Artykuły w czasopismach na temat „Crises and panics”
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1
Baron, Matthew, Emil Verner i Wei Xiong. "Banking Crises Without Panics*". Quarterly Journal of Economics 136, nr 1 (8.10.2020): 51–113. http://dx.doi.org/10.1093/qje/qjaa034.
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Abstract We examine historical banking crises through the lens of bank equity declines, which cover a broad sample of episodes of banking distress with and without banking panics. To do this, we construct a new data set on bank equity returns and narrative information on banking panics for 46 countries over the period of 1870 to 2016. We find that even in the absence of panics, large bank equity declines are associated with substantial credit contractions and output gaps. Although panics are an important amplification mechanism, our results indicate that panics are not necessary for banking crises to have severe economic consequences. Furthermore, panics tend to be preceded by large bank equity declines, suggesting that panics are the result, rather than the cause, of earlier bank losses. We use bank equity returns to uncover a number of forgotten historical banking crises and create a banking crisis chronology that distinguishes between bank equity losses and panics.
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Bacchetta, Philippe, Cédric Tille i Eric van Wincoop. "Self-Fulfilling Risk Panics". American Economic Review 102, nr 7 (1.12.2012): 3674–700. http://dx.doi.org/10.1257/aer.102.7.3674.
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Recent crises have seen large spikes in asset price risk. We propose an explanation for such panics based on self-fulfilling shifts in beliefs about risk. A negative link between the current level and the future risk of an asset price leads to a circular relationship between the stochastic process of asset price risk and the price itself. Self-fulfilling shifts in perceived risk can be coordinated around a pure sunspot or around a macro fundamental. In a risk panic, a macro fundamental can be a focal point that affects both the magnitude of the panic and subsequent shifts in perceived risk.
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HURD, T. R. "BANK PANICS AND FIRE SALES, INSOLVENCY AND ILLIQUIDITY". International Journal of Theoretical and Applied Finance 21, nr 06 (wrzesień 2018): 1850040. http://dx.doi.org/10.1142/s0219024918500401.
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Banking system crises are complex events that in a short span of time can inflict extensive damage to banks themselves and to the external economy. The crisis literature has so far identified a number of distinct effects or channels that can propagate distress contagiously both directly within the banking network itself and indirectly, between the network and the external economy. These contagious effects, and the potential events that trigger these effects, can explain most aspects of past crises, and are thought to be likely to dominate future financial crises. Since the current international financial regulatory regime based on the Basel III Accord does a good job of ensuring that banks are resilient to such contagion effects taken one at a time, systemic risk theorists increasingly understand that future crises are likely to be dominated by the spillovers between distinct contagion channels. The present paper aims to provide a model for systemic risk that is comprehensive enough to include the important contagion channels identified in the literature. In such a model one can hope to understand the dangerous spillover effects that are expected to dominate future crises. To rein in the number and complexity of the modelling assumptions, two requirements are imposed, neither of which is yet well-known or established in the main stream of systemic risk research. The first, called stock-flow consistency, demands that the financial system follows a rigorous set of rules based on accounting principles. The second requirement, called asset-liability symmetry, implies that every proposed contagion channel has a dual channel obtained by interchanging assets and liabilities, and that these dual channel pairs have a symmetric mathematical representation.
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Hier, Sean P. "Moral panic and the new neoliberal compromise". Current Sociology 67, nr 6 (18.03.2019): 879–97. http://dx.doi.org/10.1177/0011392119829511.
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Moral panics are conventionally explained as socially regressive overreactions to objectively minor problems. In the early 2000s, moral panics were recast as collective grievances that arise from perceived crises in the moral regulation of everyday life. Emphasizing neoliberal forms of entrepreneurial risk management, the panic-as-regulation perspective provides ways of thinking beyond some of the limitations associated with conventional perspectives. This article shows how the new neoliberal compromise, characterized by ongoing submission to the rule of capital in the absence of familiar ways of securing hegemonic consensus, is calling attention to the importance of theorizing the conjunctural norms of personal responsibility that underscore the panic-as-regulation perspective. By locating market-oriented subjectivities in the wider trajectory of neoliberalism, we achieve two things: first, a clearer understanding of the normative phase of neoliberal rule in whose image the panic-as-regulation perspective is crafted; second, a stronger position to develop insights into post-hegemonic claims-making activities that are appearing across the political and cultural spectrums.
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Ahmad, Sanep. "‘Banking Panics’ and Islamic Finance Principles: Lessons from the Current Crisis". ICR Journal 1, nr 2 (15.12.2009): 358–61. http://dx.doi.org/10.52282/icr.v1i2.753.
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Clearly, the recent ‘bank panics’ and global economic crisis occurred mainly due to the result of debt defaults in subprime mortgages. Firstly, default by home buyers for their loans repayment to the banks and secondly default by banks for their bond repayment in the mortgage bond market. If debt defaults can be avoided in the first place, bank panics and economic crisis will most likely not happen. This means that the origin of the problem is related to bank defaults in the Sub-Prime Model which arises due to poor credit evaluation by banks. Therefore the solution for the current crises should be focused on ways of avoiding debt defaults by borrowers.
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Gertler, Mark, Nobuhiro Kiyotaki i Andrea Prestipino. "Banking Panics as Endogenous Disasters and the Welfare Gains from Macroprudential Policy". AEA Papers and Proceedings 110 (1.05.2020): 463–69. http://dx.doi.org/10.1257/pandp.20201022.
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We study the welfare effects of macroprudential policy in a macroeconomic model of banking instability. Banking panics are endogenous economic disasters caused by banks' excessive leverage during credit booms. The model matches the frequency and severity of banking panics and the statistical relationship between panics and credit booms. A simple countercyclical macroprudential rule can achieve non-negligible welfare gains. These gains rise substantially when the run probability increases during a credit boom and, ex post, if a run is actually avoided. In a model without panics in which financial crises are driven by fundamentals only, the gains are much more limited.
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Calomiris, Charles W., i Joseph R. Mason. "Fundamentals, Panics, and Bank Distress During the Depression". American Economic Review 93, nr 5 (1.11.2003): 1615–47. http://dx.doi.org/10.1257/000282803322655473.
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We assemble bank-level and other data for Fed member banks to model determinants of bank failure. Fundamentals explain bank failure risk well. The first two Friedman-Schwartz crises are not associated with positive unexplained residual failure risk, or increased importance of bank illiquidity for forecasting failure. The third Friedman-Schwartz crisis is more ambiguous, but increased residual failure risk is small in the aggregate. The final crisis (early 1933) saw a large unexplained increase in bank failure risk. Local contagion and illiquidity may have played a role in pre-1933 bank failures, even though those effects were not large in their aggregate impact.
