The Financial And Economic Crisis

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The Financial Crisis Inquiry Report

Author : Financial Crisis Inquiry Commission
Publisher : Cosimo, Inc.
ISBN 13 : 1616405414
Total Pages : 692 pages
Book Rating : 4.6/5 (164 download)

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Book Synopsis The Financial Crisis Inquiry Report by : Financial Crisis Inquiry Commission

Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

Lessons from the Financial Crisis

Author : Rob Quail
Publisher : John Wiley & Sons
ISBN 13 : 0470561777
Total Pages : 708 pages
Book Rating : 4.4/5 (75 download)

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Book Synopsis Lessons from the Financial Crisis by : Rob Quail

Download or read book Lessons from the Financial Crisis written by Rob Quail and published by John Wiley & Sons. This book was released on 2010-06-08 with total page 708 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world's best financial minds help us understand today's financial crisis With so much information saturating the market for the everyday investor, trying to understand why the economic crisis happened and what needs to be done to fix it can be daunting. There is a real need, and demand, from both investors and the financial community to obtain answers as to what really happened and why. Lessons from the Financial Crisis brings together the leading minds in the worlds of finance and academia to dissect the crisis. Divided into three comprehensive sections-The Subprime Crisis; The Global Financial Crisis; and Law, Regulation, the Financial Crisis, and The Future-this book puts the events that have transpired in perspective, and offers valuable insights into what we must do to avoid future missteps. Each section is comprised of chapters written by experienced contributors, each with his or her own point of view, research, and conclusions Examines the market collapse in detail and explores safeguards to stop future crises Encompasses the most up-to-date analysis from today's leading financial minds We currently face a serious economic crisis, but in understanding it, we can overcome the challenges it presents. This well-rounded resource offers the best chance to get through the current situation and learn from our mistakes.

Misunderstanding Financial Crises

Author : Gary B. Gorton
Publisher : Oxford University Press
ISBN 13 : 0199986886
Total Pages : 296 pages
Book Rating : 4.1/5 (999 download)

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Book Synopsis Misunderstanding Financial Crises by : Gary B. Gorton

Download or read book Misunderstanding Financial Crises written by Gary B. Gorton and published by Oxford University Press. This book was released on 2012-11-02 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Before 2007, economists thought that financial crises would never happen again in the United States, that such upheavals were a thing of the past. Gary B. Gorton, a prominent expert on financial crises, argues that economists fundamentally misunderstand what they are, why they occur, and why there were none in the U.S. from 1934 to 2007. Misunderstanding Financial Crises offers a back-to-basics overview of financial crises, and shows that they are not rare, idiosyncratic events caused by a perfect storm of unconnected factors. Instead, Gorton shows how financial crises are, indeed, inherent to our financial system. Economists, Gorton writes, looked from a certain point of view and missed everything that was important: the evolution of capital markets and the banking system, the existence of new financial instruments, and the size of certain money markets like the sale and repurchase market. Comparing the so-called "Quiet Period" of 1934 to 2007, when there were no systemic crises, to the "Panic of 2007-2008," Gorton ties together key issues like bank debt and liquidity, credit booms and manias, moral hazard, and too-big-too-fail--all to illustrate the true causes of financial collapse. He argues that the successful regulation that prevented crises since 1934 did not adequately keep pace with innovation in the financial sector, due in part to the misunderstandings of economists, who assured regulators that all was well. Gorton also looks forward to offer both a better way for economists to think about markets and a description of the regulation necessary to address the future threat of financial disaster.

Rethinking the Financial Crisis

Author : Alan S. Blinder
Publisher : Russell Sage Foundation
ISBN 13 : 1610448154
Total Pages : 375 pages
Book Rating : 4.6/5 (14 download)

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Book Synopsis Rethinking the Financial Crisis by : Alan S. Blinder

