Financial crises explanations, types, and implications

MS Claessens, MA Kose - 2013 - books.google.com
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 …

Identifying the global transmission of the 2007–2009 financial crisis in a GVAR model

A Chudik, M Fratzscher - European Economic Review, 2011 - Elsevier
The paper analyses and compares the role that the tightening in liquidity conditions and the
collapse in risk appetite played for the global transmission of the financial crisis. Dealing …

[BOOK][B] Animal spirits: How human psychology drives the economy, and why it matters for global capitalism

GA Akerlof, RJ Shiller - 2010 - degruyter.com
The global financial crisis has made it painfully clear that powerful psychological forces are
imperiling the wealth of nations today. From blind faith in ever-rising housing prices to …

Hazardous times for monetary policy: What do twenty‐three million bank loans say about the effects of monetary policy on credit risk‐taking?

G Jiménez, S Ongena, JL Peydró, J Saurina - Econometrica, 2014 - Wiley Online Library
We identify the effects of monetary policy on credit risk‐taking with an exhaustive credit
register of loan applications and contracts. We separate the changes in the composition of …

Capital flows, push versus pull factors and the global financial crisis

M Fratzscher - Journal of International Economics, 2012 - Elsevier
The causes of the 2008 collapse and subsequent surge in global capital flows remain an
open and highly controversial issue. Employing a factor model coupled with a dataset of …

Bank risk-taking, securitization, supervision, and low interest rates: Evidence from the Euro-area and the US lending standards

A Maddaloni, JL Peydró - the review of financial studies, 2011 - academic.oup.com
Using a unique dataset of the Euro-area and the US bank lending standards, we find that
low (monetary policy) short-term interest rates soften standards for household and corporate …

What happens during recessions, crunches and busts?

S Claessens, MA Kose, ME Terrones - Economic Policy, 2009 - academic.oup.com
We provide a comprehensive empirical characterization of the linkages between key
macroeconomic and financial variables around business and financial cycles, for 21 OECD …

Cross-country experiences and policy implications from the global financial crisis

S Claessens, G Dell'Ariccia, D Igan, L Laeven - Economic policy, 2010 - academic.oup.com
Abstract The financial crisis of 2007--2008 is rooted in a number of factors, some common to
previous financial crises, others new. Analysis of post-crisis macroeconomic and financial …

Monetary policy, risk-taking, and pricing: Evidence from a quasi-natural experiment

V Ioannidou, S Ongena, JL Peydró - Review of Finance, 2015 - academic.oup.com
We study the risk-taking channel of monetary policy in Bolivia, a dollarized country where
monetary changes are transmitted exogenously from the USA. We find that a lower policy …

[BOOK][B] The regulatory responses to the global financial crisis: Some uncomfortable questions

MS Claessens, MLE Kodres - 2014 - books.google.com
We identify current challenges for creating stable, yet efficient financial systems using
lessons from recent and past crises. Reforms need to start from three tenets: adopting a …