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Financial Crisis
 
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Financial Crisis
The United States in the Early Twenty-First Century
 
 
Palgrave Macmillan
 
 
 
 
 
05 Feb 2013
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£65.00
|Hardback In Stock
  
9780230368811
||
 
 
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DescriptionContentsAuthors

The 2007-2009 financial crisis caught many by surprise. When the dust began to settle, people began looking around and asking how this could have happened and why we did not see it coming. Criticism fell heavily on the economics profession because there was a feeling that the models and theories of economics had failed to properly warn and prepare us for a significant crisis. This book carefully analyses existing theories of financial crisis to determine if they are still appropriate for understanding modern financial crises. This is an important endeavour because financial crisis theory has largely been ignored for many years. Indeed, it has been almost twenty years since economists have seriously reconsidered financial crisis theory. This book fills that gap and offers insight into the current debate regarding the efficacy of economic models and theories relevant to understanding financial distress.


Description

The 2007-2009 financial crisis caught many by surprise. When the dust began to settle, people began looking around and asking how this could have happened and why we did not see it coming. Criticism fell heavily on the economics profession because there was a feeling that the models and theories of economics had failed to properly warn and prepare us for a significant crisis. This book carefully analyses existing theories of financial crisis to determine if they are still appropriate for understanding modern financial crises. This is an important endeavour because financial crisis theory has largely been ignored for many years. Indeed, it has been almost twenty years since economists have seriously reconsidered financial crisis theory. This book fills that gap and offers insight into the current debate regarding the efficacy of economic models and theories relevant to understanding financial distress.


Contents

PART I: THEORIES OF FINANCIAL CRISES
1. Caught Off Guard by Another Crisis
2. Theories of Financial Crises
3. Assessment of Theories
PART II: FINANCIAL CRISIS IN THE US IN THE TWENTY-FIRST CENTURY
4. Prologue to the Crisis: 2000-2006
5. The Crisis Unfolds
PART III: EVALUATING THEORIES AGAINST THE EVIDENCE
6. Using Theory to Analyze the Crisis
7. Theoretically On Guard For Crises


Authors

Jill M. Hendrickson is an Associate Professor of Economics at the University of St. Thomas, USA. Previously, she held the Frank Wilson Endowed Chair of Political Economy at the University of the South, USA. Her scholarship on bank regulation, financial crises, and bank performance has been published in many journals and she is also the author of Regulation and instability in U.S. Commercial Banking: A History of Crises, which forms part of the Palgrave Macmillan Studies in Banking and Financial Institutions series.