Download or read book Rethinking the Financial Crisis written by Alan S. Blinder and published by Russell Sage Foundation. This book was released on 2013-01-03 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some economic events are so major and unsettling that they “change everything.” Such is the case with the financial crisis that started in the summer of 2007 and is still a drag on the world economy. Yet enough time has now elapsed for economists to consider questions that run deeper than the usual focus on the immediate causes and consequences of the crisis. How have these stunning events changed our thinking about the role of the financial system in the economy, about the costs and benefits of financial innovation, about the efficiency of financial markets, and about the role the government should play in regulating finance? In Rethinking the Financial Crisis, some of the nation’s most renowned economists share their assessments of particular aspects of the crisis and reconsider the way we think about the financial system and its role in the economy. In its wide-ranging inquiry into the financial crash, Rethinking the Financial Crisis marshals an impressive collection of rigorous and yet empirically-relevant research that, in some respects, upsets the conventional wisdom about the crisis and also opens up new areas for exploration. Two separate chapters–by Burton G. Malkiel and by Hersh Shefrin and Meir Statman – debate whether the facts of the financial crisis upend the efficient market hypothesis and require a more behavioral account of financial market performance. To build a better bridge between the study of finance and the “real” economy of production and employment, Simon Gilchrist and Egan Zakrasjek take an innovative measure of financial stress and embed it in a model of the U.S. economy to assess how disruptions in financial markets affect economic activity—and how the Federal Reserve might do monetary policy better. The volume also examines the crucial role of financial innovation in the evolution of the pre-crash financial system. Thomas Philippon documents the huge increase in the size of the financial services industry relative to real GDP, and also the increasing cost per financial transaction. He suggests that the finance industry of 1900 was just as able to produce loans, bonds, and stocks as its modern counterpart—and it did so more cheaply. Robert Jarrow looks in detail at some of the major types of exotic securities developed by financial engineers, such as collateralized debt obligations and credit-default swaps, reaching judgments on which make the real economy more efficient and which do not. The volume’s final section turns explicitly to regulatory matters. Robert Litan discusses the political economy of financial regulation before and after the crisis. He reviews the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which he considers an imperfect but useful response to a major breakdown in market and regulatory discipline. At a time when the financial sector continues to be a source of considerable controversy, Rethinking the Financial Crisis addresses important questions about the complex workings of American finance and shows how the study of economics needs to change to deepen our understanding of the indispensable but risky role that the financial system plays in modern economies.

Crashed

Author : Adam Tooze
Publisher : Penguin
ISBN 13 : 0525558802
Total Pages : 720 pages
Book Rating : 4.5/5 (255 download)

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Book Synopsis Crashed by : Adam Tooze

Download or read book Crashed written by Adam Tooze and published by Penguin. This book was released on 2018-08-07 with total page 720 pages. Available in PDF, EPUB and Kindle. Book excerpt: WINNER OF THE LIONEL GELBER PRIZE A NEW YORK TIMES NOTABLE BOOK OF 2018 ONE OF THE ECONOMIST'S BOOKS OF THE YEAR A NEW YORK TIMES CRITICS' TOP BOOK "An intelligent explanation of the mechanisms that produced the crisis and the response to it...One of the great strengths of Tooze's book is to demonstrate the deeply intertwined nature of the European and American financial systems."--The New York Times Book Review From the prizewinning economic historian and author of Shutdown and The Deluge, an eye-opening reinterpretation of the 2008 economic crisis (and its ten-year aftermath) as a global event that directly led to the shockwaves being felt around the world today. We live in a world where dramatic shifts in the domestic and global economy command the headlines, from rollbacks in US banking regulations to tariffs that may ignite international trade wars. But current events have deep roots, and the key to navigating today’s roiling policies lies in the events that started it all—the 2008 economic crisis and its aftermath. Despite initial attempts to downplay the crisis as a local incident, what happened on Wall Street beginning in 2008 was, in fact, a dramatic caesura of global significance that spiraled around the world, from the financial markets of the UK and Europe to the factories and dockyards of Asia, the Middle East, and Latin America, forcing a rearrangement of global governance. With a historian’s eye for detail, connection, and consequence, Adam Tooze brings the story right up to today’s negotiations, actions, and threats—a much-needed perspective on a global catastrophe and its long-term consequences.

Economic Policy and the Financial Crisis

Author : Łukasz Mamica
Publisher : Routledge
ISBN 13 : 1134591454
Total Pages : 321 pages
Book Rating : 4.1/5 (345 download)

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Book Synopsis Economic Policy and the Financial Crisis by : Łukasz Mamica

