Book contents
- Frontmatter
- Contents
- List of figures
- List of tables
- Preface
- Acknowledgments
- Abbreviations
- 1 Introduction
- 2 Financial crises in the USA and Europe, but not in Asia
- 3 Could today’s financial crisis have been foreseen?
- 4 The US housing market and the subprime crisis
- 5 Securitization and derivatives spread the crisis around the world
- 6 Liquidity risk aspects of the crisis and a comparison with 1907 and 1929
- 7 Credit risk aspects of the crisis, rating and solvency
- 8 Financial crises in modern history
- 9 Worldwide changes in regulation and supervision as a result of the crisis
- 10 Outstanding issues
- Bibliography
- Index
3 - Could today’s financial crisis have been foreseen?
Published online by Cambridge University Press: 05 June 2012
Book contents
- Frontmatter
- Contents
- List of figures
- List of tables
- Preface
- Acknowledgments
- Abbreviations
- 1 Introduction
- 2 Financial crises in the USA and Europe, but not in Asia
- 3 Could today’s financial crisis have been foreseen?
- 4 The US housing market and the subprime crisis
- 5 Securitization and derivatives spread the crisis around the world
- 6 Liquidity risk aspects of the crisis and a comparison with 1907 and 1929
- 7 Credit risk aspects of the crisis, rating and solvency
- 8 Financial crises in modern history
- 9 Worldwide changes in regulation and supervision as a result of the crisis
- 10 Outstanding issues
- Bibliography
- Index
Summary
Can financial crises be predicted?
This chapter will contain both theory and empirics. In relation to the other chapters in the book, it may feel theoretical, at least at the beginning. The reader who is more interested in today’s crisis, and the suggested remedies for how future crises are to be avoided or alleviated, may skip this chapter and go directly to , without losing the main thread of the argument.
The crucial question in this chapter regards the possibility to predict and thereby avoid financial crises. Could today’s crisis have been foreseen, given known facts? With the results of the present crisis at hand, can we more easily predict and hence counteract the next crisis?
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- A Global History of the Financial Crash of 2007–10 , pp. 95 - 111Publisher: Cambridge University PressPrint publication year: 2011
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