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Bubbles, Financial Crises, and Systemic Risk

Markus Brunnermeier and Martin Oehmke

No 18398, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This chapter surveys the literature on bubbles, financial crises, and systemic risk. The first part of the chapter provides a brief historical account of bubbles and financial crisis. The second part of the chapter gives a structured overview of the literature on financial bubbles. The third part of the chapter discusses the literatures on financial crises and systemic risk, with particular emphasis on amplification and propagation mechanisms during financial crises, and the measurement of systemic risk. Finally, we point toward some questions for future research.

JEL-codes: G00 G01 G20 (search for similar items in EconPapers)
Date: 2012-09
New Economics Papers: this item is included in nep-ban, nep-cba, nep-his and nep-rmg
Note: AP CF ME
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (101)

Published as Handbook of the Economics of Finance Volume 2, Part B, 2013, Pages 1221–1288 Cover image Chapter 18 – Bubbles, Financial Crises, and Systemic Risk * Markus K. Brunnermeiera, , Martin Oehmkeb,

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