European Parliament Library

A Balance Sheet Approach to Financial Crisis, Brad Setser, Nouriel Roubini, Christian Keller, Mark Allen, Christoph Rosenberg

Abstract
The paper lays out an analytical framework for understanding crises in emerging markets based on examination of stock variables in the aggregate balance sheet of a country and the balance sheets of its main sectors (assets and liabilities). It focuses on the risks created by maturity, currency, and capital structure mismatches. This framework draws attention to the vulnerabilities created by debts among residents, particularly those denominated in foreign currency, and it helps to explain how problems in one sector can spill over into other sectors, eventually triggering an external balance of payments crisis. The paper also discusses the potential of macroeconomic policies and official intervention to mitigate the cost of such a crisis
Table Of Contents
""Contents""; ""SUMMARY""; ""I. INTRODUCTION""; ""II. THE ANATOMY OF BALANCE SHEET CRISES""; ""III. IMPLICATIONS FOR CRISIS PREVENTION AND FUND POLICY ADVICE DURING CRISES""; ""IV. THE ROLE OF OFFICIAL EXTERNAL FINANCING ""; ""V. CONCLUSIONS""; ""ESTIMATING BALANCE SHEET NEEDS: OPERATIONAL ISSUES""; ""CALCULATING BALANCE SHEET RISKS AND FINANCING GAPS: THAILAND BEFORE THE CRISIS""; ""REFERENCES""
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (64 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781451919394

Library Locations

  • EP Library Luxembourg

    Rue du Fort Thüngen, Luxembourg, L-1313, LU
    Borrow
  • EP Library Brussels

    60 rue Wiertz, Brussels, B-1047, BE
    Borrow
  • EP Library Strasbourg

    7 Place Adrien Zeller, Allée du Printemps, Strasbourg, F-67070, FR
    Borrow