback loop between bank...
Persistent link: https://www.econbiz.de/10012456615