Financial crisis
Subtitle: the United States in the early twenty-first century
By: Jill M. Hendrickson, Associate Professor of Economics, University of St. Thomas, USA
Series: Palgrave Macmillan studies in banking and financial institutions
Publisher: Palgrave Macmillan
Published: 2013
Place of publication: Houndmills, Basingstoke, Hampshire [England]; New York
Language: eng
Number of pages: 238
ISBN-13: 9780230368811
Subjects: Global Financial Crisis, 2008-2009; Financial crises; Fiscal policy; Monetary policy; Economic conditions
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.
Notes: Includes bibliographical references (pages 225-232) and index.