Understanding financial crises /
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| Author / Creator: | Allen, Franklin, 1956- |
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| Imprint: | Oxford : Oxford University Press, 2007. |
| Description: | 1 online resource ( x, 303 pages) : illustrations |
| Language: | English |
| Series: | Clarendon lectures in finance Clarendon lectures in finance. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12623843 |
| Summary: | 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. |
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| Physical Description: | 1 online resource ( x, 303 pages) : illustrations |
| Format: | Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |
| Bibliography: | Includes bibliographical references and index. |
| ISBN: | 9780191530722 0191530727 019925141X 9780199251414 9786611145477 6611145478 9781429491778 1429491779 1281145475 9781281145475 |
