We begins with a summary of the current debate on sovereign debt restructuring, including the idea of inserting collective action clauses (CACs) into sovereign bond contracts and the IMF’s proposal for a Sovereign Debt Restructuring Mechanism (SDRM). We compare these two proposals in a context where problems of creditor coordination interact with those of debtor incentives – “debtor moral hazar...

The recent banking crises have made it clear that increasingly complex strategies for managing risk in individual banks have not been matched by corresponding attention to overall systemic risks. We explore some simple mathematical caricatures for 'banking ecosystems', with emphasis on the interplay between the characteristics of individual banks (capital reserves in relation to total assets, e...

BACKGROUND Social network processes impact on the genesis and management of mental health problems. There is currently less understanding of the way people negotiate networked relationships in times of crisis compared to how they manage at other times. OBJECTIVE This paper explores the patterns and nature of personal network involvement at times of crises and how these may differ from day-to-...

Crises demand swift and effective decision making. Yet crises entail unique characteristics that hinder training of personnel with the process knowledge necessary to achieve these two goals. First, crises are, by definition, rare; thus, it is usually not possible for humans to acquire decision-making expertise directly through experience in natural settings. Second, managing crises often involv...

There are those who regard this type of enterprise that of strengthening the regime for managing financial failures as misdirected. Some think focusing on bank resolution is like devoting resources to redesigning the morgue rather than improving the hospital. Some think that by preparing to deal with crises you make them more likely. I think the wiser judgment is the contrary. In this area at l...

The impact of crises on organizations has been stronger than ever. This article explores the role of organizational learning in crisis management, an area that has received little attention from HRD community. Recognizing the dynamics and interconnectedness of crisis management, organizational learning, and organizational change, the article proposes an integrated model of managing crisis throu...

We outline a vision for an ambitious program to understand the economy and financial markets as a complex evolving system of coupled networks of interacting agents. This is a completely different vision from that currently used in most economic models. This view implies new challenges and opportunities for policy and managing economic crises. The dynamics of such models inherently involve sudde...

A complex challenge facing those involved in crisis management relates to how to manage cascading effects in crisis situations. This paper provides a practice-based insight into the use of General Morphological Analysis (GMA), a non-quantified modelling method that can enable a shared understanding of the various interdependencies involved in cascading crises, by creating a conceptual model of ...