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Choe, Yongshik, i Hyun-jung Kim. "A New Approach to the Cause and Progress of Financial Crisis for the Management of a Firm and the Nation". Journal of International Business and Economy 21, nr 1 (1.07.2020): 54–75. http://dx.doi.org/10.51240/jibe.2020.1.4.
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In this paper, we try to reveal the principles that cause the processing stages of economic crisis as follows. First, most of economic crises are caused by a financial crisis because financial variables have the biggest variation in the economy as the principles of credit creation and credit destruction work altogether. Second, most of financial crises go through three stages of manias, panics, and crashes as Kindleberger clarified. Third, manias are caused by the time-shift of demand from the future which increases further the current demand and raises the prices of real estate and stocks. Fourth, panics are caused by the hollowing-out of demand which is caused eventually by the demand time-shift, with bubbles broken. Fifth, crashes are caused by the principle of credit destruction which decreases the money amount by the credit multiplier, resulting in a financial crisis. When this principle of financial crisis is understood well, it would be possible to foresee the development of the financial crisis and to prevent some damages such as a bankruptcy due to a sudden lack of liquidity. Then the crisis management would be performed better than before. This paper would contribute to a successful business management and to the evolution of economics.
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Világi, Balázs. "The Reasons Behind Banking Crises and their Real Economy Impact : Achievements of the 2022 Nobel Laureates in Economics". Financial and Economic Review 22, nr 1 (2023): 126–42. http://dx.doi.org/10.33893/fer.22.1.126.
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In 2022, the Nobel Prize in economics was awarded jointly to Ben S. Bernanke, Douglas W. Diamond and Philip H. Dybvig, for their research on the financial system that shed light on the reasons for, and the consequences of, bank panics. Diamond and Dybvig showed that the banking system provides socially useful services through maturity transformation and delegated monitoring, and they also pointed out that maturity transformation made the banking system fundamentally vulnerable, which, if left unregulated, may experience bank panics. Bernanke demonstrated the macroeconomic significance of the banking system and analysed the negative macroeconomic impact of bank panics. Their research helped lay the foundations of a regulatory environment that fosters the efficient functioning of the financial system without bank panics.
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Nitschke, Christoph. "THEORY AND HISTORY OF FINANCIAL CRISES: EXPLAINING THE PANIC OF 1873". Journal of the Gilded Age and Progressive Era 17, nr 2 (kwiecień 2018): 221–40. http://dx.doi.org/10.1017/s1537781417000810.
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This article demonstrates the value of a joint application of the theory and history of financial crises of 1873. It weaves together concepts of financial and banking panic theory with a narrative explanation of the causes and triggers of the Panic of 1873. Basic concepts of economic theory, it suggests, can act as both a framework and a starting point to the historical interpretation of a financial panic.Employing such theory, however, ultimately reinforces the need for contextual cultural explanations of financial panics. A theoretically grounded view of the cultural history of capitalism—and its sudden crises—can help explain why and how some structures of exchange systematized and conditioned human confidence within specific historical contexts.Drawing together theoretical models of banking panic and historical evidence, this article thus emphasizes the importance of Gilded Age money-making culture for understanding the impact of Philadelphia financier Jay Cooke upon the causes of the Panic of 1873. Cooke's sudden and unexpected bankruptcy caused the deconstruction of confidence on the stock exchange and throughout the country. The cultural idiosyncrasy of Cooke's outstanding position in all matters of American finance multiplied the asymmetry that occurred in the wake of a major information shock.
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Edelstein, Michael D., i Robert H. Edelstein. "International Real Estate Review". International Real Estate Review 23, nr 3 (30.09.2020): 311–36. http://dx.doi.org/10.53383/100304.
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The fundamental message of this paper is simple and fourfold. The world has endured many economic - financial frenzies, panics, and crises that, at first glance, appear to be remarkable and special, but upon closer examination, mirror each other in several ways. Typically, these historical economic crises are resultant of excessive debt, contain a trigger event that creates a "crisis in confidence", suffer a boom bust cycle with significantly enhanced financial and economic volatilities, and generate a boom bust cycle that leads to major contagion effects across the financial and real sectors and spreads internationally. Our analysis as a case study examines and demonstrates that the Great Financial Crisis of 2007-2008 exhibits extraordinary causal features and similarities with the Long Depression of 1873.
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Tarantino, Giovanni. "'The Sky in Place of The Nile': Climate, Religious Unrest and Scapegoating in Post-Tridentine Apulia". Environment and History 28, nr 3 (1.08.2022): 491–511. http://dx.doi.org/10.3197/096734022x16551974226135.
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This article investigates how extremely adverse climatic and weather conditions in early modern southern Italy played a part in disrupting social coexistence among groups and individuals of different confessions and beliefs in what until then had been top-down sanctioned or tolerated multi-confessional communities. It focuses on the dramatic fate of the Waldensian colonies in Calabria and Apulia, and the little-studied case of witchcraft panic that broke out in the town of Bitonto in 1593. By examining different ways of dealing with environmental crises (rogatory processions, apocalyptic scapegoating, witchcraft panics), the article contributes to a history of intolerance from the 'inside out'.
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Carlson, Mark, i David C. Wheelock. "Interbank Markets and Banking Crises: New Evidence on the Establishment and Impact of the Federal Reserve". American Economic Review 106, nr 5 (1.05.2016): 533–37. http://dx.doi.org/10.1257/aer.p20161044.
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This paper examines the impact of the Federal Reserve's founding on seasonal pressures and contagion risk in the interbank system. Deposit flows among classes of banks were highly seasonal before 1914; amplitude and timing varied regionally. Panics interrupted normal flows as banks throughout the country sought funds from the central money markets simultaneously. Seasonal pressures and contagion risk in the system were lower by the 1920s, when the Fed provided seasonal liquidity and reserves. Panics returned in the 1930s, due in part to shocks from nonmember banks and because the Fed's decentralized structure hampered a vigorous response to national crises.
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Isakov, K. S. "Sovereign Defaults and Banking Crises". Zhurnal Economicheskoj Teorii 18, nr 1 (2021): 29–47. http://dx.doi.org/10.31063/2073-6517/2021.18-1.2.
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This research is aimed at contributing to the endogenization of default costs. Higher exposure of a banking system to sovereign bonds increases the likelihood of banking panics due to sovereign defaults. Following (Gertler, Kiyotaki, 2015), the research models the possibility of a banking crisis occurring after a sovereign default. While a higher exposure of a banking system is associated with potential losses, this mechanism creates a stronger commitment to honor the sovereign debt. A marginal increase in the sovereign debt raises the ex-post costs of default through a higher likelihood of a banking crisis, thus making a default option less desirable. This mechanism might increase investors’ confidence and resolve the coordination problem of self-fulfilling crises. In part, this may explain the findings of Bocola and Dovis (2019), who claim that non-fundamental risk played only a limited role during the European sovereign debt crisis. Furthermore, as opposed to the standard solution of the coordination problem — to issue debt of longer maturity — a government can resolve this problem by forcing its banking system to hold more sovereign bonds.
