Recent discussions about bank runs in economics has led me to the conclusion that economists want to lump practically all behaviour around default as a “run,” which is not helpful. In order to have a better grasp of the situation, we need to distinguish various possibilities — runs, cascades, squeezes, and good old fashioned financial crises.…Some useful definitions.
Bond Economics
Runs, Cascades, Squeezes, and Crises
Brian Romanchuk
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