This time is different : eight centuries of financial folly / / Carmen M. Reinhart, Kenneth S. Rogoff

• Autore: Reinhart Carmen M
• Pubblicazione: Princeton, N.J., : Princeton Univ. P., 2009
• Edizione: 1st ed.
• Descrizione fisica: 1 online resource (xlv, 463 p.) : ill
• Disciplina: 338.542
• Soggetto topico: Business cycles; Fiscal policy; Financial crises
• Soggetto non controllato: Ben Bernanke; Big Five Crises; Big Six Crises; Charles Kindleberger; GDF; GDP growth; GFD; IMF; Inside Job; International Monetary Fund; League of Nations; Manias, Panics and Crashes; Margin Call; Second Great Contraction; The Big Short; Too Big to Fail; World Bank; bailouts; baking crises; banking panic; banking reforms; capital mobility; central banks; contagion; credit cycles; currency crashes; currency debasements; debt crises; debt cycles; debt defaults; debt intolerance; debt; defaults; deflation; domestic creditors; domestic debt; domestic default; economic downturn; equity; exchange rate crises; external default; financial combustion; financial crisis; great contraction of the 1930s; high inflation; inflation crises; inflation tax; medieval currency crisis; medieval currency debasements; multilateral lending; public debt; sovereign default; sovereign external debt crises; sovereign lending; sovereign risk; stock markets; subprime crisis; subprime mortgage
• Altri autori: RogoffKenneth S
• Nota di contenuto: PREAMBLE: SOME INITIAL INTUITIONS ON FINANCIAL FRAGILITY AND THE FICKLE NATURE OF CONFIDENCE -- PART I. Financial Crises: An Operational Primer -- PART II. Sovereign External Debt Crises -- PART III. The Forgotten History of Domestic Debt and Default -- PART IV. Banking Crises, Inflation, and Currency Crashes -- PART V. The U.S. Subprime Meltdown and the Second Great Contraction -- PART VI. What Have We Learned? -- DATA APPENDIXES -- NOTES -- REFERENCES -- NAME INDEX -- SUBJECT INDEX.
• Sommario/riassunto: Throughout history, rich and poor countries alike have been lending, borrowing, crashing - and recovering - their way through an extraordinary range of financial crises. Each time, the experts have chimed, “this time is different” - claiming that the old rules of valuation no longer apply and that the new situation bears little similarity to past disasters. With this breakthrough study, leading economists Carmen Reinhart and Kenneth Rogoff definitively prove them wrong. Covering sixty-six countries across five continents, This Time Is Different presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikes - from medieval currency debasements to today’s subprime catastrophe. Carmen Reinhart and Kenneth Rogoff, leading economists whose work has been influential in the policy debate concerning the current financial crisis, provocatively argue that financial combustions are universal rites of passage for emerging and established market nations. The authors draw important lessons from history to show us how much - or how little - we have learned. Using clear, sharp analysis and comprehensive data, Reinhart and Rogoff document that financial fallouts occur in clusters and strike with surprisingly consistent frequency, duration, and ferocity. They examine the patterns of currency crashes, high and hyperinflation, and government defaults on international and domestic debts - as well as the cycles in housing and equity prices, capital flows, unemployment, and government revenues around these crises. While countries do weather their financial storms, Reinhart and Rogoff prove that short memories make it all too easy for crises to recur. An important book that will affect policy discussions for a long time to come, This Time Is Different exposes centuries of financial missteps.
• Titolo autorizzato: This time is different
• ISBN: 9781400831722 (e-book); 9780691142166 (hbk.)
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910811676303321
• Lo trovi qui: Univ. Federico II