Identifying and Resolving Financial Crises
April 17, 2008 | Federal Reserve Bank of Cleveland
Financial crises remain a recurring problem despite, or perhaps as some suggest, even because of, extensive innovation in capital markets over the past several decades. This conference discussed issues involved in crisis interventions such as: What are the costs of doing nothing? What is the probability that markets will seize up? Are there viable alternatives? Will the intervention make further crises more likely?
Papers Presented
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Payoff Complementarities and Financial Fragility: Evidence from Mutual Fund Outflows
Qi Chen, Itay Goldstein, and Wei Jiang
paper | slides
Discussant: Chester Spatt
slides
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Regulating International Capital Flows: An Externality View
Discussant: Eric Fisher
slides
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Imperfect Competition in the Interbank Market for Liquidity as a Rationale for Central Banking
Viral Acharya, Denis Gromb, and Tanju Yorulmazer
paper | slidesDiscussant: Stacey Shreft
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Bank Wholesale Funding, Market Discipline, and Liquidity Risk
Rocco Huang and Lev Ratnovski
paper | slidesDiscussant: Antoine Martin
slides
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Which Banks Survive a Banking Crisis?
Emilia Bonaccorsi di Patti and Anil K. Kashyap
paper | slidesDiscussant: Emre Ergungor
slides
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How Well Do Aggregate Bank Ratios Identify Banking Problems?
Martin Čihák and Klaus Schaeck
paper | slidesDiscussant: Ken Jones
slides
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The Impact of Revenue Diversity on Banking System Stability
Olivier DeJonghe
paper | slidesDiscussant: Rich Rosen
