Suitable for advanced undergraduates, graduates and academics; Policymakers and government officials; and bankers interested in understanding the latest economic theories on the causes and consequences of financial crises.
Franklin Allen, Nippon Life Professor of Finance and Economics, The Wharton School of the University of Pennsylvania, and Douglas Gale, Julius Silver Professor of Economics, New York University & Fellow, Churchill College, Cambridge
Review(s) from previous edition"Allen and Gale have been at the frontier of theoretical thinking about crises for over a decade ... a one-stop-shop for the many important contributions made to the theoretical modelling of financial crises by these two prominent authors
- Central Banking Vol 18 No 1
"This is, for me, the book's real selling point: it is accessible to a graduate level audience - indeed, would make an excellent lecture series - but at the same time easily contains enough state-of-the-art modelling to be of interest to the academic or policymaker.
" - Andrew G. Haldane
1: History and institutions
2: Time, uncertainty and liquidity
4: Asset markets
5: Financial fragility
6: Intermediation and markets
7: Optimal regulation
8: Money and the prices
9: Bubbles and crises