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Connor, Gregory, Flavin, Thomas and O'Kelly, Brian (2012) The U.S. and Irish credit crises: Their distinctive differences and common features. Journal of International Money and Finance, 31. pp. 60-79. ISSN 0261-5606
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Abstract
Although the 2007–2008 US credit crisis precipitated it, the
subsequent 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. Many of 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,
asset price bubbles, regulatory imprudence, and moral hazard. The
particular manifestations of these four “deep” common features
are quite different in the two cases.
| Item Type: | Article |
|---|---|
| Additional Information: | We wish to acknowledge support from the Science Foundation of Ireland under grant 08/SRC/FM1389. |
| Keywords: | Credit crises; Asset price bubbles; Capital bonanzas; Regulatory imprudence; Moral hazard; |
| Academic Unit: | Faculty of Social Sciences > Economics, Finance and Accounting |
| Item ID: | 5418 |
| Identification Number: | 10.1016/j.jimonfin.2011.11.005 |
| Depositing User: | Gregory Connor |
| Date Deposited: | 24 Sep 2014 14:59 |
| Journal or Publication Title: | Journal of International Money and Finance |
| Publisher: | Elsevier |
| Refereed: | Yes |
| Funders: | Science Foundation of Ireland under grant 08/SRC/FM1389 |
| Related URLs: | |
| URI: | https://mural.maynoothuniversity.ie/id/eprint/5418 |
| Use Licence: | This item is available under a Creative Commons Attribution Non Commercial Share Alike Licence (CC BY-NC-SA). Details of this licence are available here |
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