Liquidity Lost

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Publisher :
ISBN 13 : 0199683786
Total Pages : 235 pages
Book Rating : 4.1/5 (996 download)

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Book Synopsis Liquidity Lost by : Paul Langley

Download or read book Liquidity Lost written by Paul Langley and published by . This book was released on 2015 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: The interventions of crisis management during the 2007 to 2011 financial crisis were not simply responses to a set of given developments in markets, banking or neo-liberal capitalism. Nor can those interventions be adequately explained as the actions of sovereign state officials and institutions. Instead, Langley argues, processes of crisis governance are shown to have established six principal technical problems to be acted upon: liquidity, toxicity, solvency, risk, regulation, and debt and that the governance of these technical problems, is shown to have been strategically assembled in order to secure the continuation of a particular, financialized way of life that depends upon global financial circulations. Contributing to interdisciplinary debates in cultural economy and the social studies of finance, and grounded in extensive empirical research, this book offers an innovative analysis of how the contemporary global financial crisis was governed. Through an exploration of the interventions made by central banks, treasuries, and regulatory authorities in the Anglo-American heartland of the crisis between 2007 and 2011, experimental and strategic apparatuses of crisis governance are shown to have emerged. These discrete apparatuses established the six technical problems to be acted upon, but also shared certain proclivities and preferences. Crisis governance assembled discourses and devices of economy in relation with sovereign monetary, fiscal, and regulatory techniques, and elicited an affective atmosphere of confidence. It also sought to secure the financialized way of life which turns on the opportunities ostensibly afforded by uncertain financial circulations, and gave rise to post-crisis technical fixes designed to advance the resilience of banking and the macro-prudential regulation of financial stability. Thus, the consensus that prevails across economics, political economy, and beyond - wherein sovereign state institutions are cast as coming to the rescue of the markets, banking, or neo-liberal capitalism - conceals a great deal more than it reveals about the governance of the global financial crisis.

Liquidity Lost

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Publisher :
ISBN 13 : 9780191763366
Total Pages : 220 pages
Book Rating : 4.7/5 (633 download)

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Book Synopsis Liquidity Lost by : Paul Langley

Download or read book Liquidity Lost written by Paul Langley and published by . This book was released on 2015 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contributing to interdisciplinary debates in cultural economy and the social studies of finance, and grounded in extensive empirical research, this book offers an innovative analysis of how the contemporary global financial crisis was governed. The focus is on the US and UK between 2007 and 2011.

Lit and Dark Liquidity with Lost Time Data: Interlinked Trading Venues around the Global Financial Crisis

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Publisher : Springer
ISBN 13 : 1137396857
Total Pages : 121 pages
Book Rating : 4.1/5 (373 download)

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Book Synopsis Lit and Dark Liquidity with Lost Time Data: Interlinked Trading Venues around the Global Financial Crisis by : T. Vuorenmaa

Download or read book Lit and Dark Liquidity with Lost Time Data: Interlinked Trading Venues around the Global Financial Crisis written by T. Vuorenmaa and published by Springer. This book was released on 2014-03-12 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the 2008 financial crisis, researchers and policy makers have been looking to empirical data to distil both what happened and how a similar event can be avoided in the future. In Lit and Dark Liquidity with Lost Time Data, Vuorenmaa analyses liquidity to better understand the crux of the financial crisis. By relating liquidity to jump activity, market microstructure noise variance, and average pairwise correlation, Vuorenmaa uncovers the dynamics and ramifications behind anonymous trades made outside of public exchanges, and measures its impact on the crisis. This volume is ideal for academics, students, and practitioners alike, who are interested in investigating the role of lost time in and after the recession.

The Global Economic System

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Publisher : FT Press
ISBN 13 : 0132172984
Total Pages : 260 pages
Book Rating : 4.1/5 (321 download)

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Book Synopsis The Global Economic System by : George Chacko

Download or read book The Global Economic System written by George Chacko and published by FT Press. This book was released on 2011-06-08 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Expectations and Market Microstructure when Liquidity is Lost

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Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Expectations and Market Microstructure when Liquidity is Lost by : Jun Muranaga

Download or read book Expectations and Market Microstructure when Liquidity is Lost written by Jun Muranaga and published by . This book was released on 1999 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focuses on the halt of price discovery function in the financial markets and the evaporation of market liquidity. Explores the mechanism of these phenomena by using simulation techniques shown in Muranaga and Shimizu (1999).

