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Sudden Financial Arrest

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Sudden Financial Arrest

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Author: Caballero, Ricardo J
Department: Massachusetts Institute of Technology. Dept. of Economics
Publisher: Palgrave Macmillan
Date Issued: 2010-07
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.
URI: http://hdl.handle.net/1721.1/64707
ISSN: 2041-4161
2041-417X
Citation: Caballero, Ricardo J. "Sudden Financial Arrest." IMF Economic Review, 2010/07/20/online
Version: Author's final manuscript
Terms of Use: Creative Commons Attribution-Noncommercial-Share Alike 3.0
Detailed Terms: http://creativecommons.org/licenses/by-nc-sa/3.0/
Published As: http://dx.doi.org/10.1057/imfer.2010.1
Journal: IMF Economic Review

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