Temporary Economic Crises
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Temporary Economic Crises
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Author : Shahzavar Karimzadi
language : en
Publisher: Taylor & Francis
Release Date : 2022-12-30
Temporary Economic Crises written by Shahzavar Karimzadi and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-12-30 with Business & Economics categories.
In traditional theory of economic crisis, and in all its manifestations, there is no fundamental difference between economic disorder and economic crisis: the two types of economic turmoil are both considered temporary states. This book is a methodical study of deep-seated causes of economic crises. The aim of the book is to explain the key difference between economic disorder and economic crisis. Its key argument is that economic disorder is a permanent condition, whereas economic crises are a series of transitory periods. Economic crises, unlike economic disorders, are acute and frenzied volatilities that are unpredictable and short-lived. Humans cannot survive in a condition of perpetual economic crises but can only accommodate life under unremitting economic disorders. The book also explores the root cause of economic crisis. Unlike the received wisdom in economics, this book looks at the root cause of such hysterical economic turbulences as a result of an innate propensity of human fallibility. The final section of this book looks at the ramifications of this alternative perspective on macroeconomic policy formation and implementation. This book is a major contribution to the literature on economic disorder and crises and will be of great interest to readers of economic theory, philosophy of economics, and the history of economic thought.
Financial Crises Explanations Types And Implications
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Author : Mr.Stijn Claessens
language : en
Publisher: International Monetary Fund
Release Date : 2013-01-30
Financial Crises Explanations Types And Implications written by Mr.Stijn Claessens and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-30 with Business & Economics categories.
This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
The Labor Market Effects Of Financial Crises
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Author : Siddharth Sharma
language : en
Publisher:
Release Date : 2017
The Labor Market Effects Of Financial Crises written by Siddharth Sharma and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Global Financial Crisis, 2008-2009 categories.
This paper examines how the 2008-09 financial crisis affected labor markets in Central and Western Europe, and how this impact depended on employment protections laws. Using a differences-in-differences approach that compares industries with varying degrees of inherent dependence on external financing, the analysis finds that the crisis had significant negative impacts on employment, particularly on temporary, less skilled, and younger workers. These impacts on the level and composition of employment were significantly stronger in countries with stronger legal protection of permanent workers from dismissal. This finding suggests that, given regulatory inflexibility in adjusting the permanent workforce, firms responded to tightening financial constraints by disproportionately laying off temporary workers (who tend to be younger and less skilled than permanent workers).
Booms Crises And Recoveries A New Paradigm Of The Business Cycle And Its Policy Implications
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Author : Ms.Valerie Cerra
language : en
Publisher: International Monetary Fund
Release Date : 2017-11-16
Booms Crises And Recoveries A New Paradigm Of The Business Cycle And Its Policy Implications written by Ms.Valerie Cerra and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-16 with Business & Economics categories.
All types of recessions, on average, not just those associated with financial and political crises (as in Cerra and Saxena, AER 2008), lead to permanent output losses. These findings have far-reaching conceptual and policy implications. A new paradigm of the business cycle needs to account for shifts in trend output and the puzzling inconsistency of output dynamics with other cyclical components of production. The ‘output gap’ can be ill-conceived, poorly measured, and inconsistent over time. Persistent losses require more buffers and crisis-avoidance policies, affecting tradeoffs in prudential, macroeconomic, and reserve management policies. The frequency and depth of crises are key determinants of long-term growth and drive a new stylized model of economic development.
The Financial Crisis
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Author : P. Arestis
language : en
Publisher: Springer
Release Date : 2010-11-24
The Financial Crisis written by P. Arestis and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11-24 with Business & Economics categories.
The 2008 financial crisis poses three fundamental questions for economists and policy makers; understanding the origins of the crisis, understanding the consequences of this crisis for the world economy, and finally understanding why the 2008 financial crisis is not as serious as the 1929 crisis. The prevailing view is that the 2008 financial crisis was solely the result of inadequate financial regulation together with a very loose monetary policy conducted by central banks, especially the Fed. It is believed that this crisis is a temporary detour in the normal course of the events, so that in the near future capitalist economies will resume the high growth path observed before the crisis. In terms of the third question, there is a widespread view that the fundamental reason that explains the avoidance of the harmful experiences of 1929 was the fiscal and monetary policy expansions in developed countries. No important role is assigned to developing countries in terms of the effects of the financial crisis. This book challenges the prevailing orthodoxy surrounding the origins and the consequences of the 2008 financial crisis. The book demonstrates that measures in addition to a profound change in the financial regulation are required if a new financial crisis is to be avoided in the future, measures include: a change in the conduct of economic policy; a reform of the national and international monetary systems; and a radical change in the pattern of income distribution. This book is essential reading for all interested in macroeconomics, monetary policy, development economics and the global impact of the financial crisis.
Economic Crisis And Policy Choice
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Author : Joan M. Nelson
language : en
Publisher: Princeton University Press
Release Date : 2021-04-13
Economic Crisis And Policy Choice written by Joan M. Nelson and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-04-13 with Political Science categories.
The acute economic pressures of the 1980s have forced virtually all of Latin America and Africa and some countries in Asia into painful austerity programs and difficult economic reforms. Scholars have intensively analyzed the economics of this situation, but they have given much less attention to the political forces involved. In this volume a number of eminent contributors analyze the politics of adjustment in thirteen countries and nineteen governments, drawing comparisons not only across the full set of cases but also within clusters selected to clarify specific issues. Why do some governments respond promptly to signs of economic trouble, while others muddle indecisively for years? Why do some confine their response to temporary macroeconomic measures, while others adopt broader, even sweeping, programs of reform? What leads some countries to experiment with heterodox approaches, while most, however reluctantly, pursue orthodox courses? Why, confronted with intense political protest, have some governments persisted while others have altered or abandoned course? The answers to these questions are political, not economic, and they are examined here by Thomas M. Callaghy, Stephan Haggard, Miles Kahler, Robert R. Kauman, Joan M. Nelson, and Barbara Stallings.
The Risk Of Economic Crisis
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Author : Martin Feldstein
language : en
Publisher: University of Chicago Press
Release Date : 2009-02-15
The Risk Of Economic Crisis written by Martin Feldstein and