The global economic system : how liquidity shocks affect financial institutions and lead to economic crises / George Chacko ... [et al.].

Format:

Book

Author/Creator:

Chacko, George, author.

Contributor:

Chacko, George.

Language:

English

Subjects (All):

International finance.

Liquidity (Economics).

Financial crises.

Physical Description:

1 online resource (x , 269 p. ) ill. ;

Edition:

1st edition

Place of Publication:

Upper Saddle River, N.J. : FT Press, c2011.

Language Note:

English

System Details:

text file

Summary:

Written for financial professionals, the authors thoroughly explain the modern global credit system; the roles of banks, hedge funds, insurers, central banks, mortgage markets, and other participants; and the credit-related instruments they rely on. In particular, the authors illuminate the crucial importance of liquidity, and show why liquidity failures have been the key cause of all major market crashes for the past several decades. The Global Financial System thoroughly examines economic environments in which slow de-leveraging leads to prolonged sluggish growth, and compares today's environment to other periods of deleveraging, such as the Great Depression and the Japanese economic meltdown of the '90s and '00s. It predicts potential pathways for the current crisis, and offers essential guidance to both policymakers and investment decision-makers.

Contents:

Introduction

Liquidity risk: concepts

The Great Depression

Japan's lost decade

The Great Recession

Conclusion.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references and index.

ISBN:

9780137050123

0137050127

OCLC:

747046914