Causes and consequences of financial crises in 2007–2009
Saidova Subhinigor AzizovnaTashkent State University of EconomicsUtbasarov OybekTashkent State University of EconomicsFazlitdinova NozimaTashkent State University of EconomicsTodjiyeva MalikaTashkent State University of Economics
ABI
Abstract
This article provides an asymmetric information framework to understand the nature of financial crisis. It provides the following precise definition of a financial crisis: the best investment opportunities. As a result, a financial crisis could move the economy away from equilibrium with high output, where financial markets perform well to an equilibrium in which output falls sharply.
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