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Misunderstanding Financial Crises Why We Don't See Them Coming

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ISBN-10: 019992290X

ISBN-13: 9780199922901

Edition: 2012

Authors: Gary B. Gorton

List price: $29.95
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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…    
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Book details

List price: $29.95
Copyright year: 2012
Publisher: Oxford University Press, Incorporated
Publication date: 11/2/2012
Binding: Hardcover
Pages: 304
Size: 6.25" wide x 9.75" long x 1.00" tall
Weight: 1.452
Language: English

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