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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 recent 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.

Product Identifiers

PublisherOxford University Press, Incorporated

ISBN-100199251428

ISBN-139780199251421

eBay Product ID (ePID)72409812

Product Key Features

Number of Pages320 Pages

LanguageEnglish

Publication NameUnderstanding Financial Crises

Publication Year2009

SubjectEconomic History, Economics / General, Corporate Finance / General

TypeTextbook

Subject AreaBusiness & Economics

AuthorDouglas Gale, Franklin Allen

SeriesClarendon Lectures in Finance Ser.

FormatTrade Paperback

Dimensions

Item Height0.7 in

Item Weight18.5 Oz

Item Length9.2 in

Item Width6.1 in

Additional Product Features

Intended AudienceScholarly & Professional

Dewey Edition22

ReviewsReview from previous edition: "Allen and Gale have been at the frontier of theoretical thinking about crises for over a decade ... a one-stop-shop for the many important contributions made to the theoretical modelling of financial crises by these two prominent authors" --Central Banking Vol 18 No 1, "This is, for me, the book's real selling point: it is accessible to a graduate level audience - indeed, would make an excellent lecture series - but at the same time easily contains enough state-of-the-art modelling to be of interest to the academic or policymaker." --Andrew G. Haldane, 'This is, for me, the book's real selling point: it is accessible to a graduate level audience - indeed, would make an excellent lecture series - but at the same time easily contains enough state-of-the-art modelling to be of interest to the academic or policymaker.'Andrew G. Haldane, 'Review from previous edition Allen and Gale have been at the frontier of theoretical thinking about crises for over a decade ... a one-stop-shop for the many important contributions made to the theoretical modelling of financial crises by these two prominent authors 'Central Banking Vol 18 No 1'This is, for me, the book's real selling point: it is accessible to a graduate level audience - indeed, would make an excellent lecture series - but at the same time easily contains enough state-of-the-art modelling to be of interest to the academic or policymaker. 'Andrew G. Haldane

IllustratedYes

Dewey Decimal338.542

Lc Classification NumberHb3722

Table of Content1. History and institutions2. Time, uncertainty and liquidity3. Intermediation4. Asset markets5. Financial fragility6. Intermediation and markets7. Optimal regulation8. Money and the prices9. Bubbles and crises10. Contagion

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Clarendon Lectures in Finance Ser.: Understanding Financial Crises by Douglas Gale and Franklin Allen (2009, Trade Paperback)