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

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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)87905048

Product Key Features

Number of Pages320 Pages
Publication NameUnderstanding Financial Crises
LanguageEnglish
SubjectEconomic History, Economics / General, Corporate Finance / General
Publication Year2009
TypeTextbook
AuthorDouglas Gale, Franklin Allen
Subject AreaBusiness & Economics
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
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