The Financial And Economic Crises

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The Financial Crisis Inquiry Report

Financial Crisis Inquiry Commission
The Financial Crisis Inquiry Report Book PDF

Author : Financial Crisis Inquiry Commission
Publisher : Cosimo, Inc.
Page : 692 pages
File Size : 48,8 Mb
Release : 2011-05-01
Category : Political Science
ISBN : 9781616405410

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The Financial Crisis Inquiry Report by Financial Crisis Inquiry Commission Pdf

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.

Economic Policy and the Financial Crisis

Łukasz Mamica,Pasquale Tridico
Economic Policy and the Financial Crisis Book PDF

Author : Łukasz Mamica,Pasquale Tridico
Publisher : Routledge
Page : 321 pages
File Size : 40,5 Mb
Release : 2014-03-26
Category : Business & Economics
ISBN : 9781134591459

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Economic Policy and the Financial Crisis by Łukasz Mamica,Pasquale Tridico Pdf

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 Financial and Economic Crises

Benton E. Gup
The Financial and Economic Crises Book PDF

Author : Benton E. Gup
Publisher : Edward Elgar Publishing
Page : 257 pages
File Size : 48,7 Mb
Release : 2010-01-01
Category : Business & Economics
ISBN : 9781849806763

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The Financial and Economic Crises by Benton E. Gup Pdf

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.

Rethinking the Financial Crisis

Alan S. Blinder,Andrew W. Loh,Robert M. Solow
Rethinking the Financial Crisis Book PDF

Author : Alan S. Blinder,Andrew W. Loh,Robert M. Solow
Publisher : Russell Sage Foundation
Page : 375 pages
File Size : 53,9 Mb
Release : 2013-01-03
Category : Business & Economics
ISBN : 9781610448154

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Rethinking the Financial Crisis by Alan S. Blinder,Andrew W. Loh,Robert M. Solow Pdf

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.

Financial Crises

Mr.Stijn Claessens,Mr.Ayhan Kose,Mr.Luc Laeven,Mr.Fabian Valencia
Financial Crises Book PDF

Author : Mr.Stijn Claessens,Mr.Ayhan Kose,Mr.Luc Laeven,Mr.Fabian Valencia
Publisher : International Monetary Fund
Page : 670 pages
File Size : 54,5 Mb
Release : 2014-02-19
Category : Business & Economics
ISBN : 9781475543407

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Financial Crises by Mr.Stijn Claessens,Mr.Ayhan Kose,Mr.Luc Laeven,Mr.Fabian Valencia Pdf

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 Handbook of the Political Economy of Financial Crises

Martin H. Wolfson,Gerald A. Epstein
The Handbook of the Political Economy of Financial Crises Book PDF

Author : Martin H. Wolfson,Gerald A. Epstein
Publisher : OUP USA
Page : 785 pages
File Size : 53,7 Mb
Release : 2013-02-21
Category : Political Science
ISBN : 9780199757237

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The Handbook of the Political Economy of Financial Crises by Martin H. Wolfson,Gerald A. Epstein Pdf

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 System

George Chacko,Carolyn L. Evans,Hans Gunawan,Anders Sjoman
The Global Economic System Book PDF

Author : George Chacko,Carolyn L. Evans,Hans Gunawan,Anders Sjoman
Publisher : FT Press
Page : 258 pages
File Size : 55,8 Mb
Release : 2011-06-08
Category : Business & Economics
ISBN : 9780132172981

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The Global Economic System by George Chacko,Carolyn L. Evans,Hans Gunawan,Anders Sjoman Pdf

Written for financial professionals, the authors thoroughly explain the modern global credit system; the roles of banks, hedge funds, insurers, central banks, mortgage markets, and other participants; and the credit-related instruments they rely on. In particular, the authors illuminate the crucial importance of liquidity, and show why liquidity failures have been the key cause of all major market crashes for the past several decades. The Global Financial System thoroughly examines economic environments in which slow de-leveraging leads to prolonged sluggish growth, and compares today's environment to other periods of deleveraging, such as the Great Depression and the Japanese economic meltdown of the '90s and '00s. It predicts potential pathways for the current crisis, and offers essential guidance to both policymakers and investment decision-makers.