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Bennett, Cary. "Drugs, moral panics and the dispositive". Journal of Sociology 54, nr 4 (6.09.2017): 538–56. http://dx.doi.org/10.1177/1440783317727877.
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The concept of ‘moral panics’ continues to be used as a framework for analysing the causes, structures and functions of social and political crises. Nonetheless, as an analytical tool, such a framework is limited in its capacity to explain the ongoing and interconnected relationships between drugs and society. Drawing first on an interdiscursive and intertextual framework, the field of analysis is broadened to consider how recent drug panics in Australia depend upon, signify and condense wider social and historical anxieties around drugs and other social problems. However, such an approach also has its limitations given that the play of intertextuality is conditioned by relations of power at the level of what Foucault calls a ‘dispositive’, a historically contingent configuration that strategically orientates our responses to the problem. Three dispositional drug-related prototypes are considered and how they work together to shape, reinforce and condition the drug problem and our responses to it.
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Temin, Peter. "Transmission of the Great Depression". Journal of Economic Perspectives 7, nr 2 (1.05.1993): 87–102. http://dx.doi.org/10.1257/jep.7.2.87.
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To a first approximation, the question of how the Great Depression spread from country to country is short and straightforward: fixed exchange rates under the gold standard transmitted negative demand shocks. The first half of this paper will describe current thinking about the relationship between the gold standard and the Great Depression. The second half of the paper will look at a phenomenon not included in this first approximation: financial crises. Many have noted that banking panics and currency crises are bad for national economies, but few have tried to model their international spread.
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James, Harold. "1929: The New York Stock Market Crash". Representations 110, nr 1 (2010): 129–44. http://dx.doi.org/10.1525/rep.2010.110.1.129.
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Stock market panics involve major psychological elements, and fear appears in the form of a reference to past events that seem to have analogies. Not only was 1929 an example of this process, in that the participants thought in terms of previous crises, but 1929 has also become the standard against which subsequent events are judged.
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Davies, Hannah Catherine. "‘Mingled in an almost inextricable confusion’: the panics of 1873 and the experience of globalization". Journal of Global History 15, nr 2 (25.06.2020): 291–309. http://dx.doi.org/10.1017/s1740022820000054.
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AbstractThis article analyses the transatlantic financial crises of 1873 from the vantage point of the three countries that were most affected by it, Austria, Germany, and the United States, focusing on the experience of economic globalization and disintegration for actors on both sides of the Atlantic. It compares the perception of financial commentators and financiers of the panics in 1873, when the experience of integration was asymmetrical, and more pronounced in Germany and Austria than in the United States. It further argues that this asymmetrical experience of contagion shaped the monetary debates of the 1870s in all three countries. Focusing on the interrelationship and coexistence of experiences of integration and isolation, the article maintains that, despite the panics’ near-synchronicity, financial globalization remained difficult to see.
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Shachmurove, Yochanan. "A historical overview of financial crises in the United States". Economics and Business Review 11, nr 1 (30.03.2011): 28–47. http://dx.doi.org/10.18559/ebr.2011.1.864.
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One of the few constants since the United States declared its independence is the presence of frequent financial crises with similar causes. In the nineteenth century, these panics were frequent with eight occurring over the century. However, following the Second World War there was a period of relative calm, which may have led to complacency. The Savings and Loans and the current financial crises have shown that these events remain a very real threat to economic stability. I have greatly benefitted from research assistance by Zach Winston from Pennsylvania State University and Gregory Kauffman from the University of Pennsylvania. (original abstract)
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Krychevska, Tetiana. "Development of micro- and macroeconomic analysis of financial intermediation Article 2. Macroeconomic analysis of the role of financial intermediaries in the works of B. Bernanke and the application of financial intermediation theory in combating financial crises". Ekonomìčna teorìâ 2022, nr 2 (30.06.2023): 71–104. http://dx.doi.org/10.15407/etet2023.02.071.
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The second of two articles which reveal the theoretical and practical significance of the researches awarded 2022 Sveriges Riksbank Prize in Economic Sciences. The author shows the theoretical and practical influence of B. Bernanke's research on the non-monetary effects of the banking crisis on the course of the Great Depression, which marked the beginning of recognition and measurement of the macroeconomic effects of financial intermediaries as institutions performing important functions under information asymmetry. The peculiarities of the global financial crisis and the latest crisis processes in the banking sector, which are taking place in the conditions of a change in the global monetary environment, are considered in light of the laureates' works. This change – a rapid tightening of monetary policy in developed economies was a reaction not only to global price shocks associated with the full-scale Russia's invasion of Ukraine, but also to the previous delay in anti-inflationary efforts in the conditions of a combination of supply shocks with monetary demand stimulation and monetary authorities' faith in well-anchored inflationary expectations. The article considers the extent to which the crisis processes at Silicon Valley Bank, Signature Bank, First Republic Bank and Credit Suisse are described by the models developed by the 2022 Nobel laureates. Based on that analysis, the author adjusts the answer to the question about the role of banking panics in the market economy. Probable directions for reforming banking regulation in the USA are characterized. It is substantiated that the government faces a complex set of tasks: to minimize social losses from banking panics; to prevent large business losses that would have broad macroeconomic consequences; and to prevent irrational contagion with panic moods and panic as a self-fulfilling prophecy, without eliminating the very possibility of depositors fleeing from a bank with poor management. It is shown that increasing and complicating the public presence in the financial sector has an extremely powerful and difficult to assess influence on the incentives of financial intermediaries, which embody the latter’s nature as special economic entities.
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Niyitegeka, Olivier. "Testing Financial Contagion in Emerging Countries: Evidence From BRICS Countries". International Journal of Financial Research 13, nr 1 (10.02.2022): 42. http://dx.doi.org/10.5430/ijfr.v13n1p42.
