Crisis and Reform: Managing Systemic Risk

Ricardo Caballero (caball@mit.edu)

Rivista di Politica Economica, 2009, vol. 99, issue 4, 9-64

Abstract: «Everything which involves turbulence is enormously more complicated, not just a little bit more complicated, not just one year more schooling, just enormously more complicated». (Mandelbrot interview with PBS News Hour, October 21th, 2008 by SOLMAN P.)

Keywords: financial crises; panics; sistemic insurance; nationalization; moral hazard; fire sales; runs; liquidationism. (search for similar items in EconPapers)
JEL-codes: E00 E44 E50 E60 (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:rpo:ripoec:v:99:y:2009:i:4:p:9-64

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