G2TT
来源类型Discussion paper
规范类型论文
来源IDDP15485
DP15485 Choosing the narrative? The shadow banking crisis in light of Covid
Marcus Miller
发表日期2020-11-23
出版年2020
语种英语
摘要Could experiencing a health pandemic aid in understanding the nature of financial crisis? It might, for example, help to discriminate between different narratives that claim to do so. In this spirit, two influential accounts of the near-collapse of shadow banking in US financial crisis of 2008 are analysed: one developed by Mark Gertler and Nobuhiro Kiyotaki and the other presented by the Financial Crisis Inquiry Commission of the US Congress. Using a common two-sector framework, key features of these contrasting accounts of the market for banking services are presented, along with their corresponding diagnoses of what precipitated financial crisis. To see what the experience of Covid might imply about their relative credibility, four aspects of the current pandemic are considered: how it began from a small biological shock; how it gets spread by contagion; the significance of externalities; and how it may end with a vaccine. But the reader is left to form his or her own judgement.
主题Financial Economics
关键词Shadow banking Rating agencies Equity constraints Technology and news shocks Bank runs Epidemic contagion Social contagion
URLhttps://cepr.org/publications/dp15485
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/544481
推荐引用方式
GB/T 7714
Marcus Miller. DP15485 Choosing the narrative? The shadow banking crisis in light of Covid. 2020.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Marcus Miller]的文章
百度学术
百度学术中相似的文章
[Marcus Miller]的文章
必应学术
必应学术中相似的文章
[Marcus Miller]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。