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
Resource Information
The item Flight to quality and bailouts : policy remarks and a literature review, [by] Ricardo J. Caballero [and] Pablo D. Kurlat represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in Internet Archive - Open Library.This item is available to borrow from all library branches.
Resource Information
The item Flight to quality and bailouts : policy remarks and a literature review, [by] Ricardo J. Caballero [and] Pablo D. Kurlat represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in Internet Archive - Open Library.
This item is available to borrow from all library branches.
- 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
- Language
- eng
- Extent
- 1 online resource (32 pages
- Note
- "October 9, 2008."
- 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
- 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
- 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
- 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
- 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
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.archive.org/portal/Flight-to-quality-and-bailouts--policy-remarks/sCQuhNZZ2y0/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.archive.org/portal/Flight-to-quality-and-bailouts--policy-remarks/sCQuhNZZ2y0/">Flight to quality and bailouts : policy remarks and a literature review, [by] Ricardo J. Caballero [and] Pablo D. Kurlat</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.archive.org/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.archive.org/">Internet Archive - Open Library</a></span></span></span></span></div>
