FINANCIAL Crises | Academic Articles

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Posts Tagged ‘FINANCIAL crises’

Even now, the u.s. market looks the best of a bad lot

EUROPE’S worsening debt crisis and the sharper-than-expected slowdown in China have weighed down stocks since the start of April. Yet some market strategists say that so long as these overseas fears don’t morph into another global panic, they could serve another purpose: to remind investors that the domestic stock market may be the best choice among a tough set of options. This may seem a difficult statement to make, after Friday’s disappointing jobs report, which showed that the domestic economy produced just 69,000 new jobs in May, roughly 90,000 fewer than were expected. The bad news sent the Standard & Poor’s 500-stock index down by 2.5 percent on Friday.

June 14, 2012 Tags: 2009-, CAPITALISTS & financiers, CONSUMER confidence, EUROPEAN Sovereign Debt Crisis, FINANCIAL crises
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In economic deluge, a world that’s unable to bail together

Less than four years ago, with the world’s financial system in danger of collapsing, major countries managed to come together on a coordinated course that averted a global depression. Central banks pumped vast amounts of cash into economies, and banks were bailed out, with vows that they would be subject to stronger regulation.

June 13, 2012 Tags: BUSINESS losses, CENTRAL banks & banking, DEPRESSIONS, FINANCIAL crises
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Four kinds of dreadful

The article discusses Greece’s debt crisis and four possible outcomes to it. A Greek default and exit from the euro would impose large costs on its public and private sectors, the author says. Other options include a Greek default while remaining in the euro, a Greek exit accompanied by promises to repay its debt, and maintenance of the status quo as of May 2012.

June 7, 2012 Tags: 2009-, DEFAULT (Finance)GREECE -- Economic conditions -- 1974-, EURO, EURO area, EUROPEAN Sovereign Debt Crisis, FINANCIAL crises
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Europe’s fear: spain and greece sink together

LONDON — In a season of nightmare projections for Europe, this one could be the scariest: Greek leaves the euro currency union at the same time Spain’s banking system is collapsing. In many ways, the market convulsion last week was a test run for those crises, as political deadlock in Greece and mounting fears over the health of Bankia, one of the largest consumer banks in Spain, converged. The credit ratings agency Moody’s Investors Service downgraded the entire Spanish banking sector Thursday. [ABSTRACT FROM AUTHOR]

June 5, 2012 Tags: BANKING industry, EURO, FINANCIAL crises, MONETARY unions
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Desperate but not serious

In this article the author explains the use of the phrase “desperate but not serious” to describe the financial situation in Western countries. He argues that everything he reads, such as a February 27, 2012 article in the “New York Times” newspaper, titled “To Pay New York Pension Fund, Cities Borrow from It First,” hints at a dire situation at all political levels. The fiscal condition of several U.S. states and Europe is discussed.

April 2, 2012 Tags: FINANCIAL crises, TERMS & phrases, WESTERN countriesUNITED States -- Economic conditions -- 2009-EUROPE -- Economic conditions -- 1945-ECONOMIC conditions
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The symbolic presidency

In this article the author discusses the U.S. President Barack Obama’s plans for the employment of people. It states about the federal budget of U.S. Senate and the legislation by Obama White House on renewing America’s Promise. It also discusses on the need of new kind of symbolism in America and Euro-zone financial crisis.

April 1, 2012 Tags: FINANCIAL crises, PRESIDENTS -- United States
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How to evaluate an early-warning system: toward a unified statistical framework for assessing financial crises forecasting methods

This paper proposes an original and unified toolbox to evaluate financial crisis early-warning systems (EWS). It presents four main advantages. First, it is a model free method which can be used to assess the forecasts issued from different EWS (probit, logit, Markov switching models, or combinations of models). Second, this toolbox can be applied to any type of crisis EWS (currency, banking, sovereign debt, and so on). Third, it does not only provide various criteria to evaluate the (absolute) validity of EWS forecasts but also proposes some tests to compare the relative performance of alternative EWS. Fourth, this toolbox can be used to evaluate both in-sample and out-of-sample forecasts. Applied to a logit model for 12 emerging countries we show that the yield spread is a key variable for predicting currency crises exclusively for South-Asian countries. Besides, the optimal cut-off correctly allows us to identify now on average more than 2/3 of the crisis and calm periods. [ABSTRACT FROM AUTHOR]

March 23, 2012 Tags: BANKING industry, FINANCIAL crises, LOGITS, MONEY, PUBLIC debts
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Body of evidence

The article considers economics research on the impact of income inequality on financial crises. Studies indicating that increased income inequality in the U.S. generated increased demand for debt leading to the housing bubble of the 2000s and subsequent global financial crisis are contrasted with research finding that it is cheap and widely available debt itself that causes crises, with income inequality not a factor.

March 17, 2012 Tags: BUSINESS cycles, DEBT, ECONOMICS -- Research, FINANCIAL crises, INCOME distribution, RESEARCH
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Race to the bottom

The author discusses the great recession in the U.S. and how it has further stymied the rise of African Americans. The author states that African Americans started out far behind other Americans, and without changes to the disparities in pay, employment, and schooling, the African Americans will not reach the same level as the white Americans. She also mentions a study by Ariel Capital Management which reports that African Americans are more likely than white Americans to dip into their retirement savings.

March 1, 2012 Tags: AFRICAN Americans -- Economic conditions, AFRICAN Americans -- Employment, ECONOMIC recovery, FINANCIAL crises, RECESSIONS, WAGES, WHITES -- United States
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Understanding the second great contraction: an interview with kenneth rogoff

The article presents an interview with economist Kenneth Rogoff. Topics discussed include lessons from history about the aftermath of a financial crisis, the difference between a typical economic recession and one accompanied by a financial crisis, his policy recommendations in the aftermath of the global financial crisis of 2008-2009 including reforms that would remove what amount to subsidies to consumers and firms for assuming debt, and his belief that financial innovation has taken too much blame for the latter crisis.

February 23, 2012 Tags: 2008-2009, CONSUMER credit, CORPORATE debt, DEFAULT (Finance), FINANCIAL crises, GLOBAL Financial Crisis, INTERVIEWS, MORTGAGE loansUNITED States -- Economic conditions -- 2009-, RECESSIONS
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