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By Garett Jones

Why do banks cave in? Are monetary platforms extra fragile in fresh many years? Can rules to mend the banking process do extra damage than reliable? what is the background of banking crises? With dozens of short, non-technical articles by means of economists and different researchers, Banking Crises deals solutions from various scholarly viewpoints.

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They conclude that the no-bubble hypothesis cannot be rejected. However, Evans (1991) shows that these standard linear econometric methods may fail to detect the explosive nonlinear patterns of periodically collapsing bubbles. West (1987) proposes a different test that exploits the fact that one can estimate the parameters needed to calculate the expected discounted value of dividends in two different ways. One way of estimating them is not affected by the bubble, the other is. Note that the accounting identity (1) can be rewritten as 1 1 ðptþ1 þ dtþ1 Þ À 1þr ðptþ1 þ dtþ1 À Et ½ptþ1 þ dtþ1 ŠÞ.

I suspect that future research will place greater emphasis on these open issues. MARKUS K.

Washington, DC: World Bank. M. 1931. The consequences to the banks of the collapse of money values. In Essays in Persuasion. W. Norton, 1963. P. 1978. Manias, Panics, and Crashes: A History of Financial Crises. New York: Basic Books. L. 1985. The failure of the bank of United States: a reappraisal. Explorations in Economic History 22, 402–16. P. 1975. John Maynard Keynes. New York: Columbia University Press. S. 2001. Prudential Supervision: What Works and What Doesn’t. Chicago: University of Chicago Press.

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