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Global Economic Boom Bust Cycles
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Download or read book Boom and Bust written by William Quinn and published by Cambridge University Press. This book was released on 2020-08-06 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do stock and housing markets sometimes experience amazing booms followed by massive busts and why is this happening more and more frequently? In order to answer these questions, William Quinn and John D. Turner take us on a riveting ride through the history of financial bubbles, visiting, among other places, Paris and London in 1720, Latin America in the 1820s, Melbourne in the 1880s, New York in the 1920s, Tokyo in the 1980s, Silicon Valley in the 1990s and Shanghai in the 2000s. As they do so, they help us understand why bubbles happen, and why some have catastrophic economic, social and political consequences whilst others have actually benefited society. They reveal that bubbles start when investors and speculators react to new technology or political initiatives, showing that our ability to predict future bubbles will ultimately come down to being able to predict these sparks.
Book Synopsis Boom-bust Cycles and Financial Liberalization by : Aaron Tornell
Download or read book Boom-bust Cycles and Financial Liberalization written by Aaron Tornell and published by MIT Press. This book was released on 2005 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analysis and evidence of how the factors that give rise to boom-bust cycles in fast-growing developing economies also enhance long-run growth. The volatility that has hit many middle-income countries (MICs) after liberalizing their financial markets has prompted critics to call for new policies to stabilize these boom-bust cycles. But, as Aaron Tornell and Frank Westermann point out in this book, over the last two decades most of the developing countries that have experienced lending booms and busts have also exhibited the fastest growth among MICs. Countries with more stable credit growth, by contrast, have exhibited, on average, lower growth rates. Factors that contribute to financial fragility thus appear, paradoxically, to be a source of long-run growth as well. Tornell and Westermann analyze boom-bust cycles in the developing world and discuss how these cycles are generated by credit market imperfections. They explain why the financial liberalization that allows countries to overcome imperfections impeding rapid growth also generates the financial fragility that leads to greater volatility and occasional crises. The conceptual framework they present illustrates this linkage and allows Tornell and Westermann to address normative questions regarding liberalization policies.The authors also characterize key macroeconomic regularities observed across MICs, showing that credit markets play a key role not only in boom-bust episodes but in the strong "credit channel" observed during tranquil times. A theoretical framework is then presented that explains how credit market imperfections can account for these empirical patterns. Finally, Tornell and Westermann provide microeconomic evidence on the credit market imperfections that drive the results of the theoretical framework, finding that asymmetries between tradables and nontradables are key to understanding the patterns in MIC data.
Book Synopsis Global Economic Boom & Bust Cycles by : Khafra Om-Ra-Seti
Download or read book Global Economic Boom & Bust Cycles written by Khafra Om-Ra-Seti and published by Createspace Independent Publishing Platform. This book was released on 2012-11-30 with total page 626 pages. Available in PDF, EPUB and Kindle. Book excerpt: Was the Meltdown of 2008 the first phase of the Great Depression of the 21st Century? In 2013, this global economic crisis is not over and no one knows the hour or the day when the Final Reckoning will occur! The 2008 Meltdown that culminated in the serial collapse of some of the most powerful corporations in the world, represented only the tip of the iceberg in the emergence of this epic economic bust cycle. What we are now witnessing is the greatest bubble and credit expansion in modern economic history, and when this entire system finally implodes, it will bring into existence some harsh economic and financial realities. The Meltdown of 2008 (and its aftershocks) was the initial bursting of this bubble and the first phase of the Great Depression of the 21st century. As this bust cycle continues to unfold in the wake of the 2008 collapse, the sovereign debt crisis that has a strangle hold on most of the developed world, has evolved into the epicenter of a massive credit and money supply expansion bubble that threatens to derail the entire global economic system. The sovereign debt crisis in Europe is a constant reminder of why this bust cycle may linger on for many years without resolution and a robust recovery. The narrative journey taken in this book helps the reader to better understand the following key issues:* Greece and Spain are microcosms of a much larger looming global catastrophe, and the world can learn valuable lessons by observing