Preventing Financial Crises: An International Perspective

55 Pages Posted: 17 Jul 2000 Last revised: 14 Sep 2010

See all articles by Frederic S. Mishkin

Frederic S. Mishkin

Columbia Business School - Finance and Economics; National Bureau of Economic Research (NBER)

Date Written: February 1994

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

Mishkin, Frederic S., Preventing Financial Crises: An International Perspective (February 1994). NBER Working Paper No. w4636. Available at SSRN: https://ssrn.com/abstract=226953

Frederic S. Mishkin (Contact Author)

Columbia Business School - Finance and Economics ( email )

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National Bureau of Economic Research (NBER)

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