منابع مشابه
Capital Flows and Financial Crises
This paper suggests, first, that a simple theoretical framework is useful in explaining financial crises in emerging economies. Second, it reviews the East Asian financial crises of 1997-98 . Third, the paper examines the origins of Argentina’s crisis of 2001-02. Fourth, it presents a comparative analysis of both crises, highlighting their similarities and differences. Finally, the conclusions ...
متن کاملBanks , Capital Flows and Financial Crises
This paper proposes a macroeconomic model with financial intermediaries (banks), in which banks face occasionally binding leverage constraints and may endogenously affect the strength of their balance sheets by issuing new equity. The model can account for occasional financial crises as a result of the nonlinearity induced by the constraint. Banks’ precautionary equity issuance makes financial ...
متن کاملA Model of Capital and Crises
We develop a model in which the capital of the intermediary sector plays a critical role in determining asset prices. The model is cast within a dynamic general equilibrium economy, and the role for intermediation is derived endogenously based on optimal contracting considerations. Low intermediary capital reduces the risk-bearing capacity of the marginal investor. We show how this force helps ...
متن کاملCapitalist crises, social capital and well-being
Alleviating poverty is among the most laudable aim of the Millennium Development Goals. However, policies aimed at alleviating poverty could only be successful if they are underpinned by clear understanding of mechanisms which contribute to poverty incidences and distributions. This study seeks to investigate the effect of major capitalist crises, such as the Asian financial crisis on health di...
متن کاملFinancial Crises and Political Crises∗
The simultaneous determination of financial default and political crises is studied in an open economy model. Political crises accompany default in equilibrium because of an information transmission conflict between the government and the public. Multiple equilibria are possible: if foreign lenders are pessimistic about the country’s stability, they demand a high interest on the debt, exacerbat...
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ژورنال
عنوان ژورنال: Theory in Action
سال: 2019
ISSN: 1937-0237
DOI: 10.3798/tia.1937-0237.1924