{"id":4787,"date":"2012-11-22T00:22:41","date_gmt":"2012-11-21T22:22:41","guid":{"rendered":"http:\/\/www.poleconomix.gr\/portal\/?p=4787"},"modified":"2012-11-22T19:11:23","modified_gmt":"2012-11-22T17:11:23","slug":"macroeconomic-adjustment-and-the-history-of-crises-in-open-economies","status":"publish","type":"post","link":"https:\/\/www.poleconomix.gr\/portal\/macroeconomic-adjustment-and-the-history-of-crises-in-open-economies\/","title":{"rendered":"Macroeconomic adjustment and the history of crises in open economies"},"content":{"rendered":"<p>Aizenman, Joshua,\u00a0\u00a0Noy, Ilan.<\/p>\n<p>Are countries that have previously experienced banking crises less vulnerable to them in the future? This column argues that, in fact, previous crises might make future crises more likely. There isn\u2019t much evidence of a learning process from past mistakes because the regulator often lags behind banking\u2019s pace of innovation. Preparing to prevent the last crisis does not prevent the next and it seems that the \u2018too big to fail\u2019 doctrine provides cover for banks, delaying the day of adjustment.<\/p>\n<p><strong>\u03a0\u03b7\u03b3\u03ae: <\/strong>Voxeu<\/p>\n<p><a href=\"http:\/\/voxeu.org\/article\/macroeconomic-adjustment-and-history-crises-open-economies\" target=\"_blank\">\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aizenman, Joshua,\u00a0\u00a0Noy, Ilan. Are countries that have previously experienced banking crises less vulnerable to them in the future? This column argues that, in fact, previous crises might make future crises more likely. There isn\u2019t much evidence of a learning process from past mistakes because the regulator often lags behind banking\u2019s pace of innovation. Preparing to [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,39,4],"tags":[28,25],"class_list":["post-4787","post","type-post","status-publish","format-standard","hentry","category-18","category-39","category-proposals","tag-28","tag-25"],"_links":{"self":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/4787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/comments?post=4787"}],"version-history":[{"count":2,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/4787\/revisions"}],"predecessor-version":[{"id":4792,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/4787\/revisions\/4792"}],"wp:attachment":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/media?parent=4787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/categories?post=4787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/tags?post=4787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}