A modern guide to financial shocks and crises

"Offering a comprehensive guide to financial shocks and crises, this book explores their increasing occurrence in current market economies, as well as their power to wrench the macroeconomy. It discusses three critical questions: what causes financial shocks; which channels may exacerbate their...

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Bibliographic Details
Other Authors: Ferri, Giovanni (Editor), D'Apice, Vincenzo (Editor)
Format: eBook
Language:English
Published: Northampton Edward Elgar Publishing 2021, 2021
Subjects:
Online Access:
Collection: Edward Elgar eBooks Collection Business & Economics - Collection details see MPG.ReNa
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245 0 0 |a A modern guide to financial shocks and crises  |h Elektronische Ressource  |c edited by Giovanni Ferri, Vincenzo D'Apice (LUMSA University, Italy) 
260 |a Northampton  |b Edward Elgar Publishing  |c 2021, 2021 
300 |a 384 pages 
505 0 |a Includes bibliographical references and index 
505 0 |a Contents: Preface -- Part I: Financial instability after the global financial crisis: Taxonomy and models -- 1. The global financial crisis / Vincenzo D'Apice and Giovanni Ferri -- 2. Minsky's financial instability hypothesis / Maria Nikolaidi -- 3. Financial accelerator framework / Tommaso Oliviero and Giovanni W. Puopolo -- Part II Main channels of transmission of the financial shock -- 4. The role of the household balance sheets / Christophe André -- 5. The European network of cross-border lending / Ornella Ricci and Francesco Saverio Stentella Lopes -- 6. International banks and the transmission of financial shocks / Eugenio Cerutti and Haonan Zhou -- 7. The role of bank ownership types and business models / Giorgio Caselli -- 8. The role of market valuation in financial crises / Paola Bongini and Emanuele Rossi -- Part III The role of public policies -- 9. Reflections on the shifting consensus about monetary and fiscal policies following the gfc and the covid-19 crises / Alex Cukierman -- 10. Fiscal policy lessons since the global financial crisis / Jérémie Cohen-Setton -- 11. The government as lender of last resort and temporary owner / Aneta Hryckiewicz -- 12. The sovereign-bank nexus / Giovanni Ferri and Valerio Pesic -- 13. Financial reforms / Alexandre Garel and Arthur Petit-Romec -- Part IV Learning from past financial crises to prevent future ones -- 14. Looking back: A historical perspective on European crises / Elias Bengtsson -- 15. Looking ahead: Early warning systems / E. Philip Davis and Dilruba Karim -- Index 
653 |a Financial crises 
700 1 |a D'Apice, Vincenzo  |e [editor] 
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520 |a "Offering a comprehensive guide to financial shocks and crises, this book explores their increasing occurrence in current market economies, as well as their power to wrench the macroeconomy. It discusses three critical questions: what causes financial shocks; which channels may exacerbate their impact; and what policies could help avoid them or limit their negative effect on the economy and society at large. Drawing together contributions from top scholars in the field, this Modern Guide addresses both the causes and consequences of financial instability after the Global Financial Crisis (GFC) at both micro and macro levels. Chapters conceptualise financial crises, highlight their main channels of transmission, and explore the role of public policies, looking at how to learn from past financial crises to prevent future ones. The book further examines why financial shocks will be a permanent trait in the future, and the potential impacts of market economics continuing to expand financialisation as they have done over recent decades. This Modern Guide will be a timely resource for economics students and scholars, particularly as it compares the impacts of the GFC and Covid-19 and explores why these are so different. It will also be an important read for policy makers seeking advice on how to manage and avoid financial crises"--