Financial Crisis

by Allen, Franklin; Gale, Douglas

• ISBN13: 9781843764243
• ISBN10: 1843764245
• Format: Hardcover
• Copyright: 2008-04-08
• Publisher: Edward Elgar Pub

Table of Contents

Introduction
Crises in Historical Perspective
Is the Crisis Problem Growing More Severe?	p. 3
Banking Panics and Business Cycles	p. 33
Fundamentals, Panics, and Bank Distress During the Depression	p. 64
Empirical Studies of Crises
The Real Output Losses Associated with Modern Banking Crises	p. 99
The Twin Crises: The Causes of Banking and Balance-of-Payments Problems	p. 122
The Unholy Trinity of Financial Contagion	p. 150
Banking Crises
A Model of Reserves, Bank Runs, and Deposit Insurance	p. 177
Bank Runs, Deposit Insurance, and Liquidity	p. 187
The Role of Demandable Debt in Structuring Optimal Banking Arrangements	p. 206
Optimal Financial Crises	p. 233
Financial Intermediaries and Markets	p. 273
Coordination Failures and the Lender of Last Resort: Was Bagehot Right after All?	p. 312
Demand-Deposit Contracts and the Probability of Bank Runs	p. 344
Bubbles and Crises	p. 379
Money in a Theory of Banking	p. 399
Currency Crises
A Model of Balance-of-Payments Crises	p. 425
Gold Monetization and Gold Discipline	p. 440
Models of Currency Crises with Self-Fulfilling Features	p. 458
Unique Equilibrium in a Model of Self-Fulfilling Currency Attacks	p. 469
A Model of Financial Crises in Emerging Markets	p. 480
Financial Contagion
Financial Contagion	p. 511
A Rational Expectations Model of Financial Contagion	p. 544
Name Index	p. 575
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