"Financial crises are systemic occurring simultaneously in different economies. In this book Guillermo Calvo focuses on liquidity factors as a commonality in financial crises. Specifically, he examines the role of 'liquidity crunch' in triggering crises. Calvo shows that a sharp…
The work claims that liquidity issues are at the heart of recent financial crises, and their analysis helps to explain phenomena that are alien to mainstream macroeconomic models.
"Financial crises are systemic occurring simultaneously in different economies. In this book Guillermo Calvo focuses on liquidity factors as a commonality in financial crises. Specifically, he examines the role of 'liquidity crunch' in triggering crises. Calvo shows that a sharp…
An examination of Liquidity Crunch in triggering and characterizing financial crises.