PPT-From hubris to nemesis: Irish banks, behavioural biases, and the crisis

Michael Dowling Dublin city university Brian Lucey Trinity college Dublin A behavioural perspective on Irish bank directors and risk management Background on the paper This paper was written as part of a behavioural finance special issue . by . Ferraz. , Leal, Marques, and . Miterhof. IEA- WB Roundtable-New Thinking on . Industrial Policy. May 22, 2012. Growth in Real Lending: Latin American Banks. Growth in Real Lending: Eastern European Banks. Understanding . Internal Conflict . in Stories. . Pride; . . . Virtue. . or . Vice. ?. Let’s first define virtue and vice;. A . virtue.  is a positive trait or quality deemed to be morally . . 4 Lectures. . 1. The financial crisis of 2007-09. 2. How banking regulation is changing. 3. The euro area crisis and the Italian economy. 4. The new European governance, the ECB monetary policy and theBanking Union. René M. Stulz. Everett D. Reese Chair of Banking and Monetary Economics. . Ohio State University, NBER, and ECGI. . How does return performance differ?. Sample of 164 large publicly traded banks in 31 countries.. Chap 12 & 13. International Financial Crises. Banking Crisis – Sudden collapse of the domestic banking system.. Currency Crises – Loss of credibility of fixed exchange rate system.. Systemic Financial Crisis/Sudden Stops – Breakdown of system of international capital flows. . Stiglitz. Oaxaca. Oct 27, 2011 . Participation, Growth, and Equity: . the . Global Economy in a Time of Crisis and . Change. Protests are no surprise. Real . surprise . is they didn’t come sooner. OWS numbers may be small, but many share their views . Dean Baker, Co-Director. Center for Economic and Policy Research. April 13. , 2012. Key Points on the Economic Crisis . The main cause was the collapse of the $8 trillion housing bubble. The financial crisis was secondary. And there are a few ……. They are …. Dilemma. Hamartia. Peripeteia. . and . anagnorisis. Hubris. Nemesis. Catharsis. Who is the protagonist?. Dilemma. Noun. A . predicament. in which a difficult choice has to be made . Antoin E. Murphy . 2. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again (John Maynard Keynes . Goran Skosples. 12. The . Great Recession. The 2008-09 Financial Crisis & Recession. Causes of the Crisis. Macroeconomic consequences. Policy responses. CASE STUDY. The 2008-09 Financial Crisis & Recession. Russia – Cyprus: Money Laundry/EU . Entrèe. Russian Underworld Cyprus Crisis. Global Underworld Iceland Crisis. Global Financial Crises. Virtual Economy – Bear Trap. Manufacturing destroys value: Value of Inputs > Outputs. Dean Baker, Co-Director. Center for Economic and Policy Research. April 13. , 2012. Key Points on the Economic Crisis . The main cause was the collapse of the $8 trillion housing bubble. The financial crisis was secondary. Oct 27, 2011 . Participation, Growth, and Equity: . the . Global Economy in a Time of Crisis and . Change. Protests are no surprise. Real . surprise . is they didn’t come sooner. OWS numbers may be small, but many share their views . . Khurshid Ahmad,. Chair of Computer Science. Trinity College, Dublin, IRELAND. kahmad@cs.tcd.ie. Coursework. In this coursework you will . explore the causes of the 2008 financial . crisis, with special reference to four EU countries –...