A Study of Financial Crisis:The Case of 2008 Financial Tsunami
Date Issued
2014
Date
2014
Author(s)
Bu, Lin-Kai
Abstract
The Financial Tsunami of 2008 has dramatically impacted the global economy for the following years. The non-performing loans (NPL) of some investment banks of the United States could induce serious chain reaction and caused the large-scale, systematic disaster. The first topic is to study the mechanism of financial crises. Since 2008, there are more and more materials and researches were published, which are helpful to the study of Financial Tsunami itself. Meanwhile, other financial crises before 2008, which have various scales and different stories, were adopted for comparison. Economists have proposed some theories, like Animal Spirits by Robert J. Shiller, help to build a clear picture about the mechanism. The second topic is how to recover from deep depression after financial crisis. Various strategies have been applied, like quantitative easing adopted by the United States and austerity was popular in the Europe. The time now is suitable to review the consequence of different strategies. Finally in the research, two new ideas were proposed to analyze the financial crisis. First, I applied a bi-stable model, it reveals the same characteristics of economics quickly changing from confidence to panic. Second, the swarm modeling was suggested to simulate the economic activities. Swarm modeling is suitable for computer simulation, which is helpful to predict and analyze the changing of global economics.
Subjects
金融海嘯
金融危機
動物本能
雙穩態模型
Type
thesis
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