Case Study (Financial Crisis)


Kenichi UEDA

Credits / Language / Semester

2Credits / English / Winter


Become capable of reading theoretical and empirical analyses on financial crises at the level often discussed among international policy experts.


Financial crisis


Students will present chapters from “Financial Crisis: Causes, Consequences, and Policy Responses” and possibly a few other papers.

One student will be assigned to formally present each chapter (or a paper) and another will be assigned to formally discuss it. Afterwards, there will be floor discussions for the chapter/paper, which all students are expected to lively participate in.

Chapters will be assigned in the first class. Two chapters will be covered in one class.

A few lectures will be also given over the course.

Teaching Methods

Lecture; student's formal presentation and formal discussion; open floor discussions.


Presentation, class participation, and exam.

Required Textbooks

Claessens, Stijn, M. Ayhan Kose, Luc Laeven, and Fabian Valencia ed., 2014, Financial Crisis: Causes, Consequences, and Policy Response, International Monetary Fund (Washington, D.C.)

Reference Books

International Monetary Fund, 2014, “How Big is the Implicit Subsidy for Banks Considered Too Important To Fail?” Global Financial Stability Report, Ch. 3, April issue, (Washington, D.C.).

Ranciere, Romain, and Aaron Tornell, and Frank Westermann,2006, “Decomposing the Effects of Financial Liberalization: Crises vs. Growth,” Journal of Banking and Finance, Vol, 30, pp. 3331?48.

Townsend, Robert M., and Kenichi Ueda, 2010, “Welfare Gains from Financial Liberalization,” International Economic Review, Vol. 51, pp. 553-597.

Ueda, Kenichi, and Beatrice Weder di Mauro, 2013, “Quantifying Structural Subsidy Values for Systemically Important Financial Institutions,” Journal of Banking and Finance, 2013, vol. 37, pp. 3830-3842.

Notes on Taking the Course

Good understanding of micro and macroeconomics as well as statistical methods/econometrics are necessary. Prerequisites are Microeconomics, Macroeconomics, and Statistical Methods (or their equivalents).

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