Sudden Financial Arrest

Author(s)
Caballero, Ricardo J.
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Abstract
There are striking and terrifying similarities between the sudden failure of a heart and that of a financial system. In the medical literature, the former is referred to as sudden cardiac arrest. By analogy, I refer to its financial counterpart as a sudden financial arrest. In this article I describe the latter and its treatment guided by its medical counterpart.
Description
This paper was presented as the Mundell-Fleming Lecture at the Tenth Jacques Polak Annual Research Conference at the International Monetary Fund in Washington held November 5–6, 2009.
Date issued
2010-07
URI
http://hdl.handle.net/1721.1/64707
Department
Massachusetts Institute of Technology. Department of Economics
Journal
IMF Economic Review
Publisher
Palgrave Macmillan
Citation
Caballero, Ricardo J. "Sudden Financial Arrest." IMF Economic Review, 2010/07/20/online
Version: Author's final manuscript
ISSN
2041-4161
2041-417X
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