Manias, Panics, and Crashes
Springer International Publishing (Verlag)
978-3-031-16007-3 (ISBN)
In the Eighth Edition of this classic text on the financial history of bubbles and crashes, Robert McCauley joins with Robert Aliber in building on Charles Kindleberger's renowned work. McCauley draws on his central banking experience to introduce new chapters on cryptocurrency and the United States as the 21st Century global lender of last resort. He also updates the book's coverage of the recent property bubble in China, as well as providing new perspectives on the US housing bubble of 2003-2006, and the Japanese bubble of the late 1980s. And he gives new attention to the social psychology that leads people to take the risk of investing in Ponzi schemes and asset price bubbles. For the first time in this revised and updated edition, figures highlight key points to ensure that today's generation of finance and economic researchers, students, practitioners and policy-makers-as well as investors looking to avoid crashes-have access to this panoramic history of financial crisis.
lt;b>Robert Z. Aliber is Professor Emeritus of International Economics and Finance at the University of Chicago Booth School of Business, USA. He was director of the Center for Studies in International Finance; on the research staff for the Committee for Economic Development and Commission on Money and Credit; and senior economic advisor for the Agency for Economic Development, U.S. Department of State. Best-selling publications include The Reconstruction of International Monetary Arrangements (ed., Macmillan, 1986), The Handbook of International Financial Management (ed. Dow Jones Irwin, 1989), and Global Portfolios (co-editor, Business One Irwin, 1991). He is a co-author of Money, Banking, and the Economy (Norton, First Edition, 1981, Fourth Edition 1990), Manias, Panics, and Crashes: A History of Financial Crises (Palgrave MacMillan, 5th ed. 2005, 6th ed. 2011), and author of The International Money Game (Palgrave MacMillan, 2001).
Aliber has consulted to the Board of Governors of the Federal Reserve System and to other U.S. government agencies, the World Bank and the International Monetary Fund, testified before committees of the Congress, and lectured extensively in the United States and abroad.
Robert McCauley has held a 36 year career at the Federal Reserve Bank of New York and the Bank for International Settlements (BIS), most recently advising the Head of the BIS' Monetary and Economic Department, and with a specialty in the Asia markets.. He is a broad gauged economist whose experience lies in the global financial system; international macroeconomics and exchange rates; international banking and securities markets; official reserve management (especially currency and instrument allocation); comparative monetary policy and operations; emerging market finances and comparative corporate finance.
The late Charles P. Kindleberger was the Ford Professor of Economics at MIT for 33 years and author of over 30 books. He was best known as a financial historian, whom the Economist referred to as 'the master of the genre' on financial crisis. He advanced the study of international finance and helped to devise the Marshall Plan, approved by Congress, for Europe's reconstruction after World War II. During his tenure at MIT, Kindleberger was a consultant to the federal government several times, most often for the Treasury and the Federal Reserve. In 1985, he was president of the American Economic Association.
1: Financial Crises: a Hardy Perennial.- 2: The Anatomy of a Typical Crisis.-3: Speculative Manias.- 4: Fueling the Flames: the Expansion of Credit.- 5: The Critical Stage - When the Bubble Is About To Pop.- 6: Bernie Madoff: Frauds, Swindles, and the Credit Cycle.- 7: Domestic Contagion: Twin Peaks?.- 8: International Contagion 1618-1933.- 9: Bubble Contagion: Mexico City to Tokyo to Bangkok to New York, London, and Reykjavik.- 10: Policy Responses: Benign Neglect, Exhortation, and Bank Holidays.- 11: The Domestic Lender of Last Resort.- 12: The International Lender of Last Resort before 2000.-13: The 21st Century International Lender of Last Resort.- 14: Bitcoin: Worse than a Ponzi.- 15 The Lessons of History.
Erscheinungsdatum | 08.03.2023 |
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Zusatzinfo | XIX, 425 p. 11 illus., 9 illus. in color. |
Verlagsort | Cham |
Sprache | englisch |
Maße | 155 x 235 mm |
Gewicht | 676 g |
Themenwelt | Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie |
Schlagworte | Asset-price bubbles • Capital Markets • Credit fueled price bubbles • cryptocurrencies • Economic History • Exchange-rate volatility • Financial Bubbles • financial crashes • Financial Crises • Financial History • Financial Markets • Global financial crisis • Housing based credit bubbles • International Economy • International financial systems • Japanese bubble of late 1980s • Lender of last resort • Liquid Capital • Minksy moment • National banking systems |
ISBN-10 | 3-031-16007-X / 303116007X |
ISBN-13 | 978-3-031-16007-3 / 9783031160073 |
Zustand | Neuware |
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