Essays on financial instability and crises

Thesis

The thesis presents three papers in macroeconomics and monetary economics with an emphasis on financial instability and crises.

The first paper, entitled "Interbank Market Crises and Financial Openness," studies the effect of financial openness on financial stability by extending a closed-economy DSGE model (Boissay, Collard and Smets, 2015) to an open economy in which banks are allowed to invest abroad. Financial internationalisation in the form of outward banking flows alte...

Expand abstract

Authors: Elard, I

• DOI: 10.5287/ora-er7e4dmj8
• Type of award: DPhil
• Level of award: Doctoral
• Awarding institution: University of Oxford
• Language: English
• Keywords: crises; quantitative easing; 2007/8 crisis; DSGE; financial instability; interbank market; sovereign debt negotiations; mutual funds; unconventional monetary policy; portfolio rebalancing; bargaining
• Subjects: Essays on Financial Instability and Crises