Financial Markets and Financial Crises

R. Glenn Hubbard,National Bureau of Economic Research
Financial Markets and Financial Crises Book PDF

Author : R. Glenn Hubbard,National Bureau of Economic Research
Publisher : University of Chicago Press
Page : 420 pages
File Size : 46,6 Mb
Release : 1991-08-13
Category : Business & Economics
ISBN : 0226355888

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Financial Markets and Financial Crises by R. Glenn Hubbard,National Bureau of Economic Research Pdf

Warnings of the threat of an impending financial crisis are not new, but do we really know what constitutes an actual episode of crisis and how, once begun, it can be prevented from escalating into a full-blown economic collapse? Using both historical and contemporary episodes of breakdowns in financial trade, contributors to this volume draw insights from theory and empirical data, from the experience of closed and open economies worldwide, and from detailed case studies. They explore the susceptibility of American corporations to economic downturns; the origins of banking panics; and the behavior of financial markets during periods of crisis. Sever papers specifically address the current thrift crisis—including a detailed analysis of the over 500 FSLIC-insured thrifts in the southeast—and seriously challenge the value of recent measures aimed at preventing future collapse in that industry. Government economists and policy makers, scholars of industry and banking, and many in the business community will find these timely papers an invaluable reference.

Preventing the Next Financial Crisis

Victor A. Beker
Preventing the Next Financial Crisis Book PDF

Author : Victor A. Beker
Publisher : Taylor & Francis
Page : 160 pages
File Size : 44,9 Mb
Release : 2021-04-21
Category : Business & Economics
ISBN : 9781000375251

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Preventing the Next Financial Crisis by Victor A. Beker Pdf

The collapse of Lehman Brothers, the oldest and fourth-largest US investment bank, in September 2008 precipitated the global financial crisis. This deepened the contraction in economic activity that had already started in December 2007 and has become known as the Great Recession. Following a sluggish and uneven period of recovery, levels of private debt have recently been on the rise again making another financial crisis almost inevitable. This book answers the key question: can anything be done to prevent a new financial crisis or minimize its impact? The book opens with an analysis of the main elements responsible for the 2007/2009 financial crisis and assesses the extent to which they are still present in today ́s financial system. The responses to the financial crises - particularly the Dodd-Frank Act, the establishment of the Financial Stability Board, and attempts to regulate shadow banking – are evaluated for their effectiveness. It is found that there is a high risk of a new bubble developing, there remains a lack of transparency in the financial industry, and risk-taking continues to be incentivised among bankers and investors. Proposals are put forward to ameliorate the risks, arguing for the need for an international lender of last resort, recalling Keynes’ idea for an International Clearing Union. This book will be of significant interest to scholars and students of financial crises, financial stability, and alternative approaches to finance and economics.

Preparing for the Next Financial Crisis

Olivier de Bandt,Francoise Drumetz,Christian Pfister
Preparing for the Next Financial Crisis Book PDF

Author : Olivier de Bandt,Francoise Drumetz,Christian Pfister
Publisher : Routledge
Page : 370 pages
File Size : 54,9 Mb
Release : 2020-12-29
Category : Business & Economics
ISBN : 9780429949555

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Preparing for the Next Financial Crisis by Olivier de Bandt,Francoise Drumetz,Christian Pfister Pdf

The ramifications of the Global Financial Crisis, which erupted in 2007, continue to surprise not only the general public but also finance professionals, economists, and journalists. Faced with this challenge, Preparing for the Next Financial Crisis goes back to basics. The authors ask: what do theory and empirical observations tell us about the causes and the consequences of financial crisis and instability? In what has become an increasingly complex financial world, what lessons can we learn from economic policies, which have been implemented, and research, which has developed extremely rapidly in recent years, so as not to repeat past mistakes? In this comprehensive review of the literature, which is both complete and balanced, the authors highlight the points of consensus among economists and policymakers. They assess the capacity of economic policies and institutions in limiting the cost of financial instability. In conclusion, they ask if the financial system has become safer, in the light especially of the Covid-19 Global Crisis. Ten years after the GFC crisis, this is a timely review of the reform agenda, the progress made, and the areas where further changes need to be made to address new risks and challenges.

Global Financial Crisis and Its Ramifications on Capital Markets

Ümit Hacioğlu,Hasan Dinçer
Global Financial Crisis and Its Ramifications on Capital Markets Book PDF

Author : Ümit Hacioğlu,Hasan Dinçer
Publisher : Springer
Page : 659 pages
File Size : 40,7 Mb
Release : 2017-01-20
Category : Business & Economics
ISBN : 9783319470214

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Global Financial Crisis and Its Ramifications on Capital Markets by Ümit Hacioğlu,Hasan Dinçer Pdf

This book assesses the 2008-2009 financial crisis and its ramifications for the global economy from a multidisciplinary perspective. Current market conditions and systemic issues pose a risk to financial stability and sustained market access for emerging market borrowers. The volatile environment in the financial system became the source of major threats and some opportunities such as takeovers, mergers and acquisitions for international business operations. This volume is divided into six sections. The first evaluates the 2008-2009 Global Financial Crisis and its impacts on Global Economic Activity, examining the financial crisis in historical context, the economic slowdown, transmission of the crisis from advanced economies to emerging markets, and spillovers. The second section evaluates global imbalances, especially financial instability and the economic outlook for selected regional economies, while the third focuses on international financial institutions and fiscal policy applications. The fourth section analyzes the capital market mechanism, price fluctuations and global trade activity, while the fifth builds on new trends and business cycles to derive effective strategies and solutions for international entrepreneurship and business. In closing, the final section explores the road to economic recovery and stability by assessing the current outlook and fiscal strategies.

