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IMF Seminars, January 1, 1901

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Bibliographic details

• Published: January 1, 1901

Overview and purpose

• The conference reviewed lessons on the antecedents of financial crises, policy responses for banks, households, financial institutions, and sovereign restructurings, and their aftermath.
• Coverage included banking, balance-of-payments, and sovereign crises.
• The conference brought together leading economists to provide perspectives drawing on their work on financial crises.
• The IMF has extensively analyzed causes and consequences of financial crises and continues the task of identifying best policy responses.

Program and speakers

• 2:15–2:30 p.m. — Opening Remarks
  • David Lipton, Deputy Managing Director (IMF)
• 2:30–3:00 p.m. — Keynote Address
  • Carmen Reinhart, John F. Kennedy School of Government, Harvard University, "Lessons from Sovereign Crises"
• Panel (Chair: Olivier Blanchard, Economic Counsellor and Director of the Research Department (IMF))
  • Alan Taylor – University of Virginia, "External Imbalances and Financial Crises"
  • Hyun Shin – Princeton University, "Procyclicality and the Search for Early Warning Indicators"
  • José De Gregorio – Universidad de Chile, "Resilience in Latin America: Lessons from Macroeconomic Management and Financial Policies"
• Conference organizers: Stijn Claessens, Luc Laeven, Ayhan Kose, and Fabián Valencia.

Planned publication and contents

• The contributions by the speakers, together with a selective set of IMF research pieces on financial crises, will be published in a book edited by Stijn Claessens, M. Ayhan Kose, Luc Laeven and Fabián Valencia.
• Book structure and chapter list:
  • Introduction and Overview of Financial Crises
  • 1. Stijn Claessens and M. Ayhan Kose: Financial Crises: Explanations, Types, and Implications
  • 2. Luc Laeven and Fabián Valencia: Systemic Banking Crises
  • Lessons on Crisis Management
  • 3. Carmen Reinhart: Lessons from Sovereign Crises
  • 4. Hyun Shin: Leverage Cycles around Financial Crises
  • 5. Jose De Gregorio: Lessons from Financial Crises in Emerging Markets for Advanced Countries
  • 6. Alan Taylor: Perspectives on the Role of Imbalances and External Factors for Financial Crises
  • Short-Run Effects: Crises, Recessions and Recoveries
  • 7. Stijn Claessens, M. Ayhan Kose and Marco Terrones: The Recent Global Financial Crisis: How Similar? How Different? How Costly?
  • 8. Marco E. Terrones, Alasdair Scott, and Prakash Kannan: From Recession to Recovery
  • Medium-term Effects: Economic Growth
  • 9. Ravi Balakrishnan, Petya Koeva Brooks, Daniel Leigh, Irina Tytell, and Abdul Abiad: What's the Damage? Medium-term Effects of Crises
  • 10. Abdul Abiad, Giovanni Dell’Ariccia, and Grace Li: Creditless Recoveries
  • Policy Measures to Prevent Booms, Mitigate Busts, and Avoid Financial Crises
  • 11. Giovanni Dell’Ariccia, Deniz Igan, Luc Laeven and Hui Tong: Policies for Macrofinancial Stability: Options to Deal with Credit Booms
  • 12. Chris Crowe, Giovanni Dell’Ariccia, Deniz Igan, and Pau Rabanal: Policies for Macroeconomic Stability: Managing Real Estate Booms and Busts
  • 13. Luc Laeven and Fabián Valencia: Resolution of Banking Crises: The Good, the Bad, and the Ugly
  • 14. Emanuele Baldacci, Sanjeev Gupta, and Carlos Mulas-Granados: How Effective is Fiscal Policy Response in Financial Crises?
  • Policy Measures to Mitigate Impact of Financial Crises and How to Restructure Banks, Sovereigns and Households
  • 15. Augustin Landier and Kenichi Ueda: The Economics of Bank Restructuring: Understanding the Options
  • 16. Stijn Claessens, Ceyla Pazarbasioglu, Luc Laeven, Marc Dobler, Fabián Valencia, Oana Nedelescu, and Katharine Seal: Crisis Management and Resolution: Early Lessons during the Global Financial Crisis
  • 17. Luc Laeven and Thomas Laryea: Principles of Household Debt Restructuring
  • 18. Deniz Igan, Daniel Leigh, John Simon, and Petia Topalova: Repairing Household Balance Sheets
  • 19. Udaibir S. Das, Michael G. Papaioannou, and Christoph Trebesch: Sovereign Debt restructurings: A Survey, New Database, and Lessons on Sovereign Restructuring

Content in this bundle

• Ch10pdf (PDF)
• Ch11pdf (PDF)
• Ch12pdf (PDF)
• Ch13pdf (PDF)
• Ch14pdf (PDF)
• Ch15pdf (PDF)
• Ch16pdf (PDF)
• Ch17pdf (PDF)
• Ch18pdf (PDF)
• Ch19pdf (PDF)
• Ch2pdf (PDF)
• Ch6pdf (PDF)
• Ch8pdf (PDF)
• Ch9pdf (PDF)
• Ck2pdf (PDF)
• Ckpdf (PDF)
• Degregpdf (PDF)
• Dl1pdf (PDF)
• Posterpdf (PDF)
• Shinpdf (PDF)
• Glossaryr (PDF)

References

• Несинхронность и расходящаяся динамика восстановления могут поставить финансовую стабильность под угрозу