The Next Crisis

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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 : 43,9 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 : 387 pages
File Size : 42,6 Mb
Release : 2020-12-28
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.

Preparing for the Next Financial Crisis

Esa Jokivuolle,Radu Tunaru
Preparing for the Next Financial Crisis Book PDF

Author : Esa Jokivuolle,Radu Tunaru
Publisher : Cambridge University Press
Page : 205 pages
File Size : 51,6 Mb
Release : 2017-11-16
Category : Business & Economics
ISBN : 9781107185593

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Preparing for the Next Financial Crisis by Esa Jokivuolle,Radu Tunaru Pdf

This book uses perspectives of finance and banking to offer predictions on future financial crises, and how we can prepare for them.

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 : 52,7 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.

Misunderstanding Financial Crises

Gary B. Gorton
Misunderstanding Financial Crises Book PDF

Author : Gary B. Gorton
Publisher : Oxford University Press
Page : 296 pages
File Size : 54,5 Mb
Release : 2012-11-02
Category : Business & Economics
ISBN : 9780199986880

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Misunderstanding Financial Crises by Gary B. Gorton Pdf

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.

The New Twenty Years' Crisis

Philip Cunliffe
The New Twenty Years Crisis Book PDF

Author : Philip Cunliffe
Publisher : McGill-Queen's Press - MQUP
Page : 151 pages
File Size : 40,9 Mb
Release : 2020-09-01
Category : Political Science
ISBN : 9780228002413

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The New Twenty Years' Crisis by Philip Cunliffe Pdf

The liberal order is decaying. Will it survive, and if not, what will replace it? On the eightieth anniversary of the publication of E.H. Carr's The Twenty Years' Crisis, 1919-1939, Philip Cunliffe revisits this classic text, juxtaposing its claims with contemporary debates on the rise and fall of the liberal international order. The New Twenty Years' Crisis reveals that the liberal international order experienced a twenty-year cycle of decline from 1999 to 2019. In contrast to claims that the order has been undermined by authoritarian challengers, Cunliffe argues that the primary drivers of the crisis are internal. He shows that the heavily ideological international relations theory that has developed since the end of the Cold War is clouded by utopianism, replacing analysis with aspiration and expressing the interests of power rather than explaining its functioning. As a result, a growing tendency to discount political alternatives has made us less able to adapt to political change. In search of a solution, this book argues that breaking through the current impasse will require not only dissolving the new forms of utopianism, but also pushing past the fear that the twenty-first century will repeat the mistakes of the twentieth. Only then can we finally escape the twenty years' crisis. By reflecting on Carr's foundational work, The New Twenty Years' Crisis offers an opportunity to take stock of the current state of international order and international relations theory.

The New Urban Crisis

Richard Florida
The New Urban Crisis Book PDF

Author : Richard Florida
Publisher : Basic Books
Page : 0 pages
File Size : 46,5 Mb
Release : 2018-05-08
Category : Social Science
ISBN : 1541644123

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The New Urban Crisis by Richard Florida Pdf

Richard Florida, one of the world's leading urbanists and author of The Rise of the Creative Class, confronts the dark side of the back-to-the-city movement In recent years, the young, educated, and affluent have surged back into cities, reversing decades of suburban flight and urban decline. and yet all is not well. In The New Urban Crisis, Richard Florida, one of the first scholars to anticipate this back-to-the-city movement, demonstrates how the forces that drive urban growth also generate cities' vexing challenges, such as gentrification, segregation, and inequality. Meanwhile, many more cities still stagnate, and middle-class neighborhoods everywhere are disappearing. We must rebuild cities and suburbs by empowering them to address their challenges. The New Urban Crisis is a bracingly original work of research and analysis that offers a compelling diagnosis of our economic ills and a bold prescription for more inclusive cities capable of ensuring prosperity for all.

The Next Crisis

David Woodward
The Next Crisis Book PDF

Author : David Woodward
Publisher : Zed Books
Page : 264 pages
File Size : 41,6 Mb
Release : 2001-10
Category : Political Science
ISBN : UOM:39015053505775

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The Next Crisis by David Woodward Pdf

Foreign direct investment has been heralded as the key benefit which globalization offers the South and the mechanism to kickstart economies into rapid growth. This careful and penetrating economic study analyzes what is actually happening to direct investment, its various impacts and just how little we know about it. It assesses the scale of the flows involved; their systematic under-valuation in official statistics; their geographically skewed distribution; the very high rates of return; the risks of large substantial outflows of resources; the massive shift towards foreign ownership required to avoid them; the potentially depressive effect of over-investment on the prices of many traditional Third World exports; and the adverse implications for national sovereignty, social welfare and democratic rights. More dramatically, David Woodward shows how FDI may have contributed to the Asian financial crisis and could lead to a new wave of similar financial crises throughout the developing world.

