The DOI matches its Crossref record; 97 of the 97 references it cites were found in a registry or an index.
Financial Crises: Theory and Evidence
Open accessAbstract
Financial crises have occurred for many centuries. They are often preceded by a credit boom and a rise in real estate and other asset prices, as in the current crisis. They are also often associated with severe disruption in the real economy. This paper surveys the theoretical and empirical literature on crises. The first explanation of banking crises is that they are a panic. The second is that they are part of the business cycle. Modeling crises as a global game allows the two to be unified. With all the liquidity problems in interbank markets that have occurred during the current crisis, there is a growing literature on this topic. Perhaps the most serious market failure associated with crises is contagion, and there are many papers on this important topic. The relationship between asset price bubbles, particularly in real estate, and crises is discussed at length.
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Citations
Cites
Bank Runs, Deposit Insurance, and Liquidity
Diamond, D. W., & Dybvig, P. H. (1983) · Journal of Political Economy · doi:10.1086/261155 · Cited by 9,369
Financial intermediation and delegated monitoring
Diamond, D. W. (1984) · The Review of Economic Studies · doi:10.2307/2297430 · Cited by 8,476 · cited 1×
“Traditionally, intermediaries also act as delegated monitors, as in Diamond (1984) , restructure”
BackgroundThe Twin Crises: The Causes of Banking and Balance-of-Payments Problems
Kaminsky, G. L., & Reinhart, C. M. (1999) · American Economic Review · doi:10.1257/aer.89.3.473 · Cited by 4,978
Market Liquidity and Funding Liquidity
Brunnermeier, M. K., & Pedersen, L. H. (2009) · Review of Financial Studies · doi:10.1093/rfs/hhn098 · Cited by 4,835
Agency Costs, Net Worth, And Business Fluctuations
Bernanke, B., Gertler, M., Bernanke, B., & Gertler, M. (1988) · Unknown · doi:10.22004/ag.econ.292693 · Cited by 4,386
Deciphering the Liquidity and Credit Crunch 2007–2008
Brunnermeier, M. K. (2009) · Journal of Economic Perspectives · doi:10.1257/jep.23.1.77 · Cited by 3,322
Allen, F., & Gale, D. (2000) · Journal of Political Economy · doi:10.1086/262109 · Cited by 3,186
Self-citationManias, Panics, and Crashes: A History of Financial Crises
Romansco, A. U., & Kindleberger, C. P. (1979) · The American Historical Review · doi:10.2307/1855147 · Cited by 2,838
Adrian, T., & Shin, H. S. (2010) · Journal of Financial Intermediation · doi:10.1016/j.jfi.2008.12.002 · Cited by 2,527
A Monetary History of the United States, 1867-1960
(2017) · The SHAFR Guide Online · doi:10.1163/2468-1733_shafr_sim280020213 · Cited by 2,467
Cited by
Deciphering the Liquidity and Credit Crunch 2007–2008
Brunnermeier, M. K. (2009) · Journal of Economic Perspectives · doi:10.1257/jep.23.1.77 · Cited by 3,322
Mayer, C., Pence, K., & Sherlund, S. M. (2009) · Journal of Economic Perspectives · doi:10.1257/jep.23.1.27 · Cited by 720
Banks’ Non-Interest Income and Systemic Risk
Brunnermeier, M. K., Dong, G. (., & Palia, D. (2012) · SSRN Electronic Journal · doi:10.2139/ssrn.1786738 · Cited by 322
A network analysis of global banking: 1978–2010
Minoiu, C., & Reyes, J. A. (2013) · Journal of Financial Stability · doi:10.1016/j.jfs.2013.03.001 · Cited by 312
Metadata
- Authors
- Allen, F., Babus, A., & Carletti, E.
- Venue
- Annual Review of Financial Economics
- Publisher
- Annual Reviews
- Published
- 2009-12
- Volume
- 1
- Issue
- 1
- Pages
- 97-116
- ISSN
- 1941-1367 (ISSN-L)
- 1941-1375
- OpenAlex
- W3121977162
- Cited by
- 258
- References
- 97
- FWCI
- 15.55
- Type
- journal article
- Language
- en
- Open access
- green
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
