The Resource Flight to quality and bailouts : policy remarks and a literature review, [by] Ricardo J. Caballero [and] Pablo D. Kurlat

Flight to quality and bailouts : policy remarks and a literature review, [by] Ricardo J. Caballero [and] Pablo D. Kurlat

Label
Flight to quality and bailouts : policy remarks and a literature review
Title
Flight to quality and bailouts
Title remainder
policy remarks and a literature review
Statement of responsibility
[by] Ricardo J. Caballero [and] Pablo D. Kurlat
Creator
Contributor
Subject
Language
eng
Summary
Flight to quality episodes involve a combination of extreme risk- or uncertainty-aversion, weaknesses in the balance sheets of key financial intermediaries, and strategic or speculative behavior, that increases credit spreads on all but the safest and most liquid assets. Unlike previous episodes, the entire U.S. financial system is currently at the center of the trouble, with no safe haven pockets, which may lead to greater real effects. The U.S. government's credit is still impeccable, which facilitates policies in support of the financial system. Policy must take into account incentives for behavior during the crisis, discouraging excessive prudence, which sometimes implies relegating post-crisis moral hazard concerns to a secondary role. Keywords: subprime crisis, liquidity, bailout, intermediation, credit spreads. JEL Classifications: E44, G14, G21
Member of
Additional physical form
Abstract in HTML and working paper for download in PDF available via World Wide Web at the Social Science Research Network.
Cataloging source
MYG
http://library.link/vocab/creatorName
Caballero, Ricardo J
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
  • technical reports
http://library.link/vocab/relatedWorkOrContributorName
  • Kurlat, Pablo
  • Massachusetts Institute of Technology
Series statement
Working paper series / Massachusetts Institute of Technology, Dept. of Economics
Series volume
working paper 08-21
http://library.link/vocab/subjectName
  • Financial crises
  • Risk management
  • Finance
Label
Flight to quality and bailouts : policy remarks and a literature review, [by] Ricardo J. Caballero [and] Pablo D. Kurlat
Link
Instantiates
Publication
Note
"October 9, 2008."
Bibliography note
Includes bibliographical references (p. 31-32)
Extent
1 online resource (32 pages
Form of item
online
Other physical details
illustrations)
Specific material designation
remote
Label
Flight to quality and bailouts : policy remarks and a literature review, [by] Ricardo J. Caballero [and] Pablo D. Kurlat
Link
Publication
Note
"October 9, 2008."
Bibliography note
Includes bibliographical references (p. 31-32)
Extent
1 online resource (32 pages
Form of item
online
Other physical details
illustrations)
Specific material designation
remote

Library Locations

  • Internet ArchiveBorrow it
    300 Funston Ave, San Francisco, CA, 94118, US
    37.7823215 -122.4716373

Library Links

Processing Feedback ...