Douglas Gale
Biographic Data
| ID | 5729940 |
|---|---|
| NAME | Douglas Gale |
| GIVEN NAMES | Douglas |
| FAMILY NAME | Gale |
| SIGNATURE | GALE D |
| AFFILIATIONS | New York University |
| ORCID | 0000-0003-1099-7732 |
| VERIFIED | Yes |
| TOTAL WORKS | 11 |
| TOTAL CITATIONS | 106 |
| AUTHOR COUNT | 11 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1978 |
| LATEST PUBLICATION YEAR | 2003 |
| H-INDEX | 4 |
Bayesian learning in social networks
Financial Contagion
Financial contagion is modeled as an equilibrium phenomenon. Because liquidity preference shocks are imperfectly correlated across regions, banks hold interregional claims on other banks to provide insurance against liquidity preference shocks. When there is no aggregate uncertainty, the first‐best allocation of risk sharing can be achieved. However, this arrangement is financially fragile. A small liquidity preference shock in one region can spr…
Bubbles and Crises
In recent financial crises a bubble, in which asset prices rise, is followed by a collapse and widespread default. Bubbles are caused by agency relationships in the banking sector. Investors use money borrowed from banks to invest in risky assets, which are relatively attractive because investors can avoid losses in low payoff states by defaulting on the loan. This risk shifting leads investors to bid up the asset prices. Risk can originate in bo…
Financial Markets, Intermediaries, and Intertemporal Smoothing
In an overlapping generations economy with (incomplete) financial markets but no intermediaries, there is underinvestment in safe assets. In an economy with intermediaries and no financial markets, accumulating reserves of save assets allows returns to be smoothed, nondiversifiable risk to be eliminated, and an ex ante Pareto improvement compared to the allocation in the market equilibrium to be achieved. In a mixed financial system, however, com…
Financial Innovation and Risk Sharing
Journal Article Financial Innovation and Risk Sharing. Get access Financial Innovation and Risk Sharing. By Allen (Franklin) and Gale (Douglas). (Cambridge, Mass. and London: MIT Press, 1994. Pp. x + 379. £31.50 hardback, US $47.25 hardback. ISBN 0 262 01141 7.) Hyun Song Shin Hyun Song Shin University of Southampton Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 105, Issue 433, 1 November 19…
Money and Value: A Reconsideration of Classical and Neoclassical Monetary Economics . Jean-Michel Grandmont
Intertemporal Planning, Exchange, and Macroeconomics
Journal Article Intertemporal Planning, Exchange, and Macroeconomics. Get access Intertemporal Planning, Exchange, and Macroeconomics. By D. F. I. FOLKERTSLANDAU. (Cambridge: Cambridge University Press, 1982. Pp. xi + 171. £18.50.) Douglas Gale Douglas Gale London School of Economics Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 94, Issue 373, 1 March 1984, Pages 172–174, https://doi.org/10.…
Competitive Models with Keynesian Features
Journal Article Competitive Models with Keynesian Features Get access Douglas Gale Douglas Gale London School of Economics Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 93, Issue Supplement, 1 December 1983, Pages 17–33, https://doi.org/10.2307/2232637 Published: 01 December 1983
Economic Theory and the Core
The Microeconomic Foundations of Macroeconomics
Journal Article Harcourt (G. C ) , (Ed.). The Microeconomic Foundations of Macroeconomics Get access The Microeconomic Foundations of Macroeconomics. Edited by G. C. Harcourt. (London: Macmillan Press, 1977. Pp. ix + 401. £20.00.) Douglas Gale Douglas Gale Churchill College, Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 88, Issue 350, 1 June 1978, Pages 363–365, https://doi.org/10.…
Equilibrium and Disequilibrium in Economic Theory
Journal Article Equilibrium and Disequilibrium in Economic Theory Get access Equilibrium and Disequilibrium in Economic Theory. Edited by Gerhard Schwodiauer. (Dordrecht: D. Reidel Publishing Company, 1977. Pp. 1 + 736. $66.00.) Douglas Gale Douglas Gale University of Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 88, Issue 352, 1 December 1978, Pages 845–849, https://doi.org/10.230…
Financial Contagion
Financial contagion is modeled as an equilibrium phenomenon. Because liquidity preference shocks are imperfectly correlated across regions, banks hold interregional claims on other banks to provide insurance against liquidity preference shocks. When there is no aggregate uncertainty, the first‐best allocation of risk sharing can be achieved. However, this arrangement is financially fragile. A small liquidity preference shock in one region can spr…
Bubbles and Crises
In recent financial crises a bubble, in which asset prices rise, is followed by a collapse and widespread default. Bubbles are caused by agency relationships in the banking sector. Investors use money borrowed from banks to invest in risky assets, which are relatively attractive because investors can avoid losses in low payoff states by defaulting on the loan. This risk shifting leads investors to bid up the asset prices. Risk can originate in bo…
Financial Innovation and Risk Sharing