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This study uses a Multivariate Generalised Autoregressive Conditional Heteroskedasticity (MGARCH) model to examine the pure form of financial contagion in BRICS countries (Brazil, Russia, India, China, and South Africa) in the wake of two major international financial crises namely the U.S. sub-prime and Eurozone sovereign debt crises (EZDC). The pure form of contagion refers to the spread of shocks that are unrelated to macroeconomic fundamentals and are simply the product of irrational phenomena like panics, herd behaviour, loss of confidence, and risk aversion. To investigate contagion the present study analyses the pairwise dynamic cross-correlation between the US and Eurozone equity markets as ‘source’ (ground zero) markets and individual BRICS stock markets as ‘target’ markets.For the each of the two crises that are examined the sets of data used, were divided into two sub-periods (1) the crisis period and (2) the stable period. For the Sub-prime crisis, the findings of the present study indicate the presence of cross-conditional volatility between the US and BRICS stock markets. The results also showed that the cross-conditional volatility coefficient is high in magnitude during periods of financial upheaval compared to a tranquil period, hence the conclusion that there was financial contagion during in BRICs stock markets (except in Chinese market) following the U.S. sub-prime crisis. As for the EZDC, equity markets in Brazil, India and China seemed to react equally (in both the ‘crisis’ and ‘post-crisis’ periods) from shocks emanating from European equity market. Hence the conclusion that there was no contagion in Brazil, India and China following the Eurozone sovereign debt crisis.
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Allen, Franklin. "Modelling Financial Instability". National Institute Economic Review 192 (kwiecień 2005): 57–67. http://dx.doi.org/10.1177/002795010519200107.
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Financial instability can have large adverse effects on an economy. One major cause of instability is asset price bubbles. This paper starts by considering how such bubbles can arise due to the expansion of money and credit. The ways in which subsequent financial instability occurs are then discussed. Banking crises can arise due to panics or as a result of the business cycle. Contagion and financial fragility can cause small disturbances to have large effects. Finally, policy issues are touched upon.
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Greig, Alan. "The Polycrisis and the Centaur: Hegemony, Masculinity and Racialisation". Feminist Encounters: A Journal of Critical Studies in Culture and Politics 8, nr 1 (1.03.2024): 21. http://dx.doi.org/10.20897/femenc/14232.
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The multiplicity of crises that mark the contemporary era, the polycrisis, also constitutes a crisis of hegemony. This article explores the functions of gendered racialisation in elite management of this hegemonic crisis, with reference to Gramsci’s use of the figure of the Centaur, a hybrid of humanity and animality. It discusses the ways in which this hybrid evokes racialising tropes of human bestiality to express the dynamic interplay of consent and coercion through which hegemony is maintained. Moral panics in relation to the threat of the racialised male Other, variously figured as migrant, terrorist and/or criminal, draw on a bestialised humanisation of racialised masculinities in order to elicit consent to the exercise of coercive authority. Such authority in turn invokes a plasticity of excess/deficiency of the racialised male Other to sanction exclusionary and exterminatory violence. To seize the political opportunity of the current moment to reimagine gender justice and social justice together requires a deeper engagement with the deployment of racialised masculinities in securing consent to coercive authority amid the deepening polycrisis.
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Thompson, Michael D. "The wages of acclimation". Human Remains and Violence 7, nr 2 (25.11.2021): 19–40. http://dx.doi.org/10.7227/hrv.7.2.3.
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Epidemic disease regularly tore through nineteenth-century American cities, triggering public health crises and economic upheaval. These epidemic panics also provoked new racialised labour regimes, affecting the lives of innumerable working people. During yellow fever outbreaks, white authorities and employers preferred workers of colour over ‘unacclimated’ white immigrants, reflecting a common but mistaken belief in black invulnerability. This article chronicles enslaved burial labourers in antebellum Virginia, who leveraged this notion to seize various privileges – and nearly freedom. These episodes demonstrate that black labour, though not always black suffering or lives, mattered immensely to white officials managing these urban crises. Black workers were not mere tools for protecting white wealth and health, however, as they often risked torment and death to capitalise on employers’ desperation for their essential labour. This history exposes racial and socioeconomic divergence between those able to shelter or flee from infection, and those compelled to remain exposed and exploitable.
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Krause, Laurence Alan. "Walter Bagehot’s Lombard Street: An Interpretation". Review of Radical Political Economics 51, nr 4 (31.07.2019): 572–80. http://dx.doi.org/10.1177/0486613419862705.
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Walter Bagehot’s contribution to macroeconomics in Lombard Street is misunderstood and underappreciated. To remedy this, I reinterpret his work, including his famous policy “rules,” by piecing together his larger theoretical framework. That framework incorporates: (1) a “Lombard Street” economy, consisting of a permissive lending system, capitalists in need of credit, and a financial center which attracts large inflows of foreign capital; (2) a rigid policy regime built on a gold standard; and (3) a central bank with a dual objective of keeping the nation’s currency convertible into gold and backstopping a crisis-prone economy. Bagehot argues that an economy with this structure is vulnerable to two distinct crises. The first is a speculative attack on the gold standard by foreigners, as they seek to convert their money into gold. And the second is a run on the credit system by nervous participants. Guided by the “right principles,” Bagehot insists that an active central bank can both preserve the gold standard and prevent recurrent financial panics. JEL Classifications: B31, E58, N23
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Husbands, Christopher T. "Crises of national identity as the ‘new moral panics’: Political agenda‐setting about definitions of nationhood1". Journal of Ethnic and Migration Studies 20, nr 2 (styczeń 1994): 191–206. http://dx.doi.org/10.1080/1369183x.1994.9976419.
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Caballero, Ricardo J. "Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome". Journal of Economic Perspectives 24, nr 4 (1.11.2010): 85–102. http://dx.doi.org/10.1257/jep.24.4.85.
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The recent financial crisis has damaged the reputation of macroeconomics, largely for its inability to predict the impending financial and economic crisis. To be honest, this inability to predict does not concern me much. It is almost tautological that severe crises are essentially unpredictable, for otherwise they would not cause such a high degree of distress. What does concern me about my discipline is that its current core —by which I mainly mean the so-called dynamic stochastic general equilibrium approach—has become so mesmerized with its own internal logic that it has begun to confuse the precision it has achieved about its own world with the precision that it has about the real one. This is dangerous for both methodological and policy reasons. To be fair to our field, an enormous amount of work at the intersection of macroeconomics and corporate finance has been chasing many of the issues that played a central role during the current crisis, including liquidity evaporation, collateral shortages, bubbles, crises, panics, fire sales, risk-shifting, contagion, and the like. However, much of this literature belongs to the periphery of macroeconomics rather than to its core. I will discuss the distinction between the core and the periphery of macroeconomics as well as the futile nature of the integrationist movement—that is, the process of gradually bringing the insights of the periphery into the dynamic stochastic general equilibrium structure. I argue that the complexity of macroeconomic interactions limits the knowledge we can ever attain, and that we need to place this fact at the center of our analysis. We should consider what this complexity does to the actions and reactions of the economic agent, and seek analytical tools and macroeconomic policies that are robust to the enormous uncertainty to which we are confined.
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Dreher, Nan H. "The Virtuous and the Verminous: Turn-of-the-Century Moral Panics in London's Public Parks". Albion 29, nr 2 (1997): 246–67. http://dx.doi.org/10.2307/4051812.
