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Analytics of Credit Frictions and Market Freezes

Assaf Razin

in Understanding Global Crises: An Emerging Paradigm

Published in print:
2015
Published Online:
May 2016
ISBN:
9780262028592
eISBN:
9780262327701
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028592.003.0006
Subject:
Economics and Finance, International

The chapter reviews models that analyze frictions in loans extended by financial institutions and other lenders.1 Broadly speaking, these are models of credit frictions and market freezes. This ... More


Characterizing Insurance

Rob Merkin and Jenny Steele

in Insurance and the Law of Obligations

Published in print:
2013
Published Online:
September 2013
ISBN:
9780199645749
eISBN:
9780191747823
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199645749.003.0002
Subject:
Law, Law of Obligations

Introduces the complexity of insurance and questions the dominance of an actuarial model. The actuarial model is associated with distributive, collectivising techniques, and these have also been ... More


Economic Principles, Government Policy, and the Market Crisis

Chester Spatt

in Perspectives on Dodd-Frank and Finance

Published in print:
2014
Published Online:
May 2015
ISBN:
9780262028035
eISBN:
9780262325929
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028035.003.0002
Subject:
Economics and Finance, Financial Economics

In this chapter, Chester Spatt argues that policymakers should rely on economic principles to formulate and evaluate policy and discusses how adherence to these principles could have improved ... More


The Origins and Intent of the Volcker Rule

Priyank Gandhi

in Perspectives on Dodd-Frank and Finance

Published in print:
2014
Published Online:
May 2015
ISBN:
9780262028035
eISBN:
9780262325929
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028035.003.0007
Subject:
Economics and Finance, Financial Economics

Professor Priyank Gandhi discusses how the Volcker Rule was written to prevent banks from engaging in risky trading. He discusses the practical difficulties in determining which trading activities ... More


Systemic Risk and the Role of Financial Innovation

Michael Haliassos

in Financial Innovation: Too Much or Too Little?

Published in print:
2013
Published Online:
January 2015
ISBN:
9780262018296
eISBN:
9780262305495
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262018296.003.0008
Subject:
Economics and Finance, Financial Economics

An efficient market system encourages entrepreneurs to take risks by promising rewards, but also by implicating losses for any decisions that turn out to have failed. If the sanctions via potential ... More


The Economic Rationale for the HOLC

Price Fishback, Jonathan Rose, and Kenneth Snowden

in Well Worth Saving: How the New Deal Safeguarded Home Ownership

Published in print:
2013
Published Online:
May 2014
ISBN:
9780226082448
eISBN:
9780226082585
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226082585.003.0005
Subject:
Economics and Finance, Economic History

This chapter examines the rationale for the HOLC from a public policy perspective. The HOLC intervened in the credit and real estate markets by refinancing some distressed loans that private lenders ... More


The International Community: Recommendations and Conclusions

Anthony Ware and Costas Laoutides

in Myanmar's 'Rohingya' Conflict

Published in print:
2018
Published Online:
June 2019
ISBN:
9780190928865
eISBN:
9780190055899
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190928865.003.0007
Subject:
Political Science, Conflict Politics and Policy

This chapter concludes the book by offering a discussion of the role the international community has played, and could play, in both the conflict and conflict resolution. It summarizes the most ... More


An Interview with Vincent Mai

Roger Berkowitz

in The Intellectual Origins of the Global Financial Crisis

Published in print:
2012
Published Online:
January 2013
ISBN:
9780823249602
eISBN:
9780823250752
Item type:
chapter
Publisher:
Fordham University Press
DOI:
10.5422/fordham/9780823249602.003.0007
Subject:
Philosophy, Political Philosophy

Vincent Mai, Chairman of AEA Investors, argues that there has been transformation in the values on Wall Street in the last generation, one that has eroded the moral responsibility of bankers to serve ... More


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