When You’ve Seen One Financial Crisis…

14 Pages Posted: 15 Nov 2009

See all articles by Simon van Norden

Simon van Norden

HEC Montreal - Department of Finance; CIRANO; University of Montreal - Center for Interuniversity Research in Econometrics

Date Written: September 1, 2009

Abstract

Financial market crises may differ, but severe banking crises typically share many common features. The most recent crisis shares many features with the US Savings and Loan crisis of the 1980s and early 90s as well as some features of the LTCM crisis of 1998. More generally, banking crises are commonly associated with real estate market collapses. Effectively reducing the risk of future crisis requires some combination of reducing the potential size of real estate market collapses and the banking sector’s exposure to real estate losses.

Keywords: financial crisis, banking crisis, bubbles, real estate, financial regulation, regulatory reform

Suggested Citation

van Norden, Simon, When You’ve Seen One Financial Crisis… (September 1, 2009). CIRANO - Scientific Publications 2009s-42, Available at SSRN: https://ssrn.com/abstract=1505448 or http://dx.doi.org/10.2139/ssrn.1505448

Simon Van Norden (Contact Author)

HEC Montreal - Department of Finance ( email )

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