Journal Article Financial Innovation and Risk Sharing. Get access Financial Innovation and Risk Sharing. By Allen (Franklin) and Gale (Douglas). (Cambridge, Mass. and London: MIT Press, 1994. Pp. x + 379. £31.50 hardback, US $47.25 hardback. ISBN 0 262 01141 7.) Hyun Song Shin Hyun Song Shin University of Southampton Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 105, Issue 433, 1 November 19…
Financial Markets, Intermediaries, and Intertemporal Smoothing
In an overlapping generations economy with (incomplete) financial markets but no intermediaries, there is underinvestment in safe assets. In an economy with intermediaries and no financial markets, accumulating reserves of save assets allows returns to be smoothed, nondiversifiable risk to be eliminated, and an ex ante Pareto improvement compared to the allocation in the market equilibrium to be achieved. In a mixed financial system, however, com…
The Microeconomic Foundations of Macroeconomics
Journal Article Harcourt (G. C ) , (Ed.). The Microeconomic Foundations of Macroeconomics Get access The Microeconomic Foundations of Macroeconomics. Edited by G. C. Harcourt. (London: Macmillan Press, 1977. Pp. ix + 401. £20.00.) Douglas Gale Douglas Gale Churchill College, Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 88, Issue 350, 1 June 1978, Pages 363–365, https://doi.org/10.…
The Microeconomic Foundations of Macroeconomics
Journal Article Harcourt (G. C ) , (Ed.). The Microeconomic Foundations of Macroeconomics Get access The Microeconomic Foundations of Macroeconomics. Edited by G. C. Harcourt. (London: Macmillan Press, 1977. Pp. ix + 401. £20.00.) Douglas Gale Douglas Gale Churchill College, Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 88, Issue 350, 1 June 1978, Pages 363–365, https://doi.org/10.…
Equilibrium and Disequilibrium in Economic Theory
Journal Article Equilibrium and Disequilibrium in Economic Theory Get access Equilibrium and Disequilibrium in Economic Theory. Edited by Gerhard Schwodiauer. (Dordrecht: D. Reidel Publishing Company, 1977. Pp. 1 + 736. $66.00.) Douglas Gale Douglas Gale University of Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 88, Issue 352, 1 December 1978, Pages 845–849, https://doi.org/10.230…
Economic Theory and the Core
Competitive Models with Keynesian Features
Journal Article Competitive Models with Keynesian Features Get access Douglas Gale Douglas Gale London School of Economics Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 93, Issue Supplement, 1 December 1983, Pages 17–33, https://doi.org/10.2307/2232637 Published: 01 December 1983
Intertemporal Planning, Exchange, and Macroeconomics
Journal Article Intertemporal Planning, Exchange, and Macroeconomics. Get access Intertemporal Planning, Exchange, and Macroeconomics. By D. F. I. FOLKERTSLANDAU. (Cambridge: Cambridge University Press, 1982. Pp. xi + 171. £18.50.) Douglas Gale Douglas Gale London School of Economics Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 94, Issue 373, 1 March 1984, Pages 172–174, https://doi.org/10.…
Money and Value: A Reconsideration of Classical and Neoclassical Monetary Economics . Jean-Michel Grandmont
Financial Innovation and Risk Sharing
Journal Article Financial Innovation and Risk Sharing. Get access Financial Innovation and Risk Sharing. By Allen (Franklin) and Gale (Douglas). (Cambridge, Mass. and London: MIT Press, 1994. Pp. x + 379. £31.50 hardback, US $47.25 hardback. ISBN 0 262 01141 7.) Hyun Song Shin Hyun Song Shin University of Southampton Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 105, Issue 433, 1 November 19…
Financial Markets, Intermediaries, and Intertemporal Smoothing
In an overlapping generations economy with (incomplete) financial markets but no intermediaries, there is underinvestment in safe assets. In an economy with intermediaries and no financial markets, accumulating reserves of save assets allows returns to be smoothed, nondiversifiable risk to be eliminated, and an ex ante Pareto improvement compared to the allocation in the market equilibrium to be achieved. In a mixed financial system, however, com…
Financial Contagion
Financial contagion is modeled as an equilibrium phenomenon. Because liquidity preference shocks are imperfectly correlated across regions, banks hold interregional claims on other banks to provide insurance against liquidity preference shocks. When there is no aggregate uncertainty, the first‐best allocation of risk sharing can be achieved. However, this arrangement is financially fragile. A small liquidity preference shock in one region can spr…
Bubbles and Crises
In recent financial crises a bubble, in which asset prices rise, is followed by a collapse and widespread default. Bubbles are caused by agency relationships in the banking sector. Investors use money borrowed from banks to invest in risky assets, which are relatively attractive because investors can avoid losses in low payoff states by defaulting on the loan. This risk shifting leads investors to bid up the asset prices. Risk can originate in bo…
Bayesian learning in social networks
Economics (11 works) · Economic theories and models (8 works) · Banking stability, regulation, efficiency (4 works) · Macroeconomics (4 works) · Business (3 works) · Economic history (3 works) · Economic Theory and Institutions (3 works) · Finance (3 works) · Finance (3 works) · Monetary economics (3 works)