The Fed and Lehman Brothers

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Publisher : Cambridge University Press
ISBN 13 : 1108420966
Total Pages : 297 pages
Book Rating : 4.1/5 (84 download)

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Book Synopsis The Fed and Lehman Brothers by : Laurence M. Ball

Download or read book The Fed and Lehman Brothers written by Laurence M. Ball and published by Cambridge University Press. This book was released on 2018-06-07 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sets the record straight on why the Federal Reserve failed to rescue Lehman Brothers during the financial crisis.

Liquidity and Crises

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Publisher : Oxford University Press
ISBN 13 : 0199780935
Total Pages : pages
Book Rating : 4.1/5 (997 download)

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Book Synopsis Liquidity and Crises by : Franklin Allen

Download or read book Liquidity and Crises written by Franklin Allen and published by Oxford University Press. This book was released on 2010-11-30 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial crises have been pervasive for many years. Their frequency in recent decades has been double that of the Bretton Woods Period (1945-1971) and the Gold Standard Era (1880-1993), comparable only to the period during the Great Depression. Nevertheless, the financial crisis that started in the summer of 2007 came as a great surprise to most people. What initially was seen as difficulties in the U.S. subprime mortgage market, rapidly escalated and spilled over first to financial markets and then to the real economy. The crisis changed the financial landscape worldwide and its full costs are yet to be evaluated. One important reason for the global impact of the 2007-2009 financial crisis was massive illiquidity in combination with an extreme exposure of many financial institutions to liquidity needs and market conditions. As a consequence, many financial instruments could not be traded anymore, investors ran on a variety of financial institutions particularly in wholesale markets, financial institutions and industrial firms started to sell assets at fire sale prices to raise cash, and central banks all over the world injected huge amounts of liquidity into financial systems. But what is liquidity and why is it so important for firms and financial institutions to command enough liquidity? This book brings together classic articles and recent contributions to this important field of research. It provides comprehensive coverage of the role of liquidity in financial crises and is divided into five parts: (i) liquidity and interbank markets; (ii) the public provision of liquidity and regulation; (iii) money, liquidity and asset prices; (iv) contagion effects; (v) financial crises and currency crises.

The Lost Bank

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Publisher : Simon and Schuster
ISBN 13 : 1451617933
Total Pages : 401 pages
Book Rating : 4.4/5 (516 download)

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Book Synopsis The Lost Bank by : Kirsten Grind

Download or read book The Lost Bank written by Kirsten Grind and published by Simon and Schuster. This book was released on 2013-07-16 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on reporting for which the author was named a finalist for the Pulitzer Prize and the Gerald Loeb Award, this book traces the rise and spectacular fall of Washington Mutual.

Risk Topography

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Publisher : University of Chicago Press
ISBN 13 : 022609264X
Total Pages : 286 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis Risk Topography by : Markus Brunnermeier

Download or read book Risk Topography written by Markus Brunnermeier and published by University of Chicago Press. This book was released on 2014-10-17 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent financial crisis and the difficulty of using mainstream macroeconomic models to accurately monitor and assess systemic risk have stimulated new analyses of how we measure economic activity and the development of more sophisticated models in which the financial sector plays a greater role. Markus Brunnermeier and Arvind Krishnamurthy have assembled contributions from leading academic researchers, central bankers, and other financial-market experts to explore the possibilities for advancing macroeconomic modeling in order to achieve more accurate economic measurement. Essays in this volume focus on the development of models capable of highlighting the vulnerabilities that leave the economy susceptible to adverse feedback loops and liquidity spirals. While these types of vulnerabilities have often been identified, they have not been consistently measured. In a financial world of increasing complexity and uncertainty, this volume is an invaluable resource for policymakers working to improve current measurement systems and for academics concerned with conceptualizing effective measurement.