Leveraged

Moritz Schularick
Leveraged Book PDF

Author : Moritz Schularick
Publisher : University of Chicago Press
Page : 318 pages
File Size : 51,5 Mb
Release : 2022-12-14
Category : Business & Economics
ISBN : 9780226816937

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Leveraged by Moritz Schularick Pdf

Introduction : the new economics of debt and financial fragility /Moritz Schularik --Part 1. Finance unbound : the rise of finance and the economy.How to think about finance /Atif Mian ; comment by Karen Dynan --Reconsidering the costs and benefits of debt booms for the economy /Emil Verner ; comment by Holger Mueller --Part 2. Risk-taking : incentives, investors, institutions.Are bank CEO's to blame? /Rüdiger Fahlenbrach ; comment by Sameul G. Hanson --A new narrative of investors, subprime lending, and the 2008 crisis /Stefania Albanesi ; comment by Fernando Ferreira --Bank capital before and after financial crises /Òscar Jordà, Björn Richter, Moritz Schularick, and Alan M. Taylor ; comment by Anna Kovner --Part 3. Mispricing risks : credit booms and risk premia.Beliefs and risk-taking /Alessia de Stefani and Kaspar Zimmermann ; comment by Yueran Ma --A new approach to measuring banks' risk exposure /Juliane Begenau ; comment by Nina Boyarchenko --Is risk mispriced in credit booms? /Tyler Muir --Part 4. Financial crises : reconsidering the origins and consequences.Historical banking crises : a new database and a reassessment of their incidence and severity /Matthew Baron and Daniel Dieckelmann ; comment by Mark Carlson --Was the U.S. Great Depression a credit boom gone wrong? /Natascha Postel-Vinah ; comment by Eugene N. White --Sectoral credit booms and financial stability /Kärsten Muller ; comment by Orsola Costantini.

Crashed

Adam Tooze
Crashed Book PDF

Author : Adam Tooze
Publisher : Penguin
Page : 720 pages
File Size : 52,7 Mb
Release : 2018-08-07
Category : Business & Economics
ISBN : 9780525558804

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Crashed by Adam Tooze Pdf

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.

China and the Credit Crisis

Giles Chance
China and the Credit Crisis Book PDF

Author : Giles Chance
Publisher : John Wiley & Sons
Page : 241 pages
File Size : 42,6 Mb
Release : 2010
Category : Business & Economics
ISBN : 9780470825075

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China and the Credit Crisis by Giles Chance Pdf

The western world attributed China’s role as world’s largest financer of the developed world and third largest economy in the world to new economic efficiencies, a revolution in risk management and its own wise policies. China and the Credit Crisis argues that if the extent of the role played in the new prosperity by an emerging China, and the fundamental nature of the changes it brought had been better understood, more appropriate policies and actions would have been adopted at the time which could have avoided the crash, or at least limited its impact. China’s Credit Crisis examines the larger role that China will play in the recovery from the current credit crisis and in the post-crisis world. It addresses the major questions which arise from the financial crisis and discuss the landscape of the post-credit crisis world, initially by continuing to provide growth to a world deep in recession, and later by sharing global economic and political leadership

The Coming First World Debt Crisis

A. Pettifor
The Coming First World Debt Crisis Book PDF

Author : A. Pettifor
Publisher : Springer
Page : 190 pages
File Size : 40,6 Mb
Release : 2006-10-02
Category : Political Science
ISBN : 9780230236752

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The Coming First World Debt Crisis by A. Pettifor Pdf

In this book, Ann Pettifor examines the issues of debt affecting the 'first world' or OECD countries, looking at the history, politics and ethics of the coming debt crisis and exploring the implications of high international indebtedness for governments, corporations, households, individuals and the ecosystem.

Preparing for the Next Foreign Policy Crisis

Paul B. Stares
Preparing for the Next Foreign Policy Crisis Book PDF

Author : Paul B. Stares
Publisher : Council on Foreign Relations Press
Page : 104 pages
File Size : 44,7 Mb
Release : 2019-12-16
Category : International relations
ISBN : 0876097840

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Preparing for the Next Foreign Policy Crisis by Paul B. Stares Pdf

It is vital that the United States devote more attention and resources to preventing and managing potential crises. This report is a distillation of the Center for Preventive Action's findings and recommendations for achieving this goal.

Mutual Aid

Dean Spade
Mutual Aid Book PDF

Author : Dean Spade
Publisher : Verso Books
Page : 161 pages
File Size : 41,5 Mb
Release : 2020-10-27
Category : Political Science
ISBN : 9781839762123

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Mutual Aid by Dean Spade Pdf

Mutual aid is the radical act of caring for each other while working to change the world. Around the globe, people are faced with a spiralling succession of crises, from the Covid-19 pandemic and climate change-induced fires, floods, and storms to the ongoing horrors of mass incarceration, racist policing, brutal immigration enforcement, endemic gender violence, and severe wealth inequality. As governments fail to respond to—or actively engineer—each crisis, ordinary people are finding bold and innovative ways to share resources and support the vulnerable. Survival work, when done alongside social movement demands for transformative change, is called mutual aid. This book is about mutual aid: why it is so important, what it looks like, and how to do it. It provides a grassroots theory of mutual aid, describes how mutual aid is a crucial part of powerful movements for social justice, and offers concrete tools for organizing, such as how to work in groups, how to foster a collective decision-making process, how to prevent and address conflict, and how to deal with burnout. Writing for those new to activism as well as those who have been in social movements for a long time, Dean Spade draws on years of organizing to offer a radical vision of community mobilization, social transformation, compassionate activism, and solidarity.

Preventing the Next Financial Crisis

Víctor A. Beker
Preventing the Next Financial Crisis Book PDF

Author : Víctor A. Beker
Publisher : Routledge
Page : 160 pages
File Size : 42,8 Mb
Release : 2021
Category : Business & Economics
ISBN : 1003039685

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Preventing the Next Financial Crisis by Víctor 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 todays 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"--