Informational Contagion and the Entrepreneurial Production of Informational Remedies
This article reassess informational financial contagion theory relevant to systemic risk in banking in the light of a coordination problem approach to economics, and then proceed to analyze and comment some related types of systemic risk policies. Typically, policies to limit or contain informational contagion place too much emphasis on disclosed explicit information search and neglect the circumstantial, ecological knowledge surrogates, stemming from the actions taken by market participants during informational contagion crises.
|Date of creation:||Feb 2012|
|Date of revision:||Mar 2013|
|Contact details of provider:|| Postal: |
Phone: 04 42 28 12 08
Fax: +33 (0)4 42 28 08 00
Web page: http://www.univ-cae.org
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Gary Gorton, 2008.
"The Subprime Panic,"
Yale School of Management Working Papers
amz2504, Yale School of Management.
- Margaret Woods & Kevin Dowd & Christopher Humphrey, 2008. "The value of risk reporting: a critical analysis of value-at-risk disclosures in the banking sector," International Journal of Financial Services Management, Inderscience Enterprises Ltd, vol. 3(1), pages 45-64.
- Gennotte, Gerard & Leland, Hayne, 1990.
"Market Liquidity, Hedging, and Crashes,"
American Economic Review,
American Economic Association, vol. 80(5), pages 999-1021, December.
- Gerard Gennotte and Hayne Leland., 1989. "Market Liquidity, Hedging and Crashes," Research Program in Finance Working Papers RPF-184, University of California at Berkeley.
- Gerard Gennotte and Hayne Leland., 1989. "Market Liquidity, Hedging and Crashes," Research Program in Finance Working Papers RPF-192, University of California at Berkeley.
- Rochet, Jean-Charles & Tirole, Jean, 1996.
"Interbank Lending and Systemic Risk,"
Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 28(4), pages 733-62, November.
- Chari, V V & Jagannathan, Ravi, 1988. " Banking Panics, Information, and Rational Expectations Equilibrium," Journal of Finance, American Finance Association, vol. 43(3), pages 749-61, July.
- Mervyn A. King & Sushil Wadhwani, 1989.
"Transmission of Volatility Between Stock Markets,"
NBER Working Papers
2910, National Bureau of Economic Research, Inc.
- Gorton, Gary, 1985. "Bank suspension of convertibility," Journal of Monetary Economics, Elsevier, vol. 15(2), pages 177-193, March.
- Selgin, G., 1993. "In Defence of Bank Suspension," Papers 367, Georgia - College of Business Administration, Department of Economics.
- Guillermo A. Calvo & Enrique G. Mendoza, 1999.
"Regional Contagion and the Globalization of Securities Markets,"
NBER Working Papers
7153, National Bureau of Economic Research, Inc.
- Calvo, Guillermo A. & Mendoza, Enrique G., 2000. "Rational contagion and the globalization of securities markets," Journal of International Economics, Elsevier, vol. 51(1), pages 79-113, June.
- Boissay, Frédéric, 2006. "Credit chains and the propagation of financial distress," Working Paper Series 0573, European Central Bank.
- Nikitin, Maxim & Smith, R. Todd, 2008. "Information acquisition, coordination, and fundamentals in a financial crisis," Journal of Banking & Finance, Elsevier, vol. 32(6), pages 907-914, June.
- Teoh, Siew Hong & Hwang, Chuan Yang, 1991. "Nondisclosure and Adverse Disclosure as Signals of Firm Value," Review of Financial Studies, Society for Financial Studies, vol. 4(2), pages 283-313.
- Jorion, Philippe & Zhang, Gaiyan, 2007. "Good and bad credit contagion: Evidence from credit default swaps," Journal of Financial Economics, Elsevier, vol. 84(3), pages 860-883, June.
- Barlevy, Gadi & Veronesi, Pietro, 2003.
"Rational panics and stock market crashes,"
Journal of Economic Theory,
Elsevier, vol. 110(2), pages 234-263, June.
- Calomiris, Charles W & Kahn, Charles M, 1991. "The Role of Demandable Debt in Structuring Optimal Banking Arrangements," American Economic Review, American Economic Association, vol. 81(3), pages 497-513, June.
- Philippe Jorion & Gaiyan Zhang, 2009. "Credit Contagion from Counterparty Risk," Journal of Finance, American Finance Association, vol. 64(5), pages 2053-2087, October.
When requesting a correction, please mention this item's handle: RePEc:cgm:wpaper:96. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mathieu Bédard)
If references are entirely missing, you can add them using this form.