Macroeconomics in Times of Liquidity Crises is popular PDF and ePub book, written by Guillermo A. Calvo in 2016-11-04, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Macroeconomics in Times of Liquidity Crises can be Read Online from any device for your convenience.
Macroeconomics in Times of Liquidity Crises Book PDF Summary
An examination of Liquidity Crunch in triggering and characterizing financial crises. Since the subprime mortgage crisis that began in 2007, advanced economies have felt a nagging sense of insecurity. In parallel, the profession has witnessed phenomena that are alien to mainstream macroeconomic models. Financial crises are systemic, occurring simultaneously in different economies. In this book, Guillermo Calvo focuses on liquidity factors as a commonality in financial crises. Specifically, he examines the role of “liquidity crunch” in triggering crises. He also identifies a fundamental (but overlooked) idea in Keynes's General Theory, termed by Calvo the price theory of money, to rationalize the resiliency of the U.S. dollar when other dollar-backed assets suffered a devastating liquidity crunch. Calvo shows that a sharp focus on liquidity reveals some characteristics of liquid assets that are easy to miss otherwise. He argues for liquidity's centrality, presenting what he calls the Liquidity Approach. He shows that simple extensions of standard monetary models help rationalize the implications of the liquidity crunch, and then examines slightly more technical models that highlight liquidity issues. He explores the empirical effects of liquidity crunch by studying systemic sudden stops (of capital inflows), presuming that they are triggered by liquidity crunch-type phenomena.
Detail Book of Macroeconomics in Times of Liquidity Crises PDF
- Author : Guillermo A. Calvo
- Release : 04 November 2016
- Publisher : MIT Press
- ISBN : 9780262035415
- Genre : Business & Economics
- Total Page : 265 pages
- Language : English
- PDF File Size : 16,9 Mb
If you're still pondering over how to secure a PDF or EPUB version of the book Macroeconomics in Times of Liquidity Crises by Guillermo A. Calvo, don't worry! All you have to do is click the 'Get Book' buttons below to kick off your Download or Read Online journey. Just a friendly reminder: we don't upload or host the files ourselves.