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Complexity and Financial Panics

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NBER2009-05-01 更新2025-01-04 收录
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https://www.nber.org/papers/w14997
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During extreme financial crises, all of a sudden, the financial world that was once rife with profit opportunities for financial institutions (banks, for short) becomes exceedingly complex. Confusion and uncertainty follow, ravaging financial markets and triggering massive flight-to-quality episodes
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2009-05-01
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