Download or read book La liquidit internationale dans les crises written by Jean-Pierre Allegret and published by . This book was released on 1991 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: L'objet de la these est l'etude de la liquidite internatonale dans les crises : comprendre les raisons et la signification de l'abondance des liquidites dans ces crises et ses implications sur leur deroulement. Il apparait que l'evolution de la liquidite internationale s'integre a la crise structurelle du proces d'accumulation. En effet, elle est dans le meme mouvement une manifestation de cette crise (premiere partie) et un element destabilisateur fondamental des economies nationales (seconde partie). L'etude est effectuee sur deux periodes : la crise de l'entre-deux-guerres (1922-1938) et la crise ouverte en 1967. Deux dynamiques apparaissent dans les crises au coeur desquelles se situent l'economie internationalement dominante : une dynamique de la liquidite internationale et une dynamique des balances des paiements. L'activation des liquidites par l'endettement international et la financiarisation des economies intensifie les tensions deflationnistes.
Download or read book La gestion des crises de liquidit internationale written by and published by . This book was released on 2000 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: On analyse les stratégies de gestion des crises financières en opposant deux logiques d'action : le prêteur en dernier ressort, qui restaure l'ordre des marchés sans suspendre les transactions, et la règle de faillite qui sort du marché l'agent défaillant et recoordonne ses créanciers par la négociation. Dans la première partie, ces deux logiques sont comparées à travers leurs enjeux opposés en termes de propriété et de contrats privés, ainsi que d'information. On montre que ces variables les insèrent dans des contraintes d'économie politique opposées, dont témoigne notamment la lente stabilisation des lois de faillites, au XIX° siècle. La seconde partie analyse dans ces termes les règles de renégociation des dettes souveraines développées au cours des années 1980. L'analyse porte en particulier sur le concept central de conditionnalité et sur les formes d'action collective dans lesquelles elle prend place. Le déclin de ce régime international au cours des années 1990 est rapporté à un double mouvement de gonflement du contenu de la conditionnalité et d'appauvrissement de la capacité de gouvernance dont elle était porteuse. La troisième partie confronte ce constat avec les formes nouvelles de gestion des crises financières relevant du prêteur en dernier ressort : apparues depuis la crise mexicaine de 1995, elles ont pris une place de premier plan au cours de la crise internationale de 1997-1998. On analyse comme un symptôme de ces évolutions, et des dangers qu'elles comportent, la doctrine d'emploi définie par le FMI lors de la création, en 1999, de la Ligne de Crédit Contingente. On conclue que l'effort pour une meilleure régulation des crises internationales devrait reposer sur des méthodes relevant de la logique de faillite, et donc de la suspension provisoire des marchés, plutôt que sur la défense à tout prix de la continuité des transactions.
Download or read book La gestion des crises de liquidit internationale written by Centre d'études prospectives et d'informations internationales (France) and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Crises Liquidity and the International Monetary System written by Jean Tirole and published by Princeton University Press. This book was released on 2002-07-21 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tirole analyzes the current views on financial crises and on the reform of the international financial architecture. Based on the Paolo Baffi Lecture the author delivered at the Bank of Italy, this refreshingly accessible book is teeming with rich insights that researchers, policy makers, and students at all levels will find indispensable.
Download or read book International Liquidity and the Financial Crisis written by William A. Allen and published by Cambridge University Press. This book was released on 2013-01-03 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the ongoing financial crisis, policy makers have for the most part appeared to be reactive, formulating emergency solutions as events unfold. However, in contrast to their performance during the Great Depression, central banks around the world, led by the Federal Reserve, acted decisively following the collapse of Lehman Brothers and provided huge injections of liquidity into the financial markets, thereby preventing a far worse outcome. International Liquidity and the Financial Crisis compares the 2008 crisis with the disaster of 1931 and explores the similarities and differences. It considers the lasting effects of the crisis on international liquidity, the possibilities for an international lender of last resort, and the enlargement of the International Monetary Fund after the crisis. It shows that there is no clear demarcation between monetary and macro-prudential policies, and discusses how central banks need to adapt to a new environment in which global liquidity is much scarcer.
Download or read book Liquidity and Crises written by Franklin Allen and published by Oxford University Press, USA. This book was released on 2011-02-03 with total page 719 pages. Available in PDF, EPUB and Kindle. Book excerpt: One important cause of the 2007-2009 crisis was illiquidity combined with exposure of many financial institutions to liquidity needs. But what is liquidity and why is it so important for financial institutions to command enough liquidity? This book brings together classic articles and recent contributions to this important field.
Download or read book Financial Crises Explanations Types and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
Download or read book Liquidity and Crises written by Franklin Allen and published by Oxford University Press. This book was released on 2010-11-30 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial crises have been pervasive for many years. Their frequency in recent decades has been double that of the Bretton Woods Period (1945-1971) and the Gold Standard Era (1880-1993), comparable only to the period during the Great Depression. Nevertheless, the financial crisis that started in the summer of 2007 came as a great surprise to most people. What initially was seen as difficulties in the U.S. subprime mortgage market, rapidly escalated and spilled over first to financial markets and then to the real economy. The crisis changed the financial landscape worldwide and its full costs are yet to be evaluated. One important reason for the global impact of the 2007-2009 financial crisis was massive illiquidity in combination with an extreme exposure of many financial institutions to liquidity needs and market conditions. As a consequence, many financial instruments could not be traded anymore, investors ran on a variety of financial institutions particularly in wholesale markets, financial institutions and industrial firms started to sell assets at fire sale prices to raise cash, and central banks all over the world injected huge amounts of liquidity into financial systems. But what is liquidity and why is it so important for firms and financial institutions to command enough liquidity? This book brings together classic articles and recent contributions to this important field of research. It provides comprehensive coverage of the role of liquidity in financial crises and is divided into five parts: (i) liquidity and interbank markets; (ii) the public provision of liquidity and regulation; (iii) money, liquidity and asset prices; (iv) contagion effects; (v) financial crises and currency crises.
