Sudden financial arrest
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Author
Contributions
- Massachusetts Institute of Technology. Dept. of Economics - Contributor
Publication
2009 - Massachusetts Institute of Technology, Dept. of Economics, Cambridge, MA, Massachusetts
Language
English
Word Count
11,750 words, Guess
Page Count
47 pages
Identifiers
- Internet Archivesuddenfinanciala00caba
- OCLC Control Number672345839
- Open LibraryOL24647197M
Description
There are striking and terrifying similarities between the sudden failure of a heart and that of a financial system. In the medical literature, the former is referred to as a sudden cardiac arrest (SCA). By analogy, I refer to its financial counterpart as a sudden financial arrest (SFA). In this article I describe SFA and its treatment guided by its medical counterpart. Keywords: Financial crisis, panic, defibrillation, complexity, Knightian uncertainty, moral hazard, financial network, capital requirements, contingent capital, contingent insurance, IMF. JEL Classifications: E32, E44, E58, F30, G01, G20.
Subjects
Series Statement
- Working paper series / Massachusetts Institute of Technology, Dept. of Economics -- working paper 09-29
- Working paper (Massachusetts Institute of Technology. Dept. of Economics) -- no. 09-29.
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