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    The U.S. and Irish Credit Crises: Their distinctive Differences and Common Features


    Connor, Gregory and Flavin, Thomas and O'Kelly, Brian (2010) The U.S. and Irish Credit Crises: Their distinctive Differences and Common Features. Working Paper. NUI Maynooth, Maynooth. (Unpublished)

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    Abstract

    Although the US credit crisis precipitated it, the Irish credit crisis is an identifiably separate one, which might have occurred in the absence of the U.S. crash. The distinctive differences between them are notable. Almost all the apparent causal factors of the U.S. crisis are missing in the Irish case; and the same applies vice-versa. At a deeper level, we identify four common features of the two credit crises: capital bonanzas, irrational exuberance, regulatory imprudence, and moral hazard. The particular manifestations of these four “deep” common features are quite different in the two cases.

    Item Type: Monograph (Working Paper)
    Additional Information: http://economics.nuim.ie/research/ http://repec.org/
    Keywords: Ireland; Unnited States of America; USA; Economic crisis; Irrational Exuberance; Capital flow bonanza; Regulatory Imprudence; Moral hazard; Working Paper N206-10.
    Academic Unit: Faculty of Social Sciences > Economics, Finance and Accounting
    Item ID: 1884
    Depositing User: Thomas Flavin
    Date Deposited: 15 Mar 2010 10:46
    Publisher: NUI Maynooth
    URI:

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