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Banking Crises and Lender of Last Resort in Theory and Practice in Swedish History, 1850-2010

Ögren, Anders LU (2017) In Coping with financial crises p.47-76
Abstract
This paper is a first attempt to make a comparative analysis of Swedish banking crises over time – focusing on how the crises were handled. The empirical material is also compared to economic theories on crises management, i.e. lender of last resort and bank bailouts. The main questions are: How do the crises management relate to economic theories, i.e. to what extent did the crises management follow any economic rationale? To what extent were the crises management seen as necessary by authorities and market agents, and to what extent were the designs of the crises management made by market agents and/or by authorities? Were there any common features of the crises management over time that can explain why crises were handled in a certain... (More)
This paper is a first attempt to make a comparative analysis of Swedish banking crises over time – focusing on how the crises were handled. The empirical material is also compared to economic theories on crises management, i.e. lender of last resort and bank bailouts. The main questions are: How do the crises management relate to economic theories, i.e. to what extent did the crises management follow any economic rationale? To what extent were the crises management seen as necessary by authorities and market agents, and to what extent were the designs of the crises management made by market agents and/or by authorities? Were there any common features of the crises management over time that can explain why crises were handled in a certain fashion? I also make an estimation of the relative costs for the State to manage each crisis. (Less)
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author
organization
publishing date
type
Chapter in Book/Report/Conference proceeding
publication status
published
subject
in
Coping with financial crises
editor
Rockoff, Hugh; Suto, Isao; and
pages
30 pages
publisher
Springer Singapore
ISBN
978-981-10-6196-7
978-981-10-6195-0
language
English
LU publication?
yes
id
656f95a0-4322-4004-b075-8bdc22ddbbbd
date added to LUP
2017-12-18 14:23:36
date last changed
2017-12-20 14:16:50
@inbook{656f95a0-4322-4004-b075-8bdc22ddbbbd,
  abstract     = {This paper is a first attempt to make a comparative analysis of Swedish banking crises over time – focusing on how the crises were handled. The empirical material is also compared to economic theories on crises management, i.e. lender of last resort and bank bailouts. The main questions are: How do the crises management relate to economic theories, i.e. to what extent did the crises management follow any economic rationale? To what extent were the crises management seen as necessary by authorities and market agents, and to what extent were the designs of the crises management made by market agents and/or by authorities? Were there any common features of the crises management over time that can explain why crises were handled in a certain fashion? I also make an estimation of the relative costs for the State to manage each crisis.},
  author       = {Ögren, Anders},
  editor       = {Rockoff, Hugh and Suto, Isao},
  isbn         = {978-981-10-6196-7},
  language     = {eng},
  month        = {11},
  pages        = {47--76},
  publisher    = {Springer Singapore},
  series       = {Coping with financial crises},
  title        = {Banking Crises and Lender of Last Resort in Theory and Practice in Swedish History, 1850-2010},
  year         = {2017},
}