the failed austerity policies that are not working in their ongoing depression years. This book also takes a very close look at Japan and its long deflationary bust cycle that spans the period of over two decades. After its extraordinary boom period. Japan has been in a titanic battle to break the grip of a deep deflationary era. There are valuable lessons to be learned in Japan's economic drama. * The analysis presented provides an introduction to Om-Ra-Seti's "Grand Convergence Theory," the confluence of a diversity of economic forces destined to bring about a manifestation of creative destruction and global economic revision. * In historical and narrative form, the reader is presented with a review analysis, power and continuing nature of boom and bust cycles. * The book supports the premise that our civilization has arrived at the end of the "Age of Oil," and that governments, corporations and institutions should be actively engaged in a transition process and period of withdrawal from this depleting and environmentally destructive resource. * This publication offers unique insights and perspectives on the inevitable recovery phase that will begin after the period of global economic purgatory. The year 2012 was the pivotal turning point in this unfolding dramaGovernments and their central bankers are conducting a titanic battle to prevent contagion and collapse into deflation and global depression. We have reached a major turning point in this bust cycle where an accurate assessment and appropriate reforms are critical; inappropriate policies and short-term remedies will only produce greater failure. And there must be a total recognition by global leaders and lawmakers that unrestrained and unbridled free enterprise systems will not work in this current economic bust cycle. The longer our leaders delay in implementing the full measure of economic and depression-era reforms, the more difficult it becomes to stop what is now inevitable: Global Economic Turmoil and Collapse! At some point in this bust cycle, additional stimulus programs, massive money printing, bailouts and corporate welfare will not reverse what we will witness in the second decade of the 21st century. This book brings to light the need for strategic plans for the future in a world that has entered a great technological transition phase.
Download or read book Boom and Bust written by Alex J. Pollock and published by Government Institutes. This book was released on 2010-11-16 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: While the recent economic crisis was a painful period for many Americans, the panic surrounding the downturn was fueled by an incomplete understanding of economic history. Economic hysteria made for riveting journalism and effective political theater, but the politicians and members of the media who declared that America was in the midst of the greatest financial calamity since the Great Depression were as wrong and misguided as the expansionists of the Roosevelt era. In reality the cyclical nature of market economies is as old as the markets themselves. In a free market system, financial downturns inevitably accompany economic prosperity-but the overall trend is upward progress in living standards and national wealth. While it is helpful to understand what caused the recent crisis, the more important questions to consider are 'What makes the 'boom and bust' cycle so predictable?' and 'What are the ethical responsibilities of the citizens of a free market economy?' In Boom and Bust: Financial Cycles and Human Prosperity, Alex J. Pollock argues that while economic downturns can be frightening and difficult, people living in free market economies enjoy greater health, better access to basic necessities, better education, work less arduous jobs, and have more choices and wider horizons than people at any other point in history. This wonderful reality would not exist in the absence of financial cycles. This book explains why.
Book Synopsis Curbing The Boom-Bust Cycle by : John Williamson
Download or read book Curbing The Boom-Bust Cycle written by John Williamson and published by Columbia University Press. This book was released on 2005-07-30 with total page 139 pages. Available in PDF, EPUB and Kindle. Book excerpt: International investors poured vast sums of money into East Asian and Latin American countries during the mid-1990s, when the emerging market boom was at its peak. Then Thailand stumbled and panic seized the markets, and boom gave way to bust. Investors suffered large financial losses, while Asian countries suddenly experienced large capital outflows and the macroeconomic pressures these wrought plunged countries that had been growing rapidly ("miraculously") into crisis. Much the same had happened in Latin America when the debt crisis broke in 1982. This book investigates what can be done to make the international capital market a constructive force in promoting development in emerging markets. John Williamson concludes that the problem of cyclicality that has undermined the value of international borrowing cannot be tackled just, or even mainly, from the supply side, but will require actions on the part of both creditors and debtors.