Oversight Hearings with Regard to the Reauthorization of the Commodity Futures Trading Commission

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Publisher :
ISBN 13 :
Total Pages : 990 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Oversight Hearings with Regard to the Reauthorization of the Commodity Futures Trading Commission by : United States. Congress. Senate. Committee on Agriculture, Nutrition, and Forestry

Download or read book Oversight Hearings with Regard to the Reauthorization of the Commodity Futures Trading Commission written by United States. Congress. Senate. Committee on Agriculture, Nutrition, and Forestry and published by . This book was released on 1990 with total page 990 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Morning After--The Impact on Collateral Supply After a Major Default

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Publisher : International Monetary Fund
ISBN 13 : 1484382404
Total Pages : 26 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis The Morning After--The Impact on Collateral Supply After a Major Default by : Dermot Turing

Download or read book The Morning After--The Impact on Collateral Supply After a Major Default written by Dermot Turing and published by International Monetary Fund. This book was released on 2018-10-31 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changes to the regulatory system introduced after the financial crisis include not only mandatory clearing of OTC derivatives at central counterparties and margining of uncleared derivatives, but also prudential measures, including notably a “Liquidity Coverage Ratio” which obliges firms to set aside high-quality liquid assets (HQLA) as a stopgap against anticipated cash outflows. We examine factors which may affect the demand for HQLA in a severely stressed market following a hypothetical default of a major clearing member. Immediately following a major default, the amount of HQLA demanded by the whole market would spike. We estimate the size of the spike and draw conclusions as to whether the depth of the market is adequate to absorb it.

Lost Decades: The Making of America's Debt Crisis and the Long Recovery

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Publisher : W. W. Norton & Company
ISBN 13 : 0393080501
Total Pages : 259 pages
Book Rating : 4.3/5 (93 download)

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Book Synopsis Lost Decades: The Making of America's Debt Crisis and the Long Recovery by : Menzie D. Chinn

Download or read book Lost Decades: The Making of America's Debt Crisis and the Long Recovery written by Menzie D. Chinn and published by W. W. Norton & Company. This book was released on 2011-09-19 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: A clear, authoritative guide to the crisis of 2008, its continuing repercussions, and the needed reforms ahead. The U.S. economy lost the first decade of the twenty-first century to an ill-conceived boom and subsequent bust. It is in danger of losing another decade to the stagnation of an incomplete recovery. How did this happen? Read this lucid explanation of the origins and long-term effects of the recent financial crisis, drawn in historical and comparative perspective by two leading political economists. By 2008 the United States had become the biggest international borrower in world history, with more than two-thirds of its $6 trillion federal debt in foreign hands. The proportion of foreign loans to the size of the economy put the United States in league with Mexico, Indonesia, and other third-world debtor nations. The massive inflow of foreign funds financed the booms in housing prices and consumer spending that fueled the economy until the collapse of late 2008. This was the most serious international economic crisis since the Great Depression of the 1930s. Menzie Chinn and Jeffry Frieden explain the political and economic roots of this crisis as well as its long-term effects. They explore the political strategies behind the Bush administration’s policy of funding massive deficits with foreign borrowing. They show that the crisis was foreseen by many and was avoidable through appropriate policy measures. They examine the continuing impact of our huge debt on the continuing slow recovery from the recession. Lost Decades will long be regarded as the standard account of the crisis and its aftermath.

International Convergence of Capital Measurement and Capital Standards

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Publisher : Lulu.com
ISBN 13 : 9291316695
Total Pages : 294 pages
Book Rating : 4.2/5 (913 download)

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Book Synopsis International Convergence of Capital Measurement and Capital Standards by :

Download or read book International Convergence of Capital Measurement and Capital Standards written by and published by Lulu.com. This book was released on 2004 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Corporate Liquidity and Solvency in Europe during COVID-19: The Role of Policies

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Publisher : International Monetary Fund
ISBN 13 : 1513570919
Total Pages : 48 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Corporate Liquidity and Solvency in Europe during COVID-19: The Role of Policies by : Mr.Christian H Ebeke

Download or read book Corporate Liquidity and Solvency in Europe during COVID-19: The Role of Policies written by Mr.Christian H Ebeke and published by International Monetary Fund. This book was released on 2021-03-02 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The spread of COVID-19, containment measures, and general uncertainty led to a sharp reduction in activity in the first half of 2020. Europe was hit particularly hard—the economic contraction in 2020 is estimated to have been among the largest in the world—with potentially severe repercussions on its nonfinancial corporations. A wave of corporate bankruptcies would generate mass unemployment, and a loss of productive capacity and firm-specific human capital. With many SMEs in Europe relying primarily on the banking sector for external finance, stress in the corporate sector could easily translate into pressures in the banking system (Aiyar et al., forthcoming).

