ENGLISH

The Global Economic System: How Liquidity Shocks Affect Financial Institutions and Lead to Economic Crises

By George Chacko , Carolyn L. Evans , Hans Gunawan , Anders L. Sjoman

Book information

Publisher
FT Press
Year
2011
ISBN
0137050127, 9780137050123
LCC
HG3881 .G57534 2011
Open Library ID
OL24828064M
Language
english
Format
EPUB
Filesize
6 MB (6792387 bytes)
Edition
1
Pages
\0
Time added
2012-02-04 16:00:00

Description

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.

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