Financial Markets and Financial Crises

Front Cover
R. Glenn Hubbard, National Bureau of Economic Research, Professor R Glenn Hubbard
University of Chicago Press, Aug 13, 1991 - Business & Economics - 394 pages
Warnings of the threat of an impending financial crisis are not new, but do we really know what constitutes an actual episode of crisis and how, once begun, it can be prevented from escalating into a full-blown economic collapse?

Using both historical and contemporary episodes of breakdowns in financial trade, contributors to this volume draw insights from theory and empirical data, from the experience of closed and open economies worldwide, and from detailed case studies. They explore the susceptibility of American corporations to economic downturns; the origins of banking panics; and the behavior of financial markets during periods of crisis. Sever papers specifically address the current thrift crisis—including a detailed analysis of the over 500 FSLIC-insured thrifts in the southeast—and seriously challenge the value of recent measures aimed at preventing future collapse in that industry. Government economists and policy makers, scholars of industry and banking, and many in the business community will find these timely papers an invaluable reference.
 

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Contents

The Gold Standard Deflation
33
Models Facts
109
U S MonetaryFinancial
175
Is There a Corporate Debt Crisis? Another Look
207
Sustainability Premia and the Dollar
231
The Continued InterestRate Vulnerability
259
Valuation
283
Copyright

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About the author (1991)

R. Glenn Hubbard is professor of economics and finance at the Graduate School of Business, Columbia University. He is the editor of Asymmetric Information, Corporate Finance, and Investment, published by the University of Chicago Press.

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