The Global Economic System

How Liquidity Shocks Affect Financial Institutions and Lead to Economic Crises

George Chacko, Carolyn L. Evans, Hans Gunawan, Anders L. Sjoman (Autoren)

Buch | Hardcover

288 Seiten

2011
Financial Times Prentice Hall (Verlag)
978-0-13-705012-3 (ISBN)

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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.

George Chacko is Associate Professor of Finance at Santa Clara University’s Leavey School of Business and formerly Associate Professor at Harvard Business School, Managing Director at State Street Bank, and Chief Investment Officer at Auda Alternative Investments. He holds a Ph.D. and M.A. in Business Economics from Harvard University and a B.S. from MIT. Carolyn L. Evans is Associate Professor of Economics at Santa Clara University. She has worked at the Federal Reserve Bank of New York, the Federal Reserve Board of Governors, and the White House Council of Economic Advisers. She holds a Ph.D. and M.A. in Economics and a B.A. in East Asian Languages and Civilizations, all from Harvard University. Hans Gunawan is Senior Financial Analyst at Skyline Solar and formerly a manager of financial planning and analysis at JAPFA. He holds an MBA from Santa Clara University and a B.S. from University of California, Berkeley. Anders Sjöman is Vice President of Communications at Voddler. He was formerly Senior Researcher for Harvard Business School’s Paris-based Europe Research Center. He holds an M.Sc. from the Stockholm School of Economics.

Chapter 1: Motivation for Understanding Liquidity Risk     1

Chapter 2: Liquidity Risk: Concepts     11

Chapter 3: The Great Depression     59

Chapter 4: Japan’s Lost Decade     105

Chapter 5: The Great Recession     173

Chapter 6: Conclusion     247

Index     261

Erscheint lt. Verlag	14.7.2011
Verlagsort	Upper Saddle River
Sprache	englisch
Maße	194 x 217 mm
Gewicht	406 g
Themenwelt	Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
ISBN-10	0-13-705012-7 / 0137050127
ISBN-13	978-0-13-705012-3 / 9780137050123
Zustand	Neuware