What caused the financial crisis:
Saved in:
| Format: | Book |
|---|---|
| Language: | English |
| Published: |
Philadelphia [u.a.]
Univ. of Pennsylvania Press
2011
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis Klappentext |
| Item Description: | Incl. bibliogr. references (S. [319]-335) and index. - Enth. 12 Beitr. |
| Physical Description: | IX, 360 S. graph. Darst. 22 cm |
| ISBN: | 9780812221183 |
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MARC
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| 245 | 1 | 0 | |a What caused the financial crisis |c ed. by Jeffrey Friedman |
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Record in the Search Index
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| adam_text | Contents
List of Illustrations
1.
Capitalism and the Crisis: Bankers, Bonuses,
Ideology, and Ignorance
Jeffrey Friedman
Part I. The Crisis in Historical Perspective
2.
An Accident Waiting to Happen: Securities Regulation
and Financial Deregulation
69
Amar
Bhidé
3.
Monetary Policy, Credit Extension, and Housing Bubbles,
2008
and
1929 107
Steven Gjerstad and Vernon L. Smith
Part II. What Went Wrong (and Whal Didn t)?
4.
The Anatomy of a Murder: Who Killed
the American Economy?
139
Joseph E. Stiglitz
5.
Monetary Policy, Economic Policy, and the Financial Crisis:
An Empirical Analysis of What Went Wrong
150
John B. Taylor
6.
Housing Initiatives and Other Policy Factors
Peter J. Wallison
172
vi
Contents
7.
How Securitization Concentrated Risk
in the Financial Sector
Viral V. Acharya and Matthew Richardson
183
8.
A Regulated Meltdown:
The Basel Rules and Banks Leverage
Juliusz Jabłecki
and
Mateusz Machaj
200
9.
The Credit-Rating Agencies and the Subprime Debacle
228
Lawrence J. White
10.
Credit-Default Swaps and the Crisis
238
Peter J. Wallison
Part HI. Economists Economies, and the Financial Crisis
11.
The Crisis of
2008:
Lessons for and from Economics
Daron Acemoglu
251
12.
The Financial Crisis and the Systemic Failure
of the Economics Profession
262
David Colander, Michael Goldberg,
Armin Haas, Katarina Juselius,
Alan Kirman,
Thomas Lux, and
Brigitte
Sloth
Afterword: The Causes of the Financial Crisis
279
Richard A. Posner
List of Abbreviations and Acronyms
295
Notes
297
References
319
List of Contributors
337
Index
343
Acknowledgments
359
KCONOMICS
You will find in this collection some of the best efforts so far to understand the financial
crisis.
—
Edmund Phelps, Columbia University
The deflation of the
subprime
mortgage bubble in
2006-7
is widely agreed to have been
the immediate cause of the collapse of the financial sector in
2008.
Consequently, one
might think that uncovering the origins of
subprime
lending would make the root causes of the
crisis obvious. That is essentially where public debate about the causes of the crisis began
—
and ended
—
in the month following the bankruptcy of Lehman Brothers and the 502-point fall
in the Dow Jones Industrial Average in mid-September
2008.
However, the subprime housing
bubble is just one piece of the puzzle. Asset bubbles inflate and burst frequently, but severe
worldwide recessions are rare. What was different this time?
In What Caused the Financial Crisis leading economists and scholars delve into the major
causes of the worst financial collapse since the Great Depression and, together, present a
comprehensive picture of the factors that led to it. One essay examines the role of government
regulation in expanding home ownership through mortgage subsidies for impoverished
borrowers, encouraging the subprime housing bubble. Another explores how banks were
able to securitize mortgages by manipulating criteria used for bond ratings. How this led to
inaccurate risk assessments that could not be covered by sufficient capital reserves mandated
under the Basel accords is made clear in a third essay. Other essays identify monetary policy
in the United States and Europe, corporate pay structures, credit-default swaps, banks
leverage, and financial deregulation as possible causes of the crisis.
With contributions from Richard A. Posner, Vernon L. Smith, Joseph E. Stiglitz, and John B.
Taylor, among other prominent scholars. What Caused the Financial Crisis provides a cogent,
comprehensive, and credible explanation of why the crisis happened. It will be an essential
resource for scholars and students of finance, economics, history, law, political science,
and
sociolog),
as well as others interested in the financial crisis and the nature of modern
capitalism and regulation.
Jeffrey Friedman is a visiting scholar in the Department of Government at the University
of Texas, Austin and Max Weber Senior Fellow at the Institute for Advancement of the Social
Sciences, Boston University. He is the editor of Critical Review.
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| spelling | What caused the financial crisis ed. by Jeffrey Friedman Philadelphia [u.a.] Univ. of Pennsylvania Press 2011 IX, 360 S. graph. Darst. 22 cm txt rdacontent n rdamedia nc rdacarrier Incl. bibliogr. references (S. [319]-335) and index. - Enth. 12 Beitr. Geschichte 2006-2009 gnd rswk-swf Geschichte 2001-2009 gnd rswk-swf Geschichte 1929-2009 gnd rswk-swf Geldpolitik (DE-588)4019902-2 gnd rswk-swf Ursache (DE-588)4062163-7 gnd rswk-swf Wirtschaftspolitik (DE-588)4066493-4 gnd rswk-swf Finanzkrise (DE-588)7635855-0 gnd rswk-swf USA (DE-588)4078704-7 gnd rswk-swf (DE-588)4143413-4 Aufsatzsammlung gnd-content USA (DE-588)4078704-7 g Geldpolitik (DE-588)4019902-2 s Finanzkrise (DE-588)7635855-0 s Geschichte 1929-2009 z DE-604 Wirtschaftspolitik (DE-588)4066493-4 s Geschichte 2001-2009 z Ursache (DE-588)4062163-7 s Geschichte 2006-2009 z Friedman, Jeffrey Sonstige oth Digitalisierung UB Bayreuth application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=022503101&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis Digitalisierung UB Bayreuth application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=022503101&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Klappentext |
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| title | What caused the financial crisis |
| title_auth | What caused the financial crisis |
| title_exact_search | What caused the financial crisis |
| title_full | What caused the financial crisis ed. by Jeffrey Friedman |
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| title_short | What caused the financial crisis |
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