To what extent are financial crises comparable and thus predictable?
AbstractThis paper critically examines the quantitative approach to financial crises from two perspectives. First, the assumption of comparability of financial crises is analyzed. The key question here is: how comparable are crises? An important consideration here is the context – social and political. Second, if financial crises are comparable to a certain extent, then we should be able to make predictions. Thus, the second key question is: how predictable are crises? The results have implications for the development of a theory of financial crises and government policies on crisis management.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 45668.
Date of creation: 16 Oct 2012
Date of revision:
Financial crises; Crisis; Crisis Models; Crisis Management;
Find related papers by JEL classification:
- G01 - Financial Economics - - General - - - Financial Crises
- G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
- G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
- H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-04-06 (All new papers)
- NEP-CBA-2013-04-06 (Central Banking)
- NEP-RMG-2013-04-06 (Risk Management)
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