derrierloisirs.fr
» » Liquidity and Crises

Download Liquidity and Crises ePub

by Franklin Allen,Elena Carletti,Jan Pieter Krahnen,Marcel Tyrell

Download Liquidity and Crises ePub

Financial crises have been pervasive for many years. Their frequency in recent decades has been double that of the Bretton Woods Period (1945-1971) and the Gold Standard Era (1880-1993), comparable only to the period during the Great Depression. Nevertheless, the financial crisis that started in the summer of 2007 came as a great surprise to most people. What initially was seen as difficulties in the U.S. subprime mortgage market, rapidly escalated and spilled over first to financial markets and then to the real economy. The crisis changed the financial landscape worldwide and its full costs are yet to be evaluated.One important reason for the global impact of the 2007-2009 financial crisis was massive illiquidity in combination with an extreme exposure of many financial institutions to liquidity needs and market conditions. As a consequence, many financial instruments could not be traded anymore, investors ran on a variety of financial institutions particularly in wholesale markets, financial institutions and industrial firms started to sell assets at fire sale prices to raise cash, and central banks all over the world injected huge amounts of liquidity into financial systems. But what is liquidity and why is it so important for firms and financial institutions to command enough liquidity? This book brings together classic articles and recent contributions to this important field of research. It provides comprehensive coverage of the role of liquidity in financial crises and is divided into five parts: (i) liquidity and interbank markets; (ii) the public provision of liquidity and regulation; (iii) money, liquidity and asset prices; (iv) contagion effects; (v) financial crises and currency crises.

Authors and affiliations. First Online: 29 September 2011.

Authors and affiliations.

An Introduction to Liquidity and Crises Franklin Allen, Elena Carletti, Jan Pieter Krahnen, and Marcel Tyrell Section 1: Liquidity and Interbank Markets . Preference Shocks, Liquidity and Central Bank Policy Sudipto Gale (London School of Economics/New York University) W. Barnett and K. Singleton, ed. New Approaches to Monetary Economics, Cambridge University Press, 1987, pp. 69-88. Goethe-Universitat Frankfurt and CFS) Journal of Monetary Economics, 2008, 53, 89-111.

Allen, et a. s (2011) handbook makes a valuable contribution in bringing together a set of formal models of liquidity and crises . The seven-hundred-page volume contains twenty-five academic articles on liquidity and crises, predominantly of a theoretical nature

Allen, et a. s (2011) handbook makes a valuable contribution in bringing together a set of formal models of liquidity and crises at a time when press coverage. The seven-hundred-page volume contains twenty-five academic articles on liquidity and crises, predominantly of a theoretical nature. These are reprints of papers published for the most part between 1998 and 2008 in top journals, with an opening chapter that provides an exhaustive summary of the main results and related literature.

Alexander Kohler, 2011. Handle: RePEc:kap:fmktpm:v:25:y:2011:i:4:p:473-475 DOI: 1. 7.

Franklin Allen, Elena Carletti, Jan Pieter Krahnen, and Marcel Tyrell. Financial crises have occurred for hundreds of years. However, the fact that they often appear without warning is something that most people have apparently forgotten in the recent past. Hence the financial crisis that started in the summer of 2007 came as a surprise to many observers. in particular, it was astonishing to see that a breakdown in just one part of the housing market, . the us subprime mortgage market, did lead to a systemic crisis that escalated and spilled over to financial markets all over the world.

Franklin Allen, Elena Carletti, Jan Pieter Krahnen, and Marcel Tyrell: Liquidity and Crises. These are reprints of papers. December 2011 · Financial Markets and Portfolio Management. published for the most part between 1998 and 2008 in top journals, with an opening chapter that provides an exhaustive summary of the main results and related literature.

Franklin ALLEN, Elena CARLETTI, Jan Pieter KRAHNEN and Marcel TYRELL (eds), Liquidity and crises, New York ; Oxford : Oxford University Press, 2011, pp. 3-32.

Franklin Allen is the Nippon Life Professor of Finance and Professor of Economics at the Wharton School of the University of Pennsylvania.

ISBN-13: 978-0195390711. Franklin Allen is the Nippon Life Professor of Finance and Professor of Economics at the Wharton School of the University of Pennsylvania. He has been on the faculty since 1980. He is currently Co-Director of the Wharton Financial Institutions Center. He is a past President of the American Finance Association. Elena Carletti is Professor of Economics at the European University Institute and Joint Chair of the Economics Department and Robert Schuman Center for Advanced Studies.

Liquidity and Crises. Franklin Allen, Elena Carletti, Jan Pieter Krahnen, Marcel Tyrell. Financial crises have been pervasive for many years. Their frequency in recent decades has been double that of the Bretton Woods Period (1945-1971) and the Gold Standard Era (1880-1993), comparabl. More).

Elena Carletti is Professor of Economics at the European University Institute and Joint Chair of the Economics . 2. Liquidity and Crises. Published by Oxford University Press, USA (2011).

Elena Carletti is Professor of Economics at the European University Institute and Joint Chair of the Economics Department and Robert Schuman Center for Advanced Studies. Jan Pieter Krahnen is Chair of Corporate Finance at Johann Wolfgang Goethe-University Frankfurt. Marcel Tyrell is Professor of Entrepreneurship & Finance at Zeppelin University, Friedrichshafen. ISBN 10: 0195390709 ISBN 13: 9780195390704.

Related to Liquidity and Crises