Download or read book Economic Policy and the Financial Crisis written by Łukasz Mamica and published by Routledge. This book was released on 2014-03-26 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: The consequences of the global economic crisis which started in the United States in 2007-08 are still being felt in most of the advanced economies, and the mainstream tools of recovery are not having the required results. It seems that many of the after-effects of the crisis, including the instability of the financial markets, increasing public debts and limited economic growth, require new solutions from both economic policy and theory. Lower aggregate demand during the crisis increased the pressure on firms to be more competitive and at the same time, the crisis in the banking system has had a negative impact on the willingness of financial institutions to give credit to companies for investment. Therefore, the key issue for current economic policy is to find a balance between the stabilisation of public finance and maintaining the momentum of long-term growth. This book offers an evolutionary-developmental analysis, combining elements of neo-Schumpeterian economics, institutional economics and post-Keynesian economics, to show that selection processes within an economy, and the institutional rules shaping those processes, are substantially more important than usually recognised by evolutionary economic theory. Two major challenges for economic theory and policy, in particular, have emerged during the crisis. The first is the rise of unemployment coupled with growing public deficits. The second is the financial instability which threatens the permanence of economic development. This book examines the performance of the advanced economies since the crisis and explores why some of them have been more successful in tackling these challenges than others. It is argued that the reasons for the varied performances of these economies lie in the economic policies which were introduced before and in the aftermath of the crisis and the differences in the regulation of their labour markets. This volume will be of interest to students and academics in the areas of macroeconomics, public economics and public management.

The Risk of Economic Crisis

Author : Martin Feldstein
Publisher : University of Chicago Press
ISBN 13 : 0226241831
Total Pages : 208 pages
Book Rating : 4.2/5 (262 download)

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Book Synopsis The Risk of Economic Crisis by : Martin Feldstein

Download or read book The Risk of Economic Crisis written by Martin Feldstein and published by University of Chicago Press. This book was released on 2009-02-15 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: The stunning collapse of the thrift industry, the major stock slump of 1987, rising corporate debt, wild fluctuations of currency exchange rates, and a rash of defaults on developing country debts have revived fading memories of the Great Depression and fueled fears of an impending economic crisis. Under what conditions are financial markets vulnerable to disruption and what economic consequences ensue when these markets break down? In this accessible and thought-provoking volume, Benjamin M. Friedman investigates the origins of financial crisis in domestic capital markets, Paul Krugman examines the international origins and transmission of financial and economic crises, and Lawrence H. Summers explores the transition from financial crisis to economic collapse. In the introductory essay, Martin Feldstein reviews the major financial problems of the 1980s and discusses lessons to be learned from this experience. The book also contains provocative observations by senior academics and others who have played leading roles in business and government.

Financial Crises

Author : Mr.Stijn Claessens
Publisher : International Monetary Fund
ISBN 13 : 1475543409
Total Pages : 670 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Financial Crises by : Mr.Stijn Claessens

Download or read book Financial Crises written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2014-02-19 with total page 670 pages. Available in PDF, EPUB and Kindle. Book excerpt: The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries, are discussed.

The Financial Crisis Inquiry Report, Authorized Edition

Author : Financial Crisis Inquiry Commission
Publisher : PublicAffairs
ISBN 13 : 1610390423
Total Pages : 576 pages
Book Rating : 4.6/5 (13 download)

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Book Synopsis The Financial Crisis Inquiry Report, Authorized Edition by : Financial Crisis Inquiry Commission

Download or read book The Financial Crisis Inquiry Report, Authorized Edition written by Financial Crisis Inquiry Commission and published by PublicAffairs. This book was released on 2011-01-27 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive report on what caused America's economic meltdown and who was responsibleThe financial and economic crisis has touched the lives of millions of Americans who have lost their jobs and their homes, but many have little understanding of how it happened. Now, in this very accessible report, readers can get the facts. Formed in May 2009, the Financial Crisis Inquiry Commission (FCIC) is a panel of 10 commissioners with experience in business, regulations, economics, and housing, chosen by Congress to explain what happened and why it happened. This panel has had subpoena power that enabled them to interview people and examine documents that no reporter had access to. The FCIC has reviewed millions of pages of documents, and interviewed more than 600 leaders, experts, and participants in the financial markets and government regulatory agencies, as well as individuals and businesses affected by the crisis. In the tradition of The 9/11 Commission Report, "The Financial Crisis Inquiry Report" will be a comprehensive book for the lay reader, complete with a glossary, charts, and easy-to-read diagrams, and a timeline that includes important events. It will be read by policy makers, corporate executives, regulators, government agencies, and the American people.

