Financial Crises

This important volume presents key contributions to the study of financial crises from many different areas of economics. The book offers an economic history of financial crises, empirical studies of crises in the modern era and classic works on the theory of banking crises. It also covers specialized topics, with sections on currency crises and financial contagion. Undergraduate students of money, banking, macroeconomics and financial crises alike will find this collection to be an invaluable overview of a critical area of study.

ISBN	1843764245	DEWEY edition	DC22
ISBN13	9781843764243 (What's this?)	Pages	608
Publisher	Edward Elgar Publishing Ltd	Volumes	001
Imprint	Edward Elgar Publishing Ltd	Published in	Cheltenham
Format	Hardback	Series title	The International Library of Critical Writings in Economics Series
Publication date	29 Feb 2008	Height (mm)	244
Library of Congress	HB3722	Width (mm)	169
DEWEY	338.542	Academic level	Undergraduate, Postgraduate

	Introduction by Franklin Allen and Douglas Gale
Pt. I	Crises in Historical Perspective
1	Is the Crisis Problem Growing More Severe? by Michael Bordo and Barry Eichengreen and Daniela Klingebiel and Maria Soledad Martinez-Peria	3
2	Banking Panics and Business Cycles by Gary Gorton	33
3	Fundamentals, Panics, and Bank Distress During the Depression by Charles W. Calomiris and Joseph R. Mason	64
Pt. II	Empirical Studies of Crises
4	The Real Output Losses Associated with Modern Banking Crises by John H. Boyd and Sungkyu Kwak and Bruce Smith	99
5	The Twin Crises: The Causes of Banking and Balance-of-Payments Problems by Graciela L. Kaminsky and Carmen M. Reinhart	122
6	The Unholy Trinity of Financial Contagion by Graciela L. Kaminsky and Carmen M. Reinhart and Carlos A. Vegh	150
Pt. III	Banking Crises
7	A Model of Reserves, Bank Runs, and Deposit Insurance by John Bryant	177
8	Bank Runs, Deposit Insurance, and Liquidity by Douglas W. Diamond and Philip H. Dybvig	187
9	The Role of Demandable Debt in Structuring Optimal Banking Arrangements by Charles W. Calomiris and Charles M. Kahn	206
10	Optimal Financial Crises by Franklin Allen and Douglas Gale	233
11	Financial Intermediaries and Markets by Franklin Allen and Douglas Gale	273
12	Coordination Failures and the Lender of Last Resort: Was Bagehot Right after All? by Jean-Charles Rochet and Xavier Vives	312
13	Demand-Deposit Contracts and the Probability of Bank Runs by Itay Goldstein and Ady Pauzner	344
14	Bubbles and Crises by Franklin Allen and Douglas Gale	379
15	Money in a Theory of Banking by Douglas W. Diamond and Raghuram G. Rajan	399
	More...

'Franklin Allen and Douglas Gale, who have made truly decisive contributions to our understanding of runs, contagion and financial crises, were the ideal scholars to edit this volume. Financial Crises is a well-balanced collection of important articles on the topic, with theoretical, empirical and historical perspectives; a must-read for students, researchers and practitioners interested in banking and currency crises.'- Jean Tirole, University of Sciences, Toulouse, France

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