Reflections on Northern Rock: The Bank Run That Heralded the Global Financial Crisis

By Hyun Song Shin. 2009

524 citations recorded by the source corpus.

Subfields: Finance

View Paper: https://www.semanticscholar.org/paper/7fa7b4289676c9a9037a8bb8d476f935ea977173

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Citations in the corpus

Public Information and Coordination: Evidence from a Credit Registry Expansion (2011, unknown): “For example, the inability of Bear Sterns and Northern Rock to secure short term nancing at the beginning of the 2007-2008 crisis is interpreted as anecdotal evidence of creditor runs (Brunnermeier (2009), Shin (2009)).”
Strategic Complementarity, Fragility, and Regulation (2014, unknown): “Morris and Shin (2009) also study how insolvency risk and illiquidity risk vary with the balance sheet composition of a financial institution in a model where future fundamental uncertainty interacts with the strategic uncertainty of the present.”
Inclusive banking, financial regulation and bank performance: Cross-country evidence (2021, background): “6 See for example Shin (2009) and Goldsmith-Pinkham and Yorulmazer (2010).”
Procyclicality and Monetary Aggregates (2011, unknown): “In particular, when the US dollar funding liquidity is high, the risk premium 6 As emphasized by Adrian, Etula and Shin (2009), this negative contemporaneous correlation between the exchange rate and the fraction of non-core liabilities plays a crucial role in the next subsection in forecasting the…”
Banking and Trading (2012, unknown): “Another trading-like way in which banks generated skewed risk was by warehousing transactional loans in order to securitize or syndicate them later, thus being exposed to the inability to do so once syndication and wholesale funding markets “froze” during the crisis (Shin, 2009; Ivashina and Scharfs”
Is financial inclusion good for bank stability? International evidence (2017, background): “For example: during financial distress when panic gets into depositors, they run on banks to withdraw their savings (Diamond and Dybvig, 1983; Shin, 2009).”
Securitisation and Financial Stability (2009, unknown): “notes were of long maturity, with the maturity being around two years; see Shin (2008b) .”
A Macroprudential Approach to Financial Regulation (2011, background): “Indeed, wholesale funding runs—a refusal of repo and commercial paper creditors to roll over their loans—played a key role in the demise of Northern Rock, Bear Stearns and Lehman Brothers, among other highprofile failures (Shin, 2009; Gorton and Metrick, 2010; Duffie, 2010).”
The Evolution of a Financial Crisis: Collapse of the Asset-Backed Commercial Paper Market (2012, unknown): “Shin (2009) discusses retail and wholesale runs at Northern Rock in 2007; Oliveira, Schiozer, and Barros (2011) investigate determinants of runs at Brazilian banks in 2008; and Iyer and Peydró (2011) examine the effects of fraud at a major Indian bank on runs at banks that were connected through…”
The Economic Crisis is a Crisis for Economic Theory (2010, background): “To be absolutely clear, what Sonnenschein (1972), Mantel (1974) and Debreu (1974) showed is that there is no hope of a general result for stability nor indeed of uniqueness of equilibria, if we wish to build a model based only on individuals who satisfy the standard axioms of rationality.”
Macroprudential Policy - A Literature Review (2012, unknown): “the procyclicality of risk (BIS, 2001; Borio et al., 2001; Danielsson et al., 2001; Borio and Zhu, 2008; Brunnermeier et al, 2009, Brunnermeier and Pedersen, 2009; Shin, 2009).”