Book Synopsis Booms, Bubbles, and Busts by : Barbara Hollander
Download or read book Booms, Bubbles, and Busts written by Barbara Hollander and published by Heinemann-Raintree Library. This book was released on 2011 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: When the world recently went through an economic downturn, it was easy to forget that this had come on the heels of a high-spirited economic expansion, or boom. How did people's fortunes change so dramatically? Booms, Bubbles, and Busts: The Economic Cycle explores how the history of the global financial markets has been shaped by a repeating pattern, or cycle, of both expansions and downturns. Using straightforward language and examples, it explains key economic indicators, from spending to unemployment rates to credit, and explores how and why these indicators change over time. By unraveling the bigger financial picture, you can better understand where in the economic cycle we are today - and where we will likely be heading next. When the recent economic crisis began, many people found themselves wondering: "How did we get here?" The Global Marketplace makes sense of the recent crisis-and the global financial system more generally-by using a clear, engaging style to explore the fundamentals of investing, lending and borrowing, globalization, the economic cycle, and more. Special features include helpful charts and graphs and suggestions for further research, as well as real-life examples that help students to better understand their own role in the global marketplace. Book jacket.
Book Synopsis Boom and bust: the dynamics of economic cycles by : George Wilton
Download or read book Boom and bust: the dynamics of economic cycles written by George Wilton and published by Az Boek. This book was released on 2024-04-27 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Booms and Busts: An Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current Global Economic Crisis by : Mehmet Odekon
Download or read book Booms and Busts: An Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current Global Economic Crisis written by Mehmet Odekon and published by Routledge. This book was released on 2015-03-17 with total page 1020 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely and authoritative set explores three centuries of good times and hard times in major economies throughout the world. More than 400 signed articles cover events from Tulipmania during the 1630s to the U.S. federal stimulus package of 2009, and introduce readers to underlying concepts, recurring themes, major institutions, and notable figures. Written in a clear, accessible style, "Booms and Busts" provides vital insight and perspective for students, teachers, librarians, and the general public - anyone interested in understanding the historical precedents, causes, and effects of the global economic crisis. Special features include a chronology of major booms and busts through history, a glossary of economic terms, a guide to further research, an appendix of primary documents, a topic finder, and a comprehensive index. It features 1,050 pages; three volumes; 8-1/2" X 11"; topic finder; photos; chronology; glossary; primary documents; bibliography; and, index.
Book Synopsis Boom and Bust Banking by : David M. Beckworth
Download or read book Boom and Bust Banking written by David M. Beckworth and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exploring the forceful renewal of the boom-and-bust cycle after several decades of economic stability, this book is a research-based review of the factors that caused the 2008 recession. It offers cutting-edge diagnoses of the recession and prescriptions on how to boost the economy from leading economists. The book concentrates on the Federal Reserve and its leading role in creating the economic boom and recession of the 2000s. Aimed at professional economists and readers well versed in the basic workings of the economy, it includes innovative proposals on how to avoid future boom-and-bust cycles.
Book Synopsis The Housing Boom and Bust by : Thomas Sowell
Download or read book The Housing Boom and Bust written by Thomas Sowell and published by Basic Books (AZ). This book was released on 2009-05-12 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The "creative" financing of home mortgages and "creative" marketing of financial securities based on these mortgages to countries around the world, are part of the story of how a financial house of cards was built up--and then collapsed.
Book Synopsis Business Cycle Economics by : Todd A. Knoop
Download or read book Business Cycle Economics written by Todd A. Knoop and published by Bloomsbury Publishing USA. This book was released on 2015-02-17 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents the empirical data of business cycles and the theories that economists have developed to explain and prevent them, and considers case studies of recessions and depressions in the United States and internationally. Despite more than two centuries of debate, a definitive explanation of the causes of economic cycles still does not exist. Economists, politicians, and policymakers have argued many well-known theories as to why these peaks and slumps occur, and cyclical recessions and depressions continue in spite of the enormous intellectual reserves working to prevent them. This timely analysis presents a comprehensive overview of global economics, assessing older theories alongside of new ways of thinking to reveal the empirical methods needed to evaluate, forecast, and prevent future crises. Educator and economist Todd Knoop provides explanations of influential macroeconomic theories that have shaped modern economics, such as Keynesian economics, Neoclassical economics, Austrian economics, and New Keynesian economics. In addition, he considers case studies of specific recessions and depressions, beginning with the Great Depression through the East Asian crisis and Great Recession in Japan and culminating with a detailed examination of the European debt crisis and the 2008 global financial crisis. The work concludes with a look at the insights gained from these fiscal events as well as the major questions that still remain unanswered as a result of these crises.
