Identifying and Resolving Financial Crises
April 17–18, 2008
Jointly organized by the
Federal Reserve Bank of Cleveland and the
FDIC’s Center for Financial Research
Sponsors: Joseph Haubrich and Mark Flannery
Financial crises remain a recurring problem despite, or even because of, extensive innovation in capital markets over the past several decades. Crisis interventions are fraught with trade-offs—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? Accordingly, the time for discussions regarding the response to financial instability is during times of relative calm to ensure the comprehensive consideration of all factors that may influence response.
This conference will provide substantial opportunties for debate and exchange on these issues.