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Preventing Financial Crises: An International Perspective

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  • Frederic S. Mishkin

Abstract

In recent years the possibility of an international financial crisis has increased because of greater liquidity of international financial markets, an increase in corporate indebtedness and the decline of the banking industry. Using an asymmetric information analysis, this paper outlines what signals a central bank might look for to determine if a financial crisis is occurring and then describes how central banks might operate and cooperate to prevent financial crises.

Suggested Citation

  • Frederic S. Mishkin, 1994. "Preventing Financial Crises: An International Perspective," NBER Working Papers 4636, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:4636
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes

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