Liquidity Lost PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Liquidity Lost PDF full book. Access full book title Liquidity Lost by Paul Langley. Download full books in PDF and EPUB format.
Author: Paul Langley
Publisher: Oxford University Press, USA
ISBN: 0199683786
Category : Business & Economics
Languages : en
Pages : 235
Get Book
Book Description
The interventions of crisis management during the 2007 to 2011 financial crisis were not simply responses to a set of given developments in markets, banking or neo-liberal capitalism. Nor can those interventions be adequately explained as the actions of sovereign state officials and institutions. Instead, Langley argues, processes of crisis governance are shown to have established six principal technical problems to be acted upon: liquidity, toxicity, solvency, risk, regulation, and debt and that the governance of these technical problems, is shown to have been strategically assembled in order to secure the continuation of a particular, financialized way of life that depends upon global financial circulations. Contributing to interdisciplinary debates in cultural economy and the social studies of finance, and grounded in extensive empirical research, this book offers an innovative analysis of how the contemporary global financial crisis was governed. Through an exploration of the interventions made by central banks, treasuries, and regulatory authorities in the Anglo-American heartland of the crisis between 2007 and 2011, experimental and strategic apparatuses of crisis governance are shown to have emerged. These discrete apparatuses established the six technical problems to be acted upon, but also shared certain proclivities and preferences. Crisis governance assembled discourses and devices of economy in relation with sovereign monetary, fiscal, and regulatory techniques, and elicited an affective atmosphere of confidence. It also sought to secure the financialized way of life which turns on the opportunities ostensibly afforded by uncertain financial circulations, and gave rise to post-crisis technical fixes designed to advance the resilience of banking and the macro-prudential regulation of financial stability. Thus, the consensus that prevails across economics, political economy, and beyond - wherein sovereign state institutions are cast as coming to the rescue of the markets, banking, or neo-liberal capitalism - conceals a great deal more than it reveals about the governance of the global financial crisis.
Author: Paul Langley
Publisher: Oxford University Press, USA
ISBN: 0199683786
Category : Business & Economics
Languages : en
Pages : 235
Get Book
Book Description
The interventions of crisis management during the 2007 to 2011 financial crisis were not simply responses to a set of given developments in markets, banking or neo-liberal capitalism. Nor can those interventions be adequately explained as the actions of sovereign state officials and institutions. Instead, Langley argues, processes of crisis governance are shown to have established six principal technical problems to be acted upon: liquidity, toxicity, solvency, risk, regulation, and debt and that the governance of these technical problems, is shown to have been strategically assembled in order to secure the continuation of a particular, financialized way of life that depends upon global financial circulations. Contributing to interdisciplinary debates in cultural economy and the social studies of finance, and grounded in extensive empirical research, this book offers an innovative analysis of how the contemporary global financial crisis was governed. Through an exploration of the interventions made by central banks, treasuries, and regulatory authorities in the Anglo-American heartland of the crisis between 2007 and 2011, experimental and strategic apparatuses of crisis governance are shown to have emerged. These discrete apparatuses established the six technical problems to be acted upon, but also shared certain proclivities and preferences. Crisis governance assembled discourses and devices of economy in relation with sovereign monetary, fiscal, and regulatory techniques, and elicited an affective atmosphere of confidence. It also sought to secure the financialized way of life which turns on the opportunities ostensibly afforded by uncertain financial circulations, and gave rise to post-crisis technical fixes designed to advance the resilience of banking and the macro-prudential regulation of financial stability. Thus, the consensus that prevails across economics, political economy, and beyond - wherein sovereign state institutions are cast as coming to the rescue of the markets, banking, or neo-liberal capitalism - conceals a great deal more than it reveals about the governance of the global financial crisis.
Author: George Chacko
Publisher: FT Press
ISBN: 0132172984
Category : Business & Economics
Languages : en
Pages : 258
Get Book
Book Description
Written for financial professionals, the authors thoroughly explain the modern global credit system; the roles of banks, hedge funds, insurers, central banks, mortgage markets, and other participants; and the credit-related instruments they rely on. In particular, the authors illuminate the crucial importance of liquidity, and show why liquidity failures have been the key cause of all major market crashes for the past several decades. The Global Financial System thoroughly examines economic environments in which slow de-leveraging leads to prolonged sluggish growth, and compares today's environment to other periods of deleveraging, such as the Great Depression and the Japanese economic meltdown of the '90s and '00s. It predicts potential pathways for the current crisis, and offers essential guidance to both policymakers and investment decision-makers.
Author: T. Vuorenmaa
Publisher: Springer
ISBN: 1137396857
Category : Business & Economics
Languages : en
Pages : 121
Get Book
Book Description
Since the 2008 financial crisis, researchers and policy makers have been looking to empirical data to distil both what happened and how a similar event can be avoided in the future. In Lit and Dark Liquidity with Lost Time Data, Vuorenmaa analyses liquidity to better understand the crux of the financial crisis. By relating liquidity to jump activity, market microstructure noise variance, and average pairwise correlation, Vuorenmaa uncovers the dynamics and ramifications behind anonymous trades made outside of public exchanges, and measures its impact on the crisis. This volume is ideal for academics, students, and practitioners alike, who are interested in investigating the role of lost time in and after the recession.