Financial Crisis

Adrian Buckley
Financial Crisis Book PDF

Author : Adrian Buckley
Publisher : Prentice Hall
Page : 342 pages
File Size : 41,9 Mb
Release : 2011
Category : Business & Economics
ISBN : 027373511X

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Financial Crisis by Adrian Buckley Pdf

Financial Crisis, penned by Adrian Buckley, offers a fascinating close-up analysis of the causes of the 2007/8 financial crisis and its consequences placing the world of finance under the microscope, bringing together evidence of the involvement of banks, governments and regulators. It questions some of its most dangerous and dubious practices, witnessed while searching for the answer to the question: What really caused the financial crisis?

All the Devils Are Here

Bethany McLean,Joe Nocera
All the Devils Are Here Book PDF

Author : Bethany McLean,Joe Nocera
Publisher : Penguin
Page : 416 pages
File Size : 45,9 Mb
Release : 2011-08-30
Category : Business & Economics
ISBN : 9781101551059

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All the Devils Are Here by Bethany McLean,Joe Nocera Pdf

"Hell is empty, and all the devils are here." -Shakespeare, The Tempest As soon as the financial crisis erupted, the finger-pointing began. Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers? According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, the real answer is all of the above-and more. Many devils helped bring hell to the economy. And the full story, in all of its complexity and detail, is like the legend of the blind men and the elephant. Almost everyone has missed the big picture. Almost no one has put all the pieces together. All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature. Among the devils you'll meet in vivid detail: • Angelo Mozilo, the CEO of Countrywide, who dreamed of spreading homeownership to the masses, only to succumb to the peer pressure-and the outsized profits-of the sleaziest subprime lending. • Roland Arnall, a respected philanthropist and diplomat, who made his fortune building Ameriquest, a subprime lending empire that relied on blatantly deceptive lending practices. • Hank Greenberg, who built AIG into a Rube Goldberg contraption with an undeserved triple-A rating, and who ran it so tightly that he was the only one who knew where all the bodies were buried. • Stan O'Neal of Merrill Lynch, aloof and suspicious, who suffered from "Goldman envy" and drove a proud old firm into the ground by promoting cronies and pushing out his smartest lieutenants. • Lloyd Blankfein, who helped turn Goldman Sachs from a culture that famously put clients first to one that made clients secondary to its own bottom line. • Franklin Raines of Fannie Mae, who (like his predecessors) bullied regulators into submission and let his firm drift away from its original, noble mission. • Brian Clarkson of Moody's, who aggressively pushed to increase his rating agency's market share and stock price, at the cost of its integrity. • Alan Greenspan, the legendary maestro of the Federal Reserve, who ignored the evidence of a growing housing bubble and turned a blind eye to the lending practices that ultimately brought down Wall Street-and inflicted enormous pain on the country. Just as McLean's The Smartest Guys in the Room was hailed as the best Enron book on a crowded shelf, so will All the Devils Are Here be remembered for finally making sense of the meltdown and its consequences.

The Origin of Financial Crises

George Cooper
The Origin of Financial Crises Book PDF

Author : George Cooper
Publisher : Vintage
Page : 210 pages
File Size : 55,9 Mb
Release : 2008-10-29
Category : Business & Economics
ISBN : 9780307473455

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The Origin of Financial Crises by George Cooper Pdf

In a series of disarmingly simple arguments financial market analyst George Cooper challenges the core principles of today's economic orthodoxy and explains how we have created an economy that is inherently unstable and crisis prone. With great skill, he examines the very foundations of today's economic philosophy and adds a compelling analysis of the forces behind economic crisis. His goal is nothing less than preventing the seemingly endless procession of damaging boom-bust cycles, unsustainable economic bubbles, crippling credit crunches, and debilitating inflation. His direct, conscientious, and honest approach will captivate any reader and is an invaluable aid in understanding today's economy.

The Financial Crisis Inquiry Report, Authorized Edition

Financial Crisis Inquiry Commission
The Financial Crisis Inquiry Report Authorized Edition Book PDF

Author : Financial Crisis Inquiry Commission
Publisher : PublicAffairs
Page : 576 pages
File Size : 51,8 Mb
Release : 2011-01-27
Category : Business & Economics
ISBN : 9781610390422

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The Financial Crisis Inquiry Report, Authorized Edition by Financial Crisis Inquiry Commission Pdf

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.