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Complexity and Crisis in the Financial System

Author : Matthew Hollow

Publisher : Edward Elgar Publishing

Page : 356 pages

File Size : 35,76 MB

Release : 2016-01-29

Category : Business & Economics

ISBN : 1783471336

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Book Description

What are the long-term causes and consequences of the global financial crisis of 2007–2008? This book offers a fresh perspective on these issues by bringing together a range of academics from law, history, economics and business to look in more depth at the changing relationships between crises and complexity in the US and UK financial markets. The contributors are motivated by three main questions: • Is the present financial system more complex than in the past and, if so, why? • To what extent, and in what ways, does the worldwide financial crisis of 2007–2008 differ from past financial crises? • How can governments, regulators and businesses better manage and deal with increased levels of complexity both in the present and in the future? Students and scholars of finance, economics, history, financial law, banking and international business will find this book to be of interest. It will also be of use to regulators and policymakers involved in the US and UK banking sectors.





Financial Crises Explanations, Types, and Implications

Author : Mr.Stijn Claessens

Publisher : International Monetary Fund

Page : 66 pages

File Size : 27,18 MB

Release : 2013-01-30

Category : Business & Economics

ISBN : 1475561008

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Book Description

This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.



Financial Crises

Author : Mr.Stijn Claessens

Publisher : International Monetary Fund

Page : 754 pages

File Size : 27,89 MB

Release : 2014-02-19

Category : Business & Economics

ISBN : 1484355261

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Book Description

The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries, are discussed.



All the Devils Are Here

Author : Bethany McLean

Publisher : Penguin

Page : 503 pages

File Size : 20,91 MB

Release : 2011-08-30

Category : Business & Economics

ISBN : 1101551054

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Book Description

Hailed as "the best business book of 2010" (Huffington Post), this New York Times bestseller about the 2008 financial crisis brings the devastation of the Great Recession to life. As soon as the financial crisis erupted, the finger-pointing began. Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers? According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, many devils helped bring hell to the economy. All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature. Just as McLean's The Smartest Guys in the Room was hailed as the best Enron book on a crowded shelf, so will All the Devils Are Here be remembered for finally making sense of the financial meltdown and its consequences.



The End of Theory

Author : Richard Bookstaber

Publisher : Princeton University Press

Page : 236 pages

File Size : 30,13 MB

Release : 2019-04-02

Category : Business & Economics

ISBN : 0691191859

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Book Description

An in-depth look at how to account for the human complexities at the heart of today’s financial system Our economy may have recovered from the Great Recession—but not our economics. The End of Theory discusses why the human condition and the radical uncertainty of our world renders the standard economic model—and the theory behind it—useless for dealing with financial crises. What model should replace it? None. At least not any version we’ve been using for the past two hundred years. Richard Bookstaber argues for a new approach called agent-based economics, one that takes as a starting point the fact that we are humans, not the optimizing automatons that standard economics assumes we are. Sweeping aside the historic failure of twentieth-century economics, The End of Theory offers a novel perspective and more realistic framework to help prevent today's financial system from blowing up again.



The Death of Money

Author : James Rickards

Publisher : Penguin

Page : 386 pages

File Size : 12,92 MB

Release : 2017-04-04

Category : Business & Economics

ISBN : 1591847710

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Book Description

The next financial collapse will resemble nothing in history. . . . Deciding upon the best course to follow will require comprehending a minefield of risks, while poised at a crossroads, pondering the death of the dollar. The U.S. dollar has been the global reserve currency since the end of World War II. If the dollar fails, the entire international monetary system will fail with it. But optimists have always said, in essence, that confidence in the dollar will never truly be shaken, no matter how high our national debt or how dysfunctional our government. In the last few years, however, the risks have become too big to ignore. While Washington is gridlocked, our biggest rivals—China, Russia, and the oil-producing nations of the Middle East—are doing everything possible to end U.S. monetary hegemony. The potential results: Financial warfare. Deflation. Hyperinflation. Market collapse. Chaos. James Rickards, the acclaimed author of Currency Wars, shows why money itself is now at risk and what we can all do to protect ourselves. He explains the power of converting unreliable investments into real wealth: gold, land, fine art, and other long-term stores of value.



Debate the Issues: Complexity and Policy making

Author : Collectif

Publisher : OECD

Page : 116 pages

File Size : 31,52 MB

Release : 2017-06-06

Category : Business & Economics

ISBN : 9264271589

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Book Description

The OECD’s New Approaches to Economic Challenges initiative invited experts from inside and outside the Organisation to discuss complexity theory as a means to better understand the interconnected nature of the trends and influences shaping our socio-economic environment. Their contributions, brought together here, examine the assumptions, strengths and shortcomings of traditional models, and propose a way to build new ones that would take into account factors such as psychology, history and culture neglected by these models. The authors concentrate on the discipline of economics as such; the financial system; and applications of complexity theory to policy making and governance. They argue that a new narrative is needed to integrate the hopes, values, attitudes and behaviours of people into economics along with the facts and data economists are more used to dealing with.



Financial Crises: Types, Causes and Consequences

Author : Shen Wei

Publisher : Nova Science Publishers

Page : 305 pages

File Size : 43,72 MB

Release : 2020-10-09

Category :

ISBN : 9781536185164

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Book Description

While the world is witnessing a new wave of financial slowdown and great recession due to the coronavirus pandemic, the understanding of financial crises has not been complete. The contributors of this book look into financial crises from economic, legal, political science, social science lens with the aim of understanding the types, causes, consequences and impacts of financial crises in a comprehensive way. More importantly, the authors investigate regulatory responses, regulatory effectiveness, regulatory responses by applying a variety of approaches and methodologies through the study of financial, corporate, business, healthcare, capital market, banking sectors. This is a timely contribution to our understanding of financial crises and preparation for the next financial recession on the horizon.



The Money Problem

Author : Morgan Ricks

Publisher : University of Chicago Press

Page : 360 pages

File Size : 29,6 MB

Release : 2016-03-09

Category : Business & Economics

ISBN : 022633046X

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Book Description

An “intriguing plan” addressing shadow banking, regulation, and the continuing quest for financial stability (Financial Times). Years have passed since the world experienced one of the worst financial crises in history, and while countless experts have analyzed it, many central questions remain unanswered. Should money creation be considered a “public” or “private” activity—or both? What do we mean by, and want from, financial stability? What role should regulation play? How would we design our monetary institutions if we could start from scratch? In The Money Problem, Morgan Ricks addresses these questions and more, offering a practical yet elegant blueprint for a modernized system of money and banking—one that, crucially, can be accomplished through incremental changes to the United States’ current system. He brings a critical, missing dimension to the ongoing debates over financial stability policy, arguing that the issue is primarily one of monetary system design. The Money Problem offers a way to mitigate the risk of catastrophic panic in the future, and it will expand the financial reform conversation in the United States and abroad. “Highly recommended.” —Choice