Author: Laurence M. Ball
Publisher: Cambridge University Press
ISBN: 1108369081
Category : Business & Economics
Languages : en
Pages : 297
Get Book
Book Description
The bankruptcy of the investment bank Lehman Brothers was the pivotal event of the 2008 financial crisis and the Great Recession that followed. Ever since the bankruptcy, there has been heated debate about why the Federal Reserve did not rescue Lehman in the same way it rescued other financial institutions, such as Bear Stearns and AIG. The Fed's leaders from that time, especially former Chairman Ben Bernanke, have strongly asserted that they lacked the legal authority to save Lehman because it did not have adequate collateral for the loan it needed to survive. Based on a meticulous four-year study of the Lehman case, The Fed and Lehman Brothers debunks the official narrative of the crisis. It shows that in reality, the Fed could have rescued Lehman but officials chose not to because of political pressures and because they underestimated the damage that the bankruptcy would do to the economy. The compelling story of the Lehman collapse will interest anyone who cares about what caused the financial crisis, whether the leaders of the Federal Reserve have given accurate accounts of their actions, and how the Fed can prevent future financial disasters.
Author: Kirsten Grind
Publisher: Simon and Schuster
ISBN: 1451617933
Category : Business & Economics
Languages : en
Pages : 401
Get Book
Book Description
Based on reporting for which the author was named a finalist for the Pulitzer Prize and the Gerald Loeb Award, this book traces the rise and spectacular fall of Washington Mutual.
Author: Laurence M. Ball
Publisher: Cambridge University Press
ISBN: 1108420966
Category : Business & Economics
Languages : en
Pages : 297
Get Book
Book Description
This book sets the record straight on why the Federal Reserve failed to rescue Lehman Brothers during the financial crisis.
Author: Keith Redhead
Publisher: Routledge
ISBN: 113408837X
Category : Business & Economics
Languages : en
Pages : 1294
Get Book
Book Description
In this book, the author draws from finance, psychology, economics, and other disciplines in business and the social sciences, recognising that personal finance and investments are subjects of study in their own right rather than merely branches of another discipline. Considerable attention is given to topics which are either ignored or given very little attention in other texts. These include: the psychology of investment decision-making stock market bubbles and crashes property investment the use of derivatives in investment management regulation of investments business. More traditional subject areas are also thoroughly covered, including: investment analysis portfolio management capital market theory market efficiency international investing bond markets institutional investments option pricing macroeconomics the interpretation of company accounts. Packed with over one hundred exercises, examples and exhibits and a helpful glossary of key terms, this book helps readers grasp the relevant principles of money management. It avoids non-essential mathematics and provides a novel new approach to the study of personal finance and investments. This book will be essential for students and researchers engaged with personal finance, investments, behavioural finance, financial derivatives and financial economics. This book also comes with a supporting website that includes two updated chapters, a new article featuring a behavioural model of the dot com, further exercises, a full glossary and a regularly updated blog from the author.
Author: Mark J. Roe
Publisher: Oxford University Press, USA
ISBN: 9780199240746
Category : Business & Economics
Languages : en
Pages : 254
Get Book
Book Description
Through the use of statistical and qualitative analyses, this text explores the relationship between politics, history and the business organization from a global perspective. The book is divided into seven sections: "Political Conflict and the Corporation"; "Social Conflict and the Institutions of Corporate Governance"; "Left-Right Politics and Ownership Separation: Data"; "Nation by Nation"; "The Direction of Causality"; "The Quality of Corporate Law Argument and its Limits"; and "Unifying the Political Theories".
Author: Stephan Leitner
Publisher: Springer Science & Business Media
ISBN: 3319009125
Category : Business & Economics
Languages : en
Pages : 258
Get Book
Book Description
This volume presents recent advances in the dynamic field of Artificial Economics and its various applications. Artificial Economics provides a structured approach to model and investigate economic and social systems. In particular, this approach is based on the use of agent-based simulations and further computational techniques. The main aim is to analyze the outcomes at the overall systems’ level as results from the agents’ behavior at the micro-level. These emergent characteristics of complex economic and social systems can neither be foreseen nor are they intended. The emergence rather makes these systems function. Artificial Economics especially facilitates the investigation of this emergent systems’ behavior.
Author: L. Albert Hahn
Publisher: Oxford University Press, USA
ISBN: 0198723075
Category : Business & Economics
Languages : en
Pages : 238
Get Book
Book Description
'Economic Theory of Bank Credit' is a clear exposition of a theory of credit, standing in the tradition of Harley Withers, Henry Macleod, and Knut Wicksell. A theory of credit recognises that banks are not only intermediaries of savings but in fact create money themselves. This idea is paired with a detailed accountof the technical processes of the banking sector.