Make Waves

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Publisher : University of Nevada Press
ISBN 13 : 1948908301
Total Pages : 425 pages
Book Rating : 4.9/5 (489 download)

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Book Synopsis Make Waves by : Paula Anca Farca

Download or read book Make Waves written by Paula Anca Farca and published by University of Nevada Press. This book was released on 2019-10-16 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: Water is a symbol of life, wisdom, fertility, purity, and death. Water also sustains and nourishes, irrigates our crops, keeps us clean and healthy, and contributes to our energy needs. But a strain has been put on our water resources as increased energy demands combine with the effects of climate change to create a treacherous environment. Individuals and communities around the globe increasingly face droughts, floods, water pollution, water scarcity, and even water wars. We tend to address and solve these concerns through scientific and technological innovations, but social and cultural analyses and solutions are needed as well. In this edited collection, contributors tackle current water issues in the era of climate change using a wide variety of recent literature and film. At its core, this collection demonstrates that water is an immense reservoir of artistic potential and an agent of historical and cultural exchange. Creating familiar and relatable contexts for water dilemmas, authors and directors of contemporary literary texts and films present compelling stories of our relationships to water, water health, ecosystems, and conservation. They also explore how global water problems affect local communities around the world and intersect with social and cultural aspects such as health, citizenship, class, gender, race, and ethnicity. This transformative work highlights the cultural significance of water—the source of life and a powerful symbol in numerous cultures. It also raises awareness about global water debates and crises.

New Paradigms for Financial Regulation

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Publisher : Brookings Institution Press
ISBN 13 : 0815722648
Total Pages : 301 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis New Paradigms for Financial Regulation by : Masahiro Kawai

Download or read book New Paradigms for Financial Regulation written by Masahiro Kawai and published by Brookings Institution Press. This book was released on 2013 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: " A Brookings Institution Press and Asian Development Bank Institute publication The global financial crisis has led to a sweeping reevaluation of financial market regulation and macroeconomic policies. Emerging markets need to balance the goals of financial development and broader financial inclusion with the imperative of strengthening macroeconomic and financial stability. The third in a series on emerging markets, New Paradigms for Financial Regulation develops new analytical frameworks and provides policy prescriptions for how the frameworks should be adapted to a world of more free and more volatile capital. This volume provides an overview of the global regulatory landscape from the perspective of Asian emerging markets. The contributors discuss the many challenges ahead in developing sound and flexible financial regulatory systems for emerging market economies. The challenges are heightened by the rising integration of these economies into global trade and finance, the growing sophistication of their financial systems as globalization and emergence processes accelerate, and their potential vulnerability to instability arising from the financial markets in the advanced economies. The contributors provide guidance about pitfalls to be avoided, general principles that should guide the creation of sound regulatory systems, and valuable analytic perspectives about how to continue to broaden the financial sector and innovate while still maintaining financial and macroeconomic stability. "

The Routledge Handbook of Critical Finance Studies

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Publisher : Taylor & Francis
ISBN 13 : 1351627163
Total Pages : 443 pages
Book Rating : 4.3/5 (516 download)

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Book Synopsis The Routledge Handbook of Critical Finance Studies by : Christian Borch

Download or read book The Routledge Handbook of Critical Finance Studies written by Christian Borch and published by Taylor & Francis. This book was released on 2020-09-15 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been an increasing interest in financial markets across sociology, history, anthropology, cultural studies, and related disciplines over the past decades, with particular intensity since the 2007–2008 crisis which prompted new analyses of the workings of financial markets and how “scandals of Wall Street” might have huge societal ramifications. The sociologically inclined landscape of finance studies is characterized by different more or less well- established homogeneous camps, with more micro-empirical, social studies of finance approaches on the one end of the spectrum and more theoretical, often neo-Marxist approaches, on the other. Yet alternative approaches are also gaining traction, including work that emphasizes the cultural homologies and interconnections with finance as well as work that, more broadly, is both empirically rigorous and theoretically ambitious. Importantly, across these various approaches to finance, a growing body of literature is taking shape which engages finance in a critical manner. The term “critical finance studies” nonetheless remains largely unfocused and undefined. Against this backdrop, the key rationales of The Routledge Handbook of Critical Finance Studies are firstly to provide a coherent notion of this emergent field and secondly to demonstrate its analytical usefulness across a wide range of central aspects of contemporary finance. As such, the volume will offer a comprehensive guide to students and academics on the field of Finance and Critical Finance Studies, Heterodox Economics, Accounting, and related Management disciplines. Chapter 14 of this book is freely available as a downloadable Open Access PDF at http://www.taylorfrancis.com under a Creative Commons Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND) 4.0 license.