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

Qi Chen, Itay Goldstein, and Wei Jiang
paper  | slides

Discussant: Chester Spatt
slides

Anton Korinek
paper |  slides

Discussant: Eric Fisher
slides

Viral Acharya, Denis Gromb, and Tanju Yorulmazer
paper |  slides

Discussant: Stacey Shreft

Rocco Huang and Lev Ratnovski
paper | slides

Discussant: Antoine Martin
slides

Emilia Bonaccorsi di Patti and Anil K. Kashyap
paper | slides

Discussant: Emre Ergungor
slides

Martin Čihák and Klaus Schaeck
paper | slides

Discussant: Ken Jones
slides

Olivier DeJonghe
paper | slides

Discussant: Rich Rosen