In this paper, we review three branches of theoretical literature on financial crises. The first one deals with banking crises originating from coordination failures among bank creditors. The second one deals with frictions in credit and interbank markets due to problems of moral hazard and adverse selection. The third one deals with currency crises. We discuss the evolutions of these branches ...

We study the behavior of credit spreads and their link to economic growth during financial crises. Our main finding is that the recessions that surround financial crises are longer and deeper than the recessions surrounding non-financial crises. The slow recovery from the 2008 crisis is in keeping with historical experience of recoveries from financial crises. We reach this conclusion by examin...

Terrorist threats and attacks provide major risks sources of public crises in the 21st century. New probabilistic computing technologies possess capability increasing success identifying terrorist solving cybersecurity encryption problems more efficiently. However, to identify threats, these would require use a large amount personal data, which cause potential concerns for privacy. We offer soc...

Liquidity problems lie at the heart of crises on financial markets as demonstrated in this paper by detailed descriptions of the stock market crash in 1987, the LTCM-crisis in 1998 and the financial market consequences of 11 September 2001. The events also demonstrate that modern central banks, in particular the U.S. Federal Reserve under AlanGreenspan, provided emergency liquidity to limit the...

Advertising campaigns carried out by firms post-health crises have been well documented in the literature, but the results, in terms of their effectiveness in recovering demand, are mixed. This paper examines the effect of risk-framed message appeal (aimed at reducing uncertainty about a product by elaborating upon new safety controls) on reductions in losses resulting from crises in comparison...

There are more possible vaccination interventions to mitigate the adverse health consequences of populations in crises than ever before, but recent reviews suggest delivering these vaccines has been fraught with difficulty. The decision to implement vaccination interventions in crises remains, more often than not, an exercise in satisficing. The sparse credible epidemiologic and effectiveness d...

the frequent occurrence of currency crises in recent years brought the early warning literature back in the researchers spotlight. in recent years, concept of an early warning system (ews) developed that should be able to identify various costly events, such as currency crises, early enough for policy makers to reduce the costs. this study attempted by using iran's economy quarterly data d...

Malignant hypertension still constitutes a medical emergency, particularly when complicated by renal failure, encephalopathy, or left ventricular failure. A shift to the right of the autoregulatory curve of cerebral blood flow (and probably of renal blood flow) is known to occur in patients with hypertension. Local cerebral edema, complicating the malignant phase, is likely to aggravate this tr...

Over the past two decades, financial market crises with similar features have occurred in different regions of the world. Unstable cross-market linkages during financial crises are referred to as financial contagion. We simulate the transmission of financial crises in the context of a model of market participants adopting various strategies; this allows testing for financial contagion under alt...