The Financial and Economic Crisis

Author : International Labour Organization
Publisher :
ISBN 13 : 9789290149002
Total Pages : 0 pages
Book Rating : 4.1/5 (49 download)

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Book Synopsis The Financial and Economic Crisis by : International Labour Organization

Download or read book The Financial and Economic Crisis written by International Labour Organization and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The banking crisis of 2008 has brought about the worst global economic catastrophe since the Great Depression. The real economy is at risk and job prospects continue to diminish. This timely study reviews world-wide responses to the crisis and contributes to the ongoing debate on restoring stability. The study pinpoints global imbalances, decent work deficits and inequalities as significant contributors to the crisis and discusses the need for a global jobs pact in order to support recovery. With a focus on promoting employment and social protection, and international commitment to a strong, clean and fair economy, the recovery stimulus pact would pave the way for sustainable growth and development. Written in preparation for the discussions at the International Labour Conference in June 2009, the objective of this book is to provide timely evidence-based policy analysis on how ILO Members can best mitigate the effects of the crisis on enterprises and workers

The Financial and Economic Crises

Author : Benton E. Gup
Publisher : Edward Elgar Publishing
ISBN 13 : 1849806764
Total Pages : 257 pages
Book Rating : 4.8/5 (498 download)

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Book Synopsis The Financial and Economic Crises by : Benton E. Gup

Download or read book The Financial and Economic Crises written by Benton E. Gup and published by Edward Elgar Publishing. This book was released on 2010-01-01 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2007 financial and economic crisis that began in the United States and quickly spread around the world differed from earlier crises in a number of significant ways. This book examines the causes of these events in the US, and their impacts on North America, Europe, Asia and Australia. As with previous crises, real estate booms and busts and excessive financial leverage played key roles; however, the most recent crisis had many unique aspects to it, all of which are explored here in depth. This includes the role played by large international banks, shadow banks, increased global liquidity, population growth and other factors. Collectively, these factors contributed to interconnected economies and financial markets to an extent that never existed before. The net result was the unprecedented ripple effect of the crisis from the US and into the rest of the world. The impact in the US was significantly different than the impact in Canada, Japan, Spain and other countries. Significantly, the global effects of the crisis varied widely from country to country, as did government responses to the crisis. The contributors to this book international academics, bank regulators, and practitioners critique the crises and important international regulatory issues from the point of view of various countries. Academics, regulators, legislators and financial practitioners will do well to add this book to their shelves.

Financial Crises Explanations, Types, and Implications

Author : Mr.Stijn Claessens
Publisher : International Monetary Fund
ISBN 13 : 1475561008
Total Pages : 66 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Financial Crises Explanations, Types, and Implications by : Mr.Stijn Claessens

Download or read book Financial Crises Explanations, Types, and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.

How Latvia Came Through the Financial Crisis

Author : Anders Åslund
Publisher : Peterson Institute
ISBN 13 : 088132602X
Total Pages : 159 pages
Book Rating : 4.8/5 (813 download)

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Book Synopsis How Latvia Came Through the Financial Crisis by : Anders Åslund

Download or read book How Latvia Came Through the Financial Crisis written by Anders Åslund and published by Peterson Institute. This book was released on 2011 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: Latvia stands out as the East European country hardest hit by the global financial crisis; it lost approximately 25 percent of its GDP between 2008 and 2010. It was also the most overheated economy before the crisis. But in the second half of 2010, Latvia returned to economic growth. How did this happen so quickly? Current Latvian Prime Minister Valdis Dombrovskis, who shepherded Latvia through the crisis, and renowned author Anders slund discuss why the Latvian economy became so overheated; why an IMF and European Union stabilization program was needed; what the Latvian government did to resolve the financial crisis and why it made these choices; and what the outcome has been. This book offers a rare insider's look at how a national government responded to a global financial crisis, made tough choices, and led the country back to economic growth.

Crisis Economics

Author : Nouriel Roubini
Publisher : Penguin
ISBN 13 : 1101427426
Total Pages : 368 pages
Book Rating : 4.1/5 (14 download)

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Book Synopsis Crisis Economics by : Nouriel Roubini

Download or read book Crisis Economics written by Nouriel Roubini and published by Penguin. This book was released on 2010-05-11 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: This myth shattering book reveals the methods Nouriel Roubini used to foretell the current crisis before other economists saw it coming and shows how those methods can help us make sense of the present and prepare for the future. Renowned economist Nouriel Roubini electrified his profession and the larger financial community by predicting the current crisis well in advance of anyone else. Unlike most in his profession who treat economic disasters as freakish once-in-a-lifetime events without clear cause, Roubini, after decades of careful research around the world, realized that they were both probable and predictable. Armed with an unconventional blend of historical analysis and global economics, Roubini has forced politicians, policy makers, investors, and market watchers to face a long-neglected truth: financial systems are inherently fragile and prone to collapse. Drawing on the parallels from many countries and centuries, Nouriel Roubini and Stephen Mihm, a professor of economic history and a New York Times Magazine writer, show that financial cataclysms are as old and as ubiquitous as capitalism itself. The last two decades alone have witnessed comparable crises in countries as diverse as Mexico, Thailand, Brazil, Pakistan, and Argentina. All of these crises-not to mention the more sweeping cataclysms such as the Great Depression-have much in common with the current downturn. Bringing lessons of earlier episodes to bear on our present predicament, Roubini and Mihm show how we can recognize and grapple with the inherent instability of the global financial system, understand its pressure points, learn from previous episodes of "irrational exuberance," pinpoint the course of global contagion, and plan for our immediate future. Perhaps most important, the authors-considering theories, statistics, and mathematical models with the skepticism that recent history warrants—explain how the world's economy can get out of the mess we're in, and stay out. In Roubini's shadow, economists and investors are increasingly realizing that they can no longer afford to consider crises the black swans of financial history. A vital and timeless book, Crisis Economics proves calamities to be not only predictable but also preventable and, with the right medicine, curable.

The Financial Crisis Inquiry Report, Authorized Edition

Author : United States. Financial Crisis Inquiry Commission
Publisher : Public Affairs
ISBN 13 : 1610390415
Total Pages : 578 pages
Book Rating : 4.6/5 (13 download)

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Book Synopsis The Financial Crisis Inquiry Report, Authorized Edition by : United States. Financial Crisis Inquiry Commission

Download or read book The Financial Crisis Inquiry Report, Authorized Edition written by United States. Financial Crisis Inquiry Commission and published by Public Affairs. This book was released on 2011-01-27 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the causes of the financial crisis that began in 2008 and reveals the weaknesses found in financial regulation, excessive borrowing, and breaches in accountability.

The Handbook of the Political Economy of Financial Crises

Author : Martin H. Wolfson
Publisher : OUP USA
ISBN 13 : 0199757232
Total Pages : 785 pages
Book Rating : 4.1/5 (997 download)

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Book Synopsis The Handbook of the Political Economy of Financial Crises by : Martin H. Wolfson

Download or read book The Handbook of the Political Economy of Financial Crises written by Martin H. Wolfson and published by OUP USA. This book was released on 2013-02-21 with total page 785 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Great Financial Crisis that began in 2007-2008 reminds us with devastating force that financial instability and crises are endemic to capitalist economies. This Handbook describes the theoretical, institutional, and historical factors that can help us understand the forces that create financial crises.

The Global Economic Crisis

Author : Larry Allen
Publisher : Reaktion Books
ISBN 13 : 1780231288
Total Pages : 274 pages
Book Rating : 4.7/5 (82 download)

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Book Synopsis The Global Economic Crisis by : Larry Allen

Download or read book The Global Economic Crisis written by Larry Allen and published by Reaktion Books. This book was released on 2013-06-01 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: From Greece scrambling to meet Eurozone austerity measures to America’s sluggish job growth, there is every indication that the world has not recovered from the economic implosion of 2008. And for many of us, the details of what led to the recession—and why it has continued—remain murky. Economic historian Larry Allen clears up the subject in The Global Economic Crisis, offering an insightful and nonpartisan chronology of events and their consequences. Illuminating the interlocked economic processes that lay beneath the crisis, he analyzes the changing nature of the global financial system, central bank policies, housing bubbles, deregulation, sovereign debt crises, and more. Allen begins the timeline with the economic crisis in Japan in the late 1990s, asking whether Japan’s experience could be an indicator of the outcome of the recession and what it can teach us about managing a sluggish economy. He then takes a comparative look at the economies of Brazil, China, and India. Throughout, he argues that many elements have contributed to the ongoing crisis, including the introduction of the euro, the growth of new financial instruments such as securitization, collateralized debt obligations and credit default swaps, interest rate policies, and the housing boom and subprime mortgage fiasco. Lucid and informative, The Global Economic Crisis provides an impartial explanation to anyone seeking to understand the current state—and future—of the world’s economy.