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Public parks offered many attractions to Victorian Londoners: natural beauty, healthful fresh air, facilities for sports and socializing, and grounds for civic pride. The efforts of individuals, private groups, and government officials increased the number of public parks in the metropolis from about a dozen at mid-century to more than 200 in 1898. Parks became integral parts of city life and stimulated the development of a diverse community of park users. These citizens did not hesitate to express their views about appropriate behavior for public space, demonstrating their role in the public sphere. While park users differed in class, gender, age, religion, and politics, most agreed that the city's public spaces should encourage “respectability” and good citizenship, especially as an example to children. When these values, vaguely defined though they were, seemed threatened by specific park behaviors, the community displayed a remarkable consensus. Two particular types of park use—public displays of affection by “courting couples” and the presence of “verminous persons” (mostly vagrants)—aroused public opinion in the 1890s and early 1900s to moral panic. Reluctant royal and municipal park authorities were pressured into passing more restrictive park laws in both cases, though the “problems” themselves did not disappear.This article explores how these crises developed and why public reaction to them was so vehement. The material reality behind the “courting couples” and “verminous persons” crises, as far as can be determined, seems not to justify the level of outrage that occurred. The strength of public reaction must reflect the extreme sensitivity of a culturally unstable community in the process of redefining itself and its values. Public parks changed patterns of social interaction in the late Victorian city, bringing diverse citizens into proximity by creating new common spaces. Early nineteenth-century class discrimination against workers and the poor in public space then gave way to a new form of exclusion that emphasized individual behavior rather than inherited status.
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Bouchetara, Mehdi, Abdelkader Nassour i Sidi Eyih. "Macroprudential policy and financial stability, role and tools". Financial Markets, Institutions and Risks 4, nr 4 (2020): 45–54. http://dx.doi.org/10.21272/fmir.4(4).45-54.2020.
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The aim of macroprudential policy is to ensure financial stability by avoiding the outbreak of banking crises, which have a dangerous effect on the economy. Is macroprudential policy effective in the face of banking crises and systemic risks? The macroprudential policy has received significant interest from policy-makers and researchers. A few developing countries were using macroprudential policy tools well before the 2008 financial crisis, but significant progress has been made thereafter in both emerging and industrialized economies to put in place specific institutional settings for macroprudential policy. The fundamental objective of macroprudential policy is to maintain the stability of the financial system by making it more resistant and preventing the risk build-up. The objective of this paper is to analyze the important role of macroprudential policy in ensuring overall financial stability. Since the financial crisis of 2008, macroprudential policy has been increasingly used across economies. These measures aim at smoothing financial cycles and thereby mitigating the impact on the real economy, thereby allowing monetary policy to focus on price stability and promote growth and full employment. Macroprudential policy instruments fall into two categories, depending on their purpose, namely, to prevent procyclicality or to enhance the resilience and soundness of the financial system against shocks. The first category of instruments is used to stop bubbles from forming and smooth cycles, i.e. to force the debt-equity of economic operators on an income basis to prevent unsustainable credit bubbles, or to require dynamic loss provisioning rules. The second category of macro-prudential policy is to improve the resilience to shocks, such as capital surcharges for systemic institutions or the requirement to hold liquid assets to cope with market panics, and to make the financial system less complex. Keywords: macroprudential policy, financial stability, tools and measures, systemic risks.
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PILIAVSKY, ANASTASIA. "The Moghia Menace, or the Watch Over Watchmen In British India". Modern Asian Studies 47, nr 3 (12.11.2012): 751–79. http://dx.doi.org/10.1017/s0026749x11000643.
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AbstractThis paper contributes to the history of ‘criminal tribes’, policing and governance in British India. It focuses on one colonial experiment—the policing of Moghias, declared by British authorities to be ‘robbers by hereditary profession’—which was the immediate precursor of the first Criminal Tribes Act of 1871, but which so far altogether has passed under historians’ radar. I argue that at stake in the Moghia operations, as in most other colonial ‘criminal tribe’ initiatives, was neither the control of crime (as colonial officials claimed) nor the management of India's itinerant groups (as most historians argue), but the uprooting of the indigenous policing system. British presence on the subcontinent was punctuated with periodic panics over ‘extraordinary crime’, through which colonial authorities advanced their policing practices and propagated their way of governance. The leading crusader against this ‘crisis’ was the Thuggee and Dacoity Department, which was as instrumental in the ‘discovery’ of the ‘Moghia menace’ and ‘criminal tribes’ in the late nineteenth century as in the earlier suppression of the ‘cult of Thuggee’. As a policing initiative, the Moghia campaign failed consistently for more than two decades. Its failures, however, reveal that behind the façade-anxieties over ‘criminal castes’ and ‘crises of crime’ stood attempts at a systemic change of indigenous governance. The diplomatic slippages of the campaign also expose the fact that the indigenous rule by patronage persisted—and that the consolidation of the colonial state was far from complete—well into the late nineteenth century.
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Hillman, Jimmye S. "Whatever Happened to the Farm Problem?" Gastronomica 11, nr 4 (2011): 86–90. http://dx.doi.org/10.1525/gfc.2012.11.4.86.
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The “farm problem” was a phrase that appeared on the scene in the 1930s after a continued inability of the market to absorb what farmers were producing. Actually, there had always been a farm problem, mostly one of overproduction, and lack of rural employment. Short-term crises were treated with short-term remedies. Banking “panics” came and went; tariff policy was a principal worry for farmers, and land policy (the public domain) had affected farmers since the time of Thomas Jefferson. It was not until the Great Depression that the federal government intervened directly in the market place to affect prices and incomes. The government also intervened in labor markets and foreign trade to benefit the farm sector. Government has never been able to extract itself. The farm problem is that too many resources being committed to agriculture, and farmers and the rural sector are unable to adjust. Ultimately, the issue became political: how much (or how little) money should be spent on agriculture, and in what way should it be spent? So long as the agricultural budget dominated the federal budget there was “war.” Today, agriculture has a smaller share of the budget but the farm problem remains. Henry Wallace, US Secretary of Agriculture under FDR, would be astounded!
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Kakauhe, Phanny Tandy. "Self control leader model as an answer to overcome the questions of leadership in the era of the revolution 0.5?" JPPI (Jurnal Penelitian Pendidikan Indonesia) 8, nr 3 (30.09.2022): 579. http://dx.doi.org/10.29210/020221593.