Download or read book Booms and Busts written by James Ciment and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Historically, the work begins with the first great episode in modern speculation: the Dutch tulip boom of the 1630s, and concludes with the Great Recession of the late 2000s, encompassing nearly 400 years of economic history. Geographically, it includes articles on all the major economies of the world, but with an emphasis on U.S. economic history. The book extensively covers the housing and securities boom of the mid-2000s and the financial crisis and global recession that followed."--Introduction.
Download or read book Booms and Busts written by James Ciment and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "This three-volume set covers a broad spectrum of topics relating to the economic cycles known as booms and busts. The encyclopedia is international in scope with an emphasis on the recent U.S. financial crisis and its key players. Topics span approximately 400 years of relevant economic history and schools of thought, and this makes the set useful to those seeking both a practical and a theoretical foundation for examining the economic boom and bust cycle. It's composed of 364 signed entries presented alphabetically by subject matter, name of entity, or name of individual. The entries run between one and ten pages in length and are well written and clearly presented, though readers should be prepared for varying levels of difficulty of the subject matter and supporting text. Suggestions for further reading via books, articles, and websites follow every entry; a limited glossary is also included."--Pub. desc.
Book Synopsis Hysteresis and Business Cycles by : Ms.Valerie Cerra
Download or read book Hysteresis and Business Cycles written by Ms.Valerie Cerra and published by International Monetary Fund. This book was released on 2020-05-29 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Book Synopsis The Economics of World War I by : Stephen Broadberry
Download or read book The Economics of World War I written by Stephen Broadberry and published by Cambridge University Press. This book was released on 2005-09-29 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique volume offers a definitive new history of European economies at war from 1914 to 1918. It studies how European economies mobilised for war, how existing economic institutions stood up under the strain, how economic development influenced outcomes and how wartime experience influenced post-war economic growth. Leading international experts provide the first systematic comparison of economies at war between 1914 and 1918 based on the best available data for Britain, Germany, France, Russia, the USA, Italy, Turkey, Austria-Hungary and the Netherlands. The editors' overview draws some stark lessons about the role of economic development, the importance of markets and the damage done by nationalism and protectionism. A companion volume to the acclaimed The Economics of World War II, this is a major contribution to our understanding of total war.
Download or read book Crash! written by Phillip G. Payne and published by JHU Press. This book was released on 2015-12-01 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: The irrationally exuberant highs and lows of the 1920s can help students recognize boom and bust cycles past, present, and future. Speculation—an economic reality for centuries—is a hallmark of the modern U.S. economy. But how does speculation work? Is it really caused, as some insist, by popular delusions and the madness of crowds, or do failed regulations play a greater part? And why is it that investors never seem to learn the lessons of past speculative bubbles? Crash! explores these questions by examining the rise and fall of the American economy in the 1920s. Phillip G. Payne frames the story of the 1929 stock market crash within the booming New Era economy of the 1920s and the bust of the Great Depression. Taking into account the emotional drivers of the consumer market, he offers a clear, concise explanation of speculation's complex role in creating one of the greatest financial panics in U. S. history. Crash! explains how postWorld War I changes in the global financial markets transformed the world economy, examines the role of boosters and politicians in promoting speculation, and describes in detail the disastrous aftermath of the 1929 panic. Payne's book will help students recognize the telltale signs of bubbles and busts, so that they may become savvier consumers and investors.
Book Synopsis International Macroeconomics in the Wake of the Global Financial Crisis by : Laurent Ferrara
Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