Download or read book Le March P trolier International Dix Ans Apr s la Crise de 1973 written by Antoine Ayoub and published by Presses Université Laval. This book was released on 1984 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International Liquidity written by Bent Hansen and published by . This book was released on 1962 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Market Liquidity written by Yakov Amihud and published by Cambridge University Press. This book was released on 2013 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the effect of liquidity on asset prices, liquidity variations over time and how liquidity risk affects prices.
Download or read book Bank Liquidity Creation and Financial Crises written by Allen N. Berger and published by Academic Press. This book was released on 2015-11-24 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bank Liquidity Creation and Financial Crises delivers a consistent, logical presentation of bank liquidity creation and addresses questions of research and policy interest that can be easily understood by readers with no advanced or specialized industry knowledge. Authors Allen Berger and Christa Bouwman examine ways to measure bank liquidity creation, how much liquidity banks create in different countries, the effects of monetary policy (including interest rate policy, lender of last resort, and quantitative easing), the effects of capital, the effects of regulatory interventions, the effects of bailouts, and much more. They also analyze bank liquidity creation in the US over the past three decades during both normal times and financial crises. Narrowing the gap between the "academic world" (focused on theories) and the "practitioner world" (dedicated to solving real-world problems), this book is a helpful new tool for evaluating a bank's performance over time and comparing it to its peer group. - Explains that bank liquidity creation is a more comprehensive measure of a bank's output than traditional measures and can also be used to measure bank liquidity - Describes how high levels of bank liquidity creation may cause or predict future financial crises - Addresses questions of research and policy interest related to bank liquidity creation around the world and provides links to websites with data and other materials to address these questions - Includes such hot-button topics as the effects of monetary policy (including interest rate policy, lender of last resort, and quantitative easing), the effects of capital, the effects of regulatory interventions, and the effects of bailouts
Download or read book Information Liquidity and Risk in the International Interbank Market written by Henri Bernard and published by . This book was released on 2000 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Anatomy of an International Monetary Regime written by Giulio M. Gallarotti and published by Oxford University Press. This book was released on 1995-03-16 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: Widely considered the crowning achievement in the history of international monetary relations, the classical gold standard (1880-1914) has long been treated like a holy relic. Its veneration, however, has done more to obscure than to reveal the actual nature of the era's monetary system. In The Anatomy of an International Monetary Regime, Giulio M. Gallarotti addresses the nature of the classical gold standard in its international context, offering the first comprehensive and systematic treatment of the subject. Three fundamental questions are essential to the discussion: How did the regime originate? How did it work? Why did it persist? Gallarotti uses an interdisciplinary approach that draws upon politics, economics, and ideology to explain the answers. He challenges traditional assumptions about the period, arguing that cooperation among nations or central banks was not a principal factor in either the origin or stability of the system, and that neither the British state nor the Bank of England were the leaders or managers of the gold standard. Rather, a decentralized process involving the status of gold, industrialization and economic development, the politics of gold, and liberal economic ideology provided converging incentives for starting and maintaining the system. Gallarotti's study presents the most comprehensive and interdisciplinary examination available of the nature of monetary relations in the four decades before World War I. His important, revisionist view will alter the way we think about a crucial period in the growth of the international monetary system. It will be essential reading for scholars and students of economic history and policy.
Download or read book International Bank Crisis Management written by Marco Bodellini and published by Bloomsbury Publishing. This book was released on 2022-08-25 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the legal regimes governing bank crisis management in the EU, UK, and US, discussing the different procedures and tools available as well as the regulatory architecture and the authorities involved. Building on a broad working definition of 'bank crisis management' and referring to several cases, the book explores the techniques and approaches employed by the authorities to deal with troubled banks on both sides of the Atlantic. The legal analysis distinguishes between procedures and tools aimed at liquidating the bank in crisis vis-à-vis those aimed at restructuring. In this regard, attention is paid to the rules allowing for the use of public money in handling banks in trouble as well as to the role that deposit insurance schemes can play. Considerations on the impact on banks of the current crisis provoked by the COVID-19 pandemic are advanced, primarily focusing on the expected surge of non-performing loans as well as on ways to effectively manage these assets. The book approaches these issues from a comparative law perspective, providing law and economics considerations and focusing on strengths and drawbacks of the rules currently in force. The book advances policy considerations as well as reform proposals aiming at enhancing the legal regimes in force, with particular reference to the Consultation promoted in 2021 by the European Commission on the adoption of a new bank crisis management and deposit insurance framework in the Union.
Download or read book Financial Crises written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2014-02-19 with total page 754 pages. Available in PDF, EPUB and Kindle. Book excerpt: The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries, are discussed.
