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czwartek, 24 grudnia 2009
piątek, 18 grudnia 2009
czwartek, 3 grudnia 2009
Transmisja czynników ryzyka
Prakash Kannan, Friederike (Fritzi) Koehler-Geib
The subprime crisis became the global crisis when the 2007 financial shock mutated into a full-blown global economic crisis in September 2008. This column attributes the rapid transmission of financial stress to the surprise of the crisis. Using historical data, it shows that crises with a pronounced surprise element tend to result in more widespread contagion.
Full Article: Why did the crisis go global?"
The subprime crisis became the global crisis when the 2007 financial shock mutated into a full-blown global economic crisis in September 2008. This column attributes the rapid transmission of financial stress to the surprise of the crisis. Using historical data, it shows that crises with a pronounced surprise element tend to result in more widespread contagion.
Full Article: Why did the crisis go global?"
środa, 2 grudnia 2009
Granice zabezpieczeń kredytowych
Kenneth Rogoff: The Limits of Dubai: "Global investors are in a giant huff over Dubai’s decision to allow its flagship private company Dubai World to seek a six-month standstill (implying at least partial default) on payments on some $26 billion in debt. But what really upset investors was the realization that, in an over-leveraged world, some day untenable debt guarantees will have to be withdrawn."
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