Booms and busts in United States financial markets

• Autorzy: Yochanan Shachmurove
• Języki publikacji: EN

Abstrakty

EN

Financial crises, booms and busts are an inherent part of the capitalist system. The current financial crisis that began in 2007 has reignited the debate about the causes and consequences of previous economic downturns. While some look at the differences among crises, both historical and as related to the specific mechanics of the shock triggering a crisis, others emphasize their similarities across countries and historical episodes. This paper presents an overview of the history of financial crises, primarily in the United States. The conclusion is that these crises are similar and are likely to reoccur. (original abstract)

Słowa kluczowe

EN

Financial crisis; Bankruptcy; Bank reserves; Mortgage credit; Subprime loan

PL

Kryzys finansowy; Bankructwo; Rezerwy bankowe; Kredyt hipoteczny; Kredyt subprime

• Czasopismo: Department of Applied Econometrics Working Papers
• Rocznik: 2011
• Numer: nr 3
• Strony: 27

Twórcy

autor

Yochanan Shachmurove

• The City College of New York, USA

Bibliografia

• Ahamed, Liaquat (2009). Lords of Finance. New York. Penguin Press.
• Bernanke, Ben S., Gertler, Mark, and Gilchrist, Simon. (1999). "The Financial Accelerator in a Quantitative Business Cycle Framework," in Handbook of Macroeconomics, Vol. 1A, eds. John Taylor and Michael Woodford, Amsterdam: North Holland.
• Bernanke, Ben and James, Harold. (1990). The Gold Standard, Deflation and Financial Crisis in the Great Depression: An International Comparison. Cambridge, Massachusetts: National Bureau of Economic Research.Working Paper