Global Financial Systems

Name: Global Financial Systems
Author: Jon Danielsson

Stability and Risk

Specificaties

Paperback, blz. | Engels

Pearson Education | e druk, 2013

ISBN13: 9780273774662

Rubricering

Pearson Education e druk, 2013 9780273774662

90,94

In winkelwagen

Verwachte levertijd ongeveer 8 werkdagen

Samenvatting

Global Financial Systems: Stability and Risk

Jon Danielsson

Under what circumstances have we achieved financial stability? Which previous crises inform the current ones and in what way? What are the common themes and lessons for policy, regulation and financial theory?

Global Financial Systems: Stability and Risk is an innovative textbook that explores the ‘why’ behind global financial stability, providing insightful discussions on the international financial system and the contemporary issues of today. Drawing on economic theory, finance, mathematical modelling and risk theory, this book presents a comprehensive, coherent and current economic analysis of the inherent instabilities of the financial system, and the design of optimal policy response.

Key features

Up-to-date and thorough analysis of the 2007/08 financial crisis. News articles and journal excerpts are used throughout to frame the issues in each chapter. Case studies and practical examples illustrate key arguments and apply the theory to the real world. Chapter-end questions provoke discussion and critical thinking, and provide opportunities to test your understanding. An Instructor Resource Centre including PowerPoint slides, plus an author-hosted website featuring regular updates on current events in the global financial system and links to useful websites.

Jon Danielsson is Director of the Systemic Risk Centre, London School of Economics, and Reader in Finance.

Specificaties

ISBN13:9780273774662

Taal:Engels

Bindwijze:Paperback

Uitgever:Pearson Education

Hoofdrubriek:Economie

Inhoudsopgave

Author’s acknowledgements Publishers’ acknowledgments   Introduction   1 Systemic risk 1.1 Case study: the 1914 crisis 1.2 The concept of systemic risk 1.3 Who creates systemic risk? 1.4 Fundamental origins of systemic risk 1.5 Summary   References   2 The Great Depression 1929–1933 2.1 Build-up to a depression 2.2 The Great Depression 2.3 Causes of the Great Depression 2.4 Implications for future policy 2.5 Summary   3 Endogenous risk   3.1 Millennium Bridge 3.2 Dual role of prices 3.3 Risk 3.4 Dynamic trading strategies 3.5 Actual and perceived risk and bubbles 3.6 The LTCM crisis of 1998 3.7 Conclusion   4 Liquidity   4.1 The liquidity crisis of 1998 4.2 What is liquidity? 4.3 Liquidity models 4.4 Policy implications 4.5 Summary   References   5 The central bank   5.1 The origins of central banks 5.2 Banking supervision 5.3 Monetary policy 5.4 Financial stability 5.5 Bailing out governments 5.6 Challenges for central banking 5.7 Summary   Appendix: central bank interest rate   References   6 The Asian Crisis of 1997 and the IMF 6.1 Building up to a crisis 6.2 The crisis in individual countries 6.2.3 South Korea 6.3 Reasons for the crisis 6.4 Policy options for the crisis countries 6.5 Role of the IMF 6.6 Wider lessons 6.7 Summary   References   7 Banking crises   7.1 Money and early banking 7.2 Moral hazard 7.3 Costs of banking crises 7.4 Causes of banking crises 7.5 Bank and banking system failures 7.6 Summary   References   8 Bank runs and deposit insurance   8.1 Bank runs and crises 8.2 Modelling deposit insurance 8.3 Pros and cons of deposit insurance 8.4 Summary   References   9 Trading and Speculation   9.1 Trading scandals and abuse 9.2 Trading and risk 9.3 Trading activities 9.4 Policy issues 9.5 Summary   References   Appendix: basic terminology of trading   10 Credit markets   10.1 Market for credit 10.2 Credit rating agencies 10.3 Credit models 10.4 Margins, haircuts and mark–to–market 10.5 Securitisation 10.6 Summary   11 Currency markets   11.1 Fixed or floating 11.2 Foreign exchange interventions 11.2.1 Sterilisation 11.3 Capital controls 11.4 Exchange rate regimes 11.5 Perils of overvaluation 11.6 Undervaluation and ‘currency wars’ 11.7 Reserve currency 11.8 Summary   Appendix: exchange rate regimes   References   12 Currency crisis models   12.1 First-generation models 12.2 The Argentinean crisis 12.3 Second-generation models 12.4 European crisis 1992–1993 12.5 Global games currency crisis model 12.6 Summary   References   13 Financial regulations 13.1 Banking regulations 13.2 Bank capital 13.3 International financial regulations: Basel 13.4 Summary   Appendix: Value-at-Risk   References   14 Bailouts   14.1 Successful and unsuccessful bailouts 14.2 The historical origins of lending of last resort (LOLR) 14.3 What