Understanding global crises : an emerging paradigm /
Razin, Assaf,author.
This book offers a review of an emerging paradigm that is consistent with the key features of recent global financial crises. This paradigm presents in a transparent way basic analytical elements of the theories of financial and monetary crises and how these elements fit together in macroeconomic analysis of global crises. Razin surveys the credit implosion that led to a severe banking crisis in Japan in the 1990s, the Asian financial crisis that began in 1997, the global meltdown of 2008, and the Euro-zone crisis. He reviews the analytics of financial fragilities, credit frictions, currency crises, and balance of payments crises, and addresses international capital flows with information frictions. --
Description based upon print version of record.
Contents; Preface; Acknowledgments; 1 Introduction; I Recent Financial Crises; 2 The 1990s and Early 2000s; 3 The 2008 Global Crisis; 4 The Crisis in the Euro Zone; II Elements of the Theory of Financial Crises; 5 Analytics of Financial Fragility of Banks; 6 Analytics of Credit Frictions and Market Freezes; 7 Analytics of Asset Bubbles; III Exchange Rates and Capital Flows; 8 Analytics of Currency Crises; 9 Foreign Investment: Information Asymmetry; 10 Foreign Investment: Liquidity Shocks; IV The Emerging Macroeconomic Paradigm; 11 The Benchmark Paradigm
12 Leveraging, De-leveraging, and the Liquidity Trap13 Amplification and Persistency of Shocks in Dynamic Macroeconomic Models; Epilogue; Notes; References; Index
Includes bibliographical references and index.
This book offers a review of an emerging paradigm that is consistent with the key features of recent global financial crises. This paradigm presents in a transparent way basic analytical elements of the theories of financial and monetary crises and how these elements fit together in macroeconomic analysis of global crises. Razin surveys the credit implosion that led to a severe banking crisis in Japan in the 1990s, the Asian financial crisis that began in 1997, the global meltdown of 2008, and the Euro-zone crisis. He reviews the analytics of financial fragilities, credit frictions, currency crises, and balance of payments crises, and addresses international capital flows with information frictions. --
OCLC-licensed vendor bibliographic record.
Financial crises.
Investments, Foreign.
ECONOMICS/Finance
ECONOMICS/Political Economy