Download
1 / 28
280 likes | 296 Views
This book provides a comprehensive analysis of financial crises, explaining their causes, types, and implications. It offers insights into the identification, dating, and frequency of crises, as well as their real and financial effects. The book also explores measures to prevent and mitigate financial crises.
E N D
貨幣理論與政策（二） 許振明 台灣大學經濟學系 2015.02.24
Contents Foreword vii Acknowledgments xi Introduction xiii Contributors xxvii Abbreviations xxxi PART I INTRODUCTION AND DESCRIPTION OF FINANCIAL CRISES ...........1 1 Financial Crises: Explanations, Types, and Implications ...................................3 Stijn Claessens and M. Ayhan Kose 2 Systemic Banking Crises .......................................................................................... 61 Luc Laeven and Fabian Valencia PART II LESSONS IN CRISIS PREVENTION AND MANAGEMENT ................139 3 Financial and Sovereign Debt Crises: SomeLessons Learned and Those Forgotten ...............141 Carmen M. Reinhart and Kenneth S. Rogoff 4 Procyclicality and the Search for Early Warning Indicators ......................157 Hyun Song Shin 5 Resilience in Latin America: Lessons from MacroeconomicManagement and Financial Policies.....173 Jose De Gregorio 6 External Imbalances and Financial Crises .........................................................193 Alan M. Taylor PART III SHORT-TERM EFFECTS: CRISES, RECESSIONS, ANDRECOVERIES........207 7 The Global Financial Crisis: How Similar?How Different? How Costly?....................209 Stijn Claessens, M. Ayhan Kose, and Marco E. Terrones 3
8 From Recession to Recovery: How Soon and How Strong? ......................239 Prakash Kannan, Alasdair Scott, and Marco E. Terrones PART IV MEDIUM-TERM EFFECTS: ECONOMIC GROWTH ..............................275 9 What’s the Damage? Medium-Term Output Dynamicsafter Financial Crises...........277 Abdul Abiad, Ravi Balakrishnan, Petya Koeva Brooks,Daniel Leigh, and Irina Tytell 10 What Have We Learned about Creditless Recoveries? .................................309 Abdul Abiad, Giovanni Dell’Ariccia, and Bin Li PART V POLICY MEASURES TO PREVENT BOOMS, MITIGATE BUSTS, AND AVOID FINANCIAL CRISES ..............................................................323 11 Policies for Macro-Financial Stability: Dealing withCredit Booms and Busts.............325 Giovanni Dell’Ariccia, Deniz Igan, Luc Laeven, and Hui Tong 12 Policies for Macro-Financial Stability: Managing RealEstate Booms and Busts...............365 Christopher Crowe, Giovanni Dell’Ariccia, Deniz Igan, and Pau Rabanal 13 Resolution of Banking Crises: The Good, the Bad, and the Ugly..............397 Luc Laeven and Fabian Valencia 14 How Effective Is Fiscal Policy Response in Financial Crises? ......................431 Emanuele Baldacci, Sanjeev Gupta, and Carlos Mulas-Granados PART VI POLICY MEASURES TO MITIGATE THE IMPACT OF FINANCIALCRISES; AND THE RESTRUCTURING OF BANKS AND OFHOUSEHOLD AND SOVEREIGN DEBT...........459 15 Crisis Management and Resolution: Early Lessons fromthe 2007–09 Financial Crisis................461 Stijn Claessens, Ceyla Pazarbasioglu, Luc Laeven, Marc Dobler, FabianValencia, Oana Nedelescu, and Katharine Seal 16 The Economics of Bank Restructuring: Understandingthe Options...................489 Augustin Landier and Kenichi Ueda 17 Principles of Household Debt Restructuring ..................................................527 Luc Laeven and Thomas Laryea 4
18 Dealing with Household Debt ..............................................................................547 Deniz Igan, Daniel Leigh, John Simon, and Petia Topalova 19 Restructuring Sovereign Debt: Lessons from Recent History ...................593 Udaibir S. Das, Michael G. Papaioannou, and Christoph Trebesch Index ...........................................................................................................................................621 5
Chapter1 Financial Crises: Explanations, Types, and Implications I. EXPLAINING FINANCIAL CRISES 1. Asset Price Booms and Busts 2. What Explains Asset Price Bubbles? 3. What Triggers Asset Price Busts? 4. Credit Booms and Busts 5. What Macroeconomic Factors Explain Credit Booms? 6. What Structural Factors Explain Credit Booms? 7. Impact of Asset Price and Credit Busts 6
II. TYPES OF FINANCIAL CRISES 1. Currency Crises 2. Sudden Stops 3. Foreign and Domestic Debt Crises 4. Banking Crises 5. Bank Runs and Banking Crises 6. History of Bank Runs 7. Deeper Causes of Banking Crises 7
III. IDENTIFICATION, DATING, AND FREQUENCY OF CRISES 1. Identification and Dating 2. Frequency and Distribution IV. REAL AND FINANCIAL IMPLICATIONS OF CRISES 1. Real Effects of Crises 2. Financial Effects of Crises 8
V. PREDICTING FINANCIAL CRISES VI. CONCLUSION 1. Is This Time Really Different? 2. How Can Financial Crises Be Prevented? 3. How Can the Costs of Financial Crises Be Mitigated? 4. What Additional Data and Methods Are Needed? 9
REFERENCES 10
