The Financial Crisis and Federal Reserve Policy

Authors: Thomas, L.

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About this book

The Financial Crisis and Federal Reserve Policy is fully revised and updated with the most accurate and thorough coverage available of the causes and consequences of the 2008 Financial Crisis and the role the Federal Reserve played in the recovery efforts.

Reviews

"Explores crucial questions surrounding the Great Crisis of 2007-09, its relationship to other financial crises, and the role of the Federal Reserve in the crisis and recovery." - Journal of Economic Literature

'I've read many books on the Financial Crisis. Lloyd Thomas's book, quite simply, is the best. It doesn't simply describe what happened. It explains what happened. And it explains what needs to be done to prevent it from happening again.' - Laurence Seidman, Chaplin Tyler Professor of Economics, University of Delaware, USA

'Thomas provides a comprehensive and dispassionate analysis of the Great Crisis of 2007-2009. Exceptionally well written and researched, the author provides insights into the most severe economic challenge in the U.S. and much of the rest of the world in 75 years. The book has much to offer to professional economists, financial experts, and policy makers, as well as the general citizens who were affected by the severe downturn, housing market collapse, and financial system's near meltdown. The prominent and effective role of the Federal Reserve is the unappreciated story in the Great Crisis and is in sharp contrast to the Fed's performance in the Great Depression of the 1930's. This book is destined to be one of the most thoughtful, independent, and insightful analyses of the Great Crisis. ' - Bruce Jaffee, Professor of Business Economics and Public Policy and Executive Director, Institute for International Business, Indiana University, USA

"Timely, informative, insightful, beautifully written, and readable both by informed professionals and economists. Tightly organized and very interesting treatment of the Federal Reserve's role in the current economic crisis with comparative historical background on the Fed's behavior during the Great Depression. A wonderful book." - Michael J. Greenwood, Professor of Economics, University of Colorado at Boulder, USA

"Thomas has an amazing grasp of the history of the Great Recession, and a complete understanding of the key institutions involved. The Financial Crisis and Federal Reserve Policy weaves that understanding into a thorough analysis of both the origins of the crisis and the policy response. Written with exceptional clarity, this book is easily accessible to anyone who wants a better understanding of the crisis, but the theory and evidence are so complete that it will be a valuable reference for economists as well. Thomas has the historian's eye for detail and the economist's gift of analysis. He fits the pieces of this amazing event together - the data, the history, the chronology, and most important, the explanation - with great skill and great clarity." - Alan Grant, Professor of Economics, Baker University, USA

About the Second Edition

"These new chapters make a tremendous addition to the book. To many, the real stories of the Great Recession were the protracted recovery and the unconventional and unprecedented policy response by the Federal Reserve. These chapters cover that material thoroughly, and present compelling evidence that Fed Chairman Ben Bernanke managed the crisis with great skill." - Alan Grant, Professor of Economics, Baker University, USA

"The second edition of Thomas' book is a substantial improvement on an outstanding first edition. This first-rate text provides a compendious discussion of the financial crisis and Federal Reserve policy in a way that is truly scintillating. Especially outstanding in the second edition is his careful analysis of the slow recovery following the Great Recession in Chapter Seven, the European sovereign debt crisis in Chapter Eight, and the unconventional monetary policy response to the recession in Chapter Twelve. It is to Thomas' credit that he has written a text, which by virtue of its depth and clarity will set the standard for the discussion of the financial crisis." - Bebonchu Atems, Assistant Professor of Economics, School of Business, Clarkson University, USA


Table of contents (14 chapters)

  • Financial Crises: An Overview

    Thomas, Lloyd B.

    Pages 1-10

  • The Nature of Banking Crises

    Thomas, Lloyd B.

    Pages 11-24

  • The Panic of 1907 and the Savings and Loan Crisis

    Thomas, Lloyd B.

    Pages 25-39

  • Development of the Housing and Credit Bubbles

    Thomas, Lloyd B.

    Pages 41-58

  • Bursting of the Twin Bubbles

    Thomas, Lloyd B.

    Pages 59-78

Buy this book

eBook $34.99
price for USA
  • The eBook version of this title will be available soon
  • ISBN 978-1-137-40122-9
  • Digitally watermarked, no DRM
  • Included format:
  • eBooks can be used on all reading devices
  • Download immediately after purchase
Hardcover $120.00
price for USA
  • ISBN 978-1-137-37078-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $44.00
price for USA
  • ISBN 978-1-137-37077-8
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.

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Bibliographic Information

Bibliographic Information
Book Title
The Financial Crisis and Federal Reserve Policy
Authors
Copyright
2013
Publisher
Palgrave Macmillan US
Copyright Holder
Palgrave Macmillan, a division of Nature America Inc.
eBook ISBN
978-1-137-40122-9
DOI
10.1057/9781137401229
Hardcover ISBN
978-1-137-37078-5
Softcover ISBN
978-1-137-37077-8
Edition Number
2
Number of Pages
XX, 269
Topics