Download or read book Toward a Lender of First Resort written by Daniel Cohen and published by International Monetary Fund. This book was released on 2006 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: If interest rates (country spreads) rise, debt can rapidly be subject to a snowball effect, which becomes self-fulfilling with regard to the fundamentals themselves. This is a market imperfection, because we cannot be confident that the unaided market will choose the "good" over the "bad" equilibrium. We propose a policy intervention to deal with this structural weakness in the mechanisms of international capital flows. This is based on a simple taxonomy that breaks down the origin of crises into three components: confidence (spreads and currency crisis), fundamentals (real growth rate), and economic policy (primary deficit). Theory then suggests a set of circumstances in which a lender of first resort would be desirable. The policy would seek to short-circuit confidence crises, partly by using IMF support to improve ex ante incentives. Theory also illuminates the potential role of collective action clauses in reducing the risk of self-fulfilling debt crises
Download or read book Towards a Lender of First Resort written by Daniel Cohen and published by . This book was released on 2004 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Lender of First Resort Shari ah compliant finance a post crisis outlook written by Maʻn Barāzī and published by . This book was released on 2009 with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Lender of First Resort Anatomy of resilience Banking industry country risk assessment written by Maʻn Barāzī and published by . This book was released on 2009 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book IMF Working Papers written by Daniel Cohen and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Deep Freeze written by Philipp Bagus and published by Ludwig von Mises Institute. This book was released on 2011-04-01 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: It was a modern thriving economy one day, and then, suddenly, the food disappeared from the shelves, the banks closed, and the ships stopped arriving. Iceland in 2008 experienced an unprecedented economic meltdown that struck fear in the hearts of people all over the world. If it could happen here, it could happen anywhere. The economic crisis led to a political crisis, with resignations galore. The whining and wailing about the disaster continues to this day, with most commentators blaming deregulation and the free market. In Deep Freeze, economists Philipp Bagus and David Howden demonstrate that the real cause of the calamity was bad central bank policy. Rates were way too low, banks were too big to fail, housing was implicitly guaranteed, and banks were borrowing short term from abroad to finance long term bonds. The authors discuss the implications of this maturity mismatching and zero in on the central bank policies that encouraged unsound practices. They demonstrate the cause and effect without a shadow of a doubt, using vast amounts of data and a detailed sector-by-sector look at the economy of Iceland. What they find is another instance of the Austrian Theory of the Business Cycle, working itself out in a way that is customized for a time and place. Toby Baxendale writes the introducton to this story that reads like a great novel. It serves as a reminder that central banking policies aren't just about monetary arcana. They affect our lives in profound and sometimes catastrophic ways. The Iceland Freeze is one of the great historical cases that makes Mises’s point. Let it always serve as a reminder of what happens when the laws of the market are papered over by politicians and central bankers. This account is likely to remain the definitive one for many years.
Download or read book The Lender of Last Resort Function after the Global Financial Crisis written by Marc Dobler and published by International Monetary Fund. This book was released on 2016-01-22 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis (GFC) has renewed interest in emergency liquidity support (sometimes referred to as “Lender of Last Resort”) provided by central banks to financial institutions and challenged the traditional way of conducting these operations. Despite a vast literature on the topic, central bank approaches and practices vary considerably. In this paper we focus on, for the most part, the provision of idiosyncratic support, approaching it from an operational perspective; highlighting different approaches adopted by central banks; and also identifying some of the issues that arose during the GFC.
Download or read book The Lender of Last Resort written by Forrest Capie and published by Psychology Press. This book was released on 2007 with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt: The capacity of national central banks to 'step in' and bail out an economy is one which has proved to be vitally important over the years. This collection from Wood and Capie brings together important literature for the first time in book form.
Download or read book Reforming the IMF for the 21st Century written by and published by Peterson Institute. This book was released on 2006 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Winners and Losers in Globalization written by Guillermo de la Dehesa and published by John Wiley & Sons. This book was released on 2008-04-15 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seeking reason in the impassioned globalization debate, de laDehesa examines who stands to win and who stands to lose from theprocess of globalization, in a style accessible to readersunfamiliar with economic theory. Objectively and dispassionately illuminates the emotionallycharged globalization debate; Acknowledges that the costs and benefits of globalization willnot be distributed evenly; Details the economic effects of globalization on individuals,governments, nation-states and business; Assesses the impact of globalization on both labor markets andfinancial markets, on global economic growth and on incomedistribution and real convergence between different nationaleconomies.
Download or read book Nomination of John L Moore Jr written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 1977 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Theory written by Alvaro Cencini and published by Routledge. This book was released on 2002-09-11 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary Theory provides an alternative to monetary economics based on the distinctive properties of money banking. The book: *Analyses money *Shows that the distinction between money and income is rooted in the banking practice *Examines exchange rate instability and financial crisis *Puts forward an alternative proposal for European Monetary Union.
Download or read book Energy Research and Development and Small Business Opportunities and problems facing New England small business in the emerging alternative energy industries written by United States. Congress. Senate. Select Committee on Small Business and published by . This book was released on 1977 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Multinational Corporations and United States Foreign Policy Hearings Ninety third Congress Ninety fourth Congress Second Session written by United States. Congress. Senate. Committee on Foreign Relations. Subcommittee on Multinational Corporations and published by . This book was released on 1973 with total page 1918 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Multinational Corporations and United States Foreign Policy written by United States. Congress. Senate. Committee on Foreign Relations. Subcommittee on Multinational Corporations and published by . This book was released on 1976 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Hearings Reports and Prints of the Senate Committee on Foreign Relations written by United States. Congress. Senate. Committee on Foreign Relations and published by . This book was released on 1976 with total page 1420 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Chrysler Corporation Loan Guarantee Act of 1979 written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 1979 with total page 1460 pages. Available in PDF, EPUB and Kindle. Book excerpt:
