Misunderstanding Financial Crises Why We Don't See Them Coming

Name: Misunderstanding Financial Crises Why We Don't See Them Coming
Price: 2.82 USD
Availability: InStock
ISBN: 9780199922901

ISBN-10: 019992290X

ISBN-13: 9780199922901

Edition: 2012

Authors: Gary B. Gorton

List price: $31.99

30 day, 100% satisfaction guarantee!

Buy new: $25.06

Marketplace

5 new & used from $2.82

what's this?

Rush Rewards U
Members Receive:

You have reached 400 XP and carrot coins. That is the daily max!

Description:

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 Crisesoffers 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. 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…

Book details

List price: $31.99
Copyright year: 2012
Publisher: Oxford University Press, Incorporated
Publication date: 11/2/2012
Binding: Hardcover
Pages: 240
Size: 6.38" wide x 9.33" long x 0.80" tall
Weight: 1.188
Language: English



Preface



Introduction



Creating the Quiet Period



Financial Crises



Liquidity and Secrets



Credit Booms and Manias



The Timing of Crises



Economic Theory without History



Debt During Crises



The Quiet Period and its End



Moral Hazard and Too-Big-To-Fail



Bank Capital



Fat Cats, Crisis Costs, and the Paradox of Financial Crises



The Panic of 2007-8



The Theory and Practice of Seeing


Bibliographic Notes


Notes


References


Index