منابع مشابه
Portfolio Manager Behavior and Global Financial Crises
I develop a two market agent-based model to study how global portfolio managers affect global financial crises and stability. The Markowitz model is extended by incorporating several insights from behavioral finance. Simulation results of an agent-based version of the Markowitz model reveal that global financial crises do not occur when global managers are added to the model. However, when risk...
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Th e main objective of this paper is to highlight the importance of the fi nancial stability of the global fi nancial system particularly aft er the recent global fi nancial crisis of 200809. Th e major causes of diff erent fi nancial crises possess the same pattern of greed among investors, ineffi ciency of government regulators, central banks and other stakeholders. Th ey have miserably faile...
متن کاملThe Dynamics of Global Financial Crises
This paper presents a Markov chain model of the transmission of financial crises. Using bilateral trade data and a measure of exchange market pressure, a method to determine a set of transition probabilities that describes the crisis transmission dynamics is developed. The dynamics are characterized by one-month conditional crisis probabilities and the probability of a crisis occurring within o...
متن کاملFinancial Crises and Political Crises∗
The simultaneous determination of financial default and political crises is studied in an open economy model. Political crises accompany default in equilibrium because of an information transmission conflict between the government and the public. Multiple equilibria are possible: if foreign lenders are pessimistic about the country’s stability, they demand a high interest on the debt, exacerbat...
متن کاملInternational Monetary Fund and financial crises in the global economy
The rapidly evolving global economy as well as new challenges with economic and social implications make the problem of financial crises, including currency crises, extremely important in the current situation. Especially given the fact that the crises affect various countries and regions of the world. Serious currency crashes have occurred in developing countries with marked structural problem...
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ژورنال
عنوان ژورنال: Environmental Science & Technology
سال: 2008
ISSN: 0013-936X,1520-5851
DOI: 10.1021/es803424e