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The quality of human life is getting worse, not better, so humans continue to see how sin grows and develops. The leaders of nations around the world are trying to find solutions to solve all the world's problems. It is suspected that this world chaos can be resolved by the emergence of an influential leader in a group that is active in society. Leaders must have the ability to make plans, carry out plans, and decide what is necessary. This study uses content analysis, in which the analysis records symbols or messages systematically and then interprets them. As a result, self-control or self-control is an attitude, action, or behavior of a person that is consciously planned or unplanned. One of the very basic characteristics that are significant is the character of self-control, social mastery, and religion. Self-control is influenced by several factors, namely internal factors and external factors. Self-control of a leader greatly affects leadership competence. self-control model by giving the term coercive style leadership model to act when very urgent and important situations occur, crises and panics occur, everything is out of control. The self-control leadership model that works in detail and holistically can make useful decisions and actions.
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Gertler, Mark, Nobuhiro Kiyotaki i Andrea Prestipino. "A Macroeconomic Model with Financial Panics". Review of Economic Studies 87, nr 1 (29.05.2019): 240–88. http://dx.doi.org/10.1093/restud/rdz032.
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Abstract This article incorporates banks and banking panics within a conventional macroeconomic framework to analyse the dynamics of a financial crisis of the kind recently experienced. We are particularly interested in characterizing the sudden and discrete nature of banking panics as well as the circumstances that make an economy vulnerable to such panics in some instances but not in others. Having a conventional macroeconomic model allows us to study the channels by which the crisis affects real activity both qualitatively and quantitatively. In addition to modelling the financial collapse, we also introduce a belief driven credit boom that increases the susceptibility of the economy to a disruptive banking panic.
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Flint, John, i Ryan Powell. "The English City Riots of 2011, ‘Broken Britain’ and the Retreat into the Present". Sociological Research Online 17, nr 3 (sierpień 2012): 153–62. http://dx.doi.org/10.5153/sro.2748.
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The responses to the English city riots of 2011 bear a remarkable resemblance to those of historical urban disorders in terms of the way in which they are framed by concerns over “moral decline”, “social malaise” and a “lack of self-restraint” among certain sections of the population. In this paper we draw on the work of Norbert Elias and take a long-term perspective in exploring historical precedents and parallels relating to urban disorder and anti-social behaviour. We reject the notion of “Broken Britain” and argue that a more “detached” perspective is necessary in order to appreciate that perceived crises of civilisation are ubiquitous to the urban condition. Through this historical analysis, framed by Elias’ theory of involvement and detachment, we present three key arguments. Firstly, that a ‘retreat into the present’ is evident among both policy discourse and social science in responding to contemporary urban disorder, giving rise to ahistorical accounts and the romanticisation of previous eras; secondly, that particular moral panics have always arisen, specifically focused upon young and working class populations and urban disorder; and, thirdly, that previous techniques of governance to control these populations were often far more similar to contemporary mechanisms than many commentaries suggest. We conclude by advocating a long-term, detached perspective in discerning historical precedents and their direct linkages to the present; and in identifying what is particular about today's concerns and responses relating to urban disorder.
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Gorton, Gary, i Andrew Metrick. "The Federal Reserve and Panic Prevention: The Roles of Financial Regulation and Lender of Last Resort". Journal of Economic Perspectives 27, nr 4 (1.11.2013): 45–64. http://dx.doi.org/10.1257/jep.27.4.45.
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This paper surveys the role of the Federal Reserve within the financial regulatory system, with particular attention to the interaction of the Fed's role as both a supervisor and a lender-of-last-resort. The institutional design of the Federal Reserve System was aimed at preventing banking panics, primarily due to the permanent presence of the discount window. This new system was successful at preventing a panic in the early 1920s, after which the Fed began to discourage the use of the discount window and intentionally create “stigma” for window borrowing—policies that contributed to the panics of the Great Depression. The legislation of the New Deal era centralized Fed power in the Board of Governors, and over the next 75 years the Fed expanded its role as a supervisor of the largest banks. Nevertheless, prior to the recent crisis the Fed had large gaps in its authority as a supervisor and as lender of last resort, with the latter role weakened further by stigma. The Fed was unable to prevent the recent crisis, during which its lender of last resort function expanded significantly. As the Fed begins its second century, there are still great challenges to fulfilling its original intention of panic prevention.
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Bacchetta, Philippe, i Eric van Wincoop. "The Great Recession: A Self-Fulfilling Global Panic". American Economic Journal: Macroeconomics 8, nr 4 (1.10.2016): 177–98. http://dx.doi.org/10.1257/mac.20140092.
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While the 2008–2009 financial crisis originated in the United States, output, consumption, and investment declined by similar magnitudes around the globe. Given the partial integration of both goods and financial markets, what can account for the remarkable global business cycle synchronicity during this period? To address this question, we develop a two-country model allowing for self-fulfilling business cycle panics. We show that a business cycle panic will necessarily be synchronized across countries as long as there is a minimum level of economic integration. Several factors, including tight credit, made the global economy particularly vulnerable to a global panic in 2008. (JEL E12, E32, E44, E58, F44, G01)
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Michie, Ranald. "Charles P. Kindleberger and Robert Z. Aliber, Manias, panics and crashes: a history of financial crises (New York: Palgrave Macmillan, 6th edn., 2011. Pp. viii + 356. 3 tabs. ISBN 9780230365353 Pbk. £20/$21.95)". Economic History Review 65, nr 4 (8.10.2012): 1609–11. http://dx.doi.org/10.1111/j.1468-0289.2012.00670_30.x.
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Rockoff, Hugh. "O.M.W. Sprague (the Man Who “Wrote the Book” on Financial Crises) meets the Great Depression". Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook 63, nr 2 (14.10.2022): 527–57. http://dx.doi.org/10.1515/jbwg-2022-0018.
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Abstract When the Great Depression struck the United States, O.M.W. Sprague was America’s foremost expert on financial crises. His History of Crises under the National Banking System is a frequently cited classic. Had he diagnosed a banking panic and called for an aggressive response by the Federal Reserve, it might have made a difference; but he did neither. Sprague’s misdiagnosis had, I argue, two causes. First, the crisis lacked the symptoms of a panic, such as high interest rates in the New York money market, which Sprague had identified from his studies of previous crises. Second, Sprague’s macro-economic ideas led him to conclude that increasing the stock of money would be of little help once a depression was underway. Sprague’s main concern was that abandoning the gold standard would intensify the crisis, a concern that led him to resign his position as advisor to the U.S. Treasury to protest Roosevelt’s gold policy.
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Hier, Sean P. "Suppressing the Crisis: Moral Panics, Emerging Infectious Diseases, and the COVID-19 Conjuncture". Canadian Journal of Communication 48, nr 2 (1.06.2023): 205–22. http://dx.doi.org/10.3138/cjc.2022-0080.
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Background: The conjunctural moment of COVID-19 provides a window of opportunity to glean insights into the relationship between moral panics and emerging infectious disease narratives. Analysis: Using Penelope Ironstone’s 2020 essay on COVID-19 in keywords as a starting point, this article critically reflects on the ways that progressive social interests were unable to gain an upper hand in the process of narrating and defining the contradictions that were condensed in the crisis spurred by COVID-19. Conclusions and implications: The article extends Ironstone’s critique by explaining how COVID-19 keywords were expressed through a dominant pandemic narrative that discouraged as much as it incited moral panic by framing the preferred response to the crisis in terms of individualized coping strategies promising relative security from infection.
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Zhang, Lige, i Qinwen Zuo. "The Analysis of the Harm Caused by Companies Influencing the Spread of Public Crises for Profit in Monopolistic Competitive Markets". Journal of Humanities and Social Sciences Studies 5, nr 2 (18.02.2023): 53–56. http://dx.doi.org/10.32996/jhsss.2023.5.2.8.
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It is well known that public crises pose a threat to all citizens of an area, including threats to human safety, property damage, social panic, etc. Public crises are sometimes inevitable, but in a monopolistic competitive market, some companies make profits by influencing the spread of public crises. Such behavior sometimes increases the threat of public crises to citizens, expands the scope of public crises, and even creates new public crises. This paper attempts to analyze the relationship between companies and the spread of public crises under the monopolistic competitive market. First is to define the public crisis and the monopolistic competitive market, then discuss how companies affect the spread of the public crisis under the monopoly market competition, what its purpose is, and what kind of impact it will have on citizens. Finally, this paper will propose ways to reduce the harm that companies do to the spread of public crises.
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Ismail, Mohd Nazari. "WHY A FINANCIAL CRISIS WILL ALWAYS BE AROUND THE CORNER". TAFHIM : IKIM Journal of Islam and the Contemporary World 3, nr 1 (29.09.2015): 103–41. http://dx.doi.org/10.56389/tafhim.vol3no1.5.
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This article seeks to explain the nature and main cause of financial crises. It starts by defining what a financial crisis is and then explains the roam types that have occurred over the centuries namely, currency crisis, banking crisis, and market crashes. The history of the financial industry is then explained to show that financial crisis is a recent phenomenon in relation to mankind which has been in existence for over two million years. What is highlighted is the fact that prior to the existence of financial industry, humanity has never experienced any financial crisis. They only began to occur when financial industry became established in the sixteenth century. The article then relates in detail some of the most famous financial crises that have occurred since then. They include the Tulip Mania case, the South Sea Corporation panic and the Great Depression. This article concludes by arguing that financial crises at their core, are outcomes of over-lending and over-borrowing, which are, thus, integral to the financial industry itself, and that the problems of financial crises are not going to go away as long as the financial industry remains legally as part of our life.
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Dabrowski, Marek. "Can emerging markets be a source of global troubles again?" Russian Journal of Economics 5, nr 1 (17.04.2019): 67–87. http://dx.doi.org/10.32609/j.ruje.5.35506.
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After two turbulent decades (1980s and 1990s) when emerging-market economies were frequent victims of financial crises, in the first two decades of the 21st century their macroeconomic performance improved. Nevertheless, there were three crisis episodes that hit some of these countries: (i) the spill-over effects of the global financial crisis in 2008–2009; (ii) the consequences of the decline in commodity prices in 2014–2016 for their exporters; (iii) the turbulence in Argentina and Turkey in 2018. Currency crises in Argentina and Turkey in 2018 underlined again the key role of prudent domestic policies. Early policy correction can help to prevent a crisis and avoid its economic, social and political costs. If crisis cannot be avoided, the comprehensive anti-crisis package, including up-front monetary and fiscal adjustment, should be adopted as quickly as possible to arrest market panic and reverse negative expectations.
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Klemm, Celine, Enny Das i Tilo Hartmann. "Changed priorities ahead: Journalists’ shifting role perceptions when covering public health crises". Journalism 20, nr 9 (luty 2017): 1223–41. http://dx.doi.org/10.1177/1464884917692820.
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Journalistic role perceptions have been extensively studied in general contexts, but little is known as to how roles – or role prioritization – may shift across contexts, and professional characteristics. The aim of this study was gaining an understanding of journalists’ changing role perceptions in health crisis coverage, and moreover to examine potential differences between general and specialist reporters. We conducted 22 in-depth interviews with reporters with experience in health crisis reporting in Germany and Finland. Findings suggest that journalists’ roles shift when covering health crises (versus non-crises), towards a role as public mobilizers, towards classifying risks and from a watchdog to a more co-operative role. Furthermore, professional characteristics matter in journalists’ understanding and performance of their roles. Specialist reporters appear better equipped to deal with the challenges of health crisis coverage, such as balancing remaining critical with co-operation with authorities in their efforts to contain crises. Specialist reporters are also less likely to get swayed by the panic often accompanying health crises than general reporters are.
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Wang, Zhiying, Xiaodi Liu i Shitao Zhang. "A New Decision Method for Public Opinion Crisis with the Intervention of Risk Perception of the Public". Complexity 2019 (31.07.2019): 1–14. http://dx.doi.org/10.1155/2019/9527218.
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Decision-making for selecting response plans problem (SRPP) has been widely concerning to scholars. However, most of the existing studies on this problem are focused on public emergencies, and little attention has been paid to the decision-makers’ urgent need for solving the SRPP in response to public opinion crisis (POC) that may lead to panic buying of materials derived from public emergencies. POC has obvious characteristics of group behaviors that directly resulted from panics and psychological appeals of the public. Therefore, for solving the SRPP in POC, it is necessary to consider the deep-seated cause that result in panics and psychological appeals of the public, i.e., risk perception of the public (RPP). Firstly, the multicase study is employed to describe the SRPP of POC, and thus eight typical cases are chosen to analyze POC and its relevant response measures. Then, the RPP is described with prospect theory through considering the behavioral characteristics and critical sense of the public, the response measures of decision-makers, and the importance and ambiguity of POC. Further, considering the behavioral characteristics of decision-makers and the impact of alternative response plans on the evolution of POC scenarios, a new decision method for solving the SRPP with the intervention of the RPP is proposed by using cumulative prospect theory and a manner of comparing alternatives for each other. Finally, an example is given to illustrate the potential application and effectiveness of the proposed method.
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Dulam, Rithika, Kazuo Furuta i Taro Kanno. "Consumer Panic Buying: Realizing Its Consequences and Repercussions on the Supply Chain". Sustainability 13, nr 8 (14.04.2021): 4370. http://dx.doi.org/10.3390/su13084370.
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Globalization has brought not only advantages but also risks into the supply chains. One lesser studied risk is the effect of consumer behavior in crises. The recent COVID-19 pandemic has shown that the most efficient and optimized supply chains are susceptible to consumer panic buying. There is a severe need to understand the multitude of scenarios that could manifest after a catastrophe due to the change in consumer behavior so that businesses can develop a mitigation plan. The authors have developed an agent-based model that can simulate the various outcomes of a crisis using a consumer panic buying model and a supply chain model. The model quantitatively evaluates the panic purchase intention of a consumer while assessing the impact of panic buying on the supply chain. This paper introduces the implementation of the model, focusing on output analysis of the various situational settings in disaster aftermath. Preliminary study has revealed that implementing quota policy or rationing uniformly is very effective while controlling media reports or panic buying consumers can reduce consumer demand significantly.
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Bañgate, Julius M., Julie Dugdale, Elise Beck i Carole Adam. "Review of Agent Based Modelling of Social Attachment in Crisis Situations". International Journal of Information Systems for Crisis Response and Management 11, nr 1 (styczeń 2019): 35–64. http://dx.doi.org/10.4018/ijiscram.2019010103.
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Human behaviour during crisis evacuations is social in nature. In particular, social attachment theory posits that proximity of familiar people, places, objects, etc., promotes calm and a feeling of safety, while their absence triggers panic or flight. In closely bonded groups such as families, members seek each other and evacuate as one. This makes attachment bonds necessary in the development of realistic models of mobility during crises. This article presents a review of evacuation behaviour, theories on social attachment, crisis mobility, and agent-based models. It was found that social attachment influences mobility in the different stages of evacuation (pre, during and post). Based on these findings, a multi-agent model of mobility during seismic crises (SOLACE) is being developed, and it is implemented using the belief, desire and intention (BDI) agent architecture.
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Willett, Thomas D., Ekniti Nitithanprapas, Isriya Nitithanprapas i Sunil Rongala. "The Asian Crises Reexamined". Asian Economic Papers 3, nr 3 (wrzesień 2004): 32–87. http://dx.doi.org/10.1162/1535351054825184.
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This paper analyzes hypotheses and evidence for the causes of the Asian crises. It presents new evidence that, along with high rates of credit expansion and low ratios of international reserves to short-term debt, the combination of substantially appreciated currencies and large current account deficits played an important role in the crises' severity. Furthermore, the paper concludes that pre-crisis over-optimism rather than panic caused financial markets to behave imperfectly and that perverse financial liberalization and limited flexibility of exchange rates generated moral hazard problems of more importance than those generated by prospects of international bailouts.
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Leung, Janni, Jack Yiu Chak Chung, Calvert Tisdale, Vivian Chiu, Carmen C. W. Lim i Gary Chan. "Anxiety and Panic Buying Behaviour during COVID-19 Pandemic—A Qualitative Analysis of Toilet Paper Hoarding Contents on Twitter". International Journal of Environmental Research and Public Health 18, nr 3 (27.01.2021): 1127. http://dx.doi.org/10.3390/ijerph18031127.
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Background: The coronavirus disease 2019 (COVID-19) pandemic had increased population-level anxiety and had elicited panic buying behaviour across the world. The over-hoarding of toilet paper has received a lot of negative public attention. In this work, we used Twitter data to qualitatively analyse tweets related to panic buying of toilet paper during the crisis. Methods: A total of 255,171 tweets were collected. Of these 4081 met our inclusion criteria and 100 tweets were randomly selected to develop a coding scheme in the initial phase. Random samples of tweets in folds of 100 were then qualitatively analysed in the focused coding phase until saturation was met at 500 tweets analysed. Results: Five key themes emerged: (1) humour or sarcasm, (2) marketing or profiteering, (3) opinion and emotions, (4) personal experience, and (5) support or information. About half of the tweets carried negative sentiments, expressing anger or frustration towards the deficiency of toilet paper and the frantic situation of toilet paper hoarding, which were among the most influential tweets. Discussion: Panic buying of toilet paper was seen during the 2020 pandemic period with a mass amount of related content spread across social media. The spontaneous contagion of fear and panic through social media could fuel psychological reactions in midst of crises. The high level of negative social media posts regarding the toilet paper crisis acts as an emotional trigger of public anxiety and panic. Conclusions: Social media data can provide rapid infodemiology of public mental health. In a pandemic or crisis situation, real-time data could be monitored and content-analysed for authorities to promptly address public concerns.
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Chen, Yiwen. "Further Analysis in Global Financial Crisis: The Panic of 1907 and 2008 Subprime Mortgage Crisis". Advances in Economics, Management and Political Sciences 11, nr 1 (13.09.2023): 158–63. http://dx.doi.org/10.54254/2754-1169/11/20230534.
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Learning about the financial crisis and understanding its origin and internal causes could be helpful in better preparing and responding to the global financial crisis in the future. This paper briefly introduces the background of the Panic of 1907 and the 2008 financial crisis. The relationship between the crisis in 1907 and 2008 is mentioned and then the article mainly discusses the 2008 financial crisis and the causes of its occurrence. The 2008 financial crisis is also called the Subprime Mortgage Crisis which began in 2007 and is closely related to the concept of securitization. The financial crisis of 2008 brought a huge impact on the world economy. The conclusion would be drawn, and the main revelation would be discovered in this paper. This article wants to show that financial crises are closely related to each other. We can find similar cases from the previous crisis and bring them into the new crisis to find more perfect solutions. Experience of failure should be prevented in the future.
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Naufal Robbiqis Dwi Asta. "Filsafat Taoisme dan Quarter Life Crisis: Menggali Relevansi Pemikiran Filsafat Taoisme sebagai Upaya Mencegah Permasalahan Quarter Life Crisis". Journal of Islamic Thought and Philosophy 2, nr 1 (27.06.2023): 20–38. http://dx.doi.org/10.15642/jitp.2023.2.1.20-38.
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Quarter-life crisis is a crisis condition that often attacks teenagers who are entering adulthood. This crisis usually makes young people feel doubtful, helpless, afraid, ignorant, empty, and other emotional disturbances such as panic, depression, confusion, frustration, worry, not knowing the direction of their future such as a mate, career, social relations, and so on. so on. To prevent the impact of the quarter-life crisis from happening to teenagers, one way that needs to be done is to study. In this context, studying previous thoughts is also very helpful in preventing quarter-life crises from happening to young people. In addition to getting methods for solving these problems, we can also add insight into the thoughts of previous people. Therefore, this paper will present the relevance of Taoist philosophy to prevent quarter-life crises. In this paper, the author will describe the history and philosophical thought of Taoism. Then from the ideas of Taoism that have been described, its relevance will be drawn to prevent a quarter-life crisis which consists of thoughts about Yin Yang, water as an analogy that describes the flow of Taoism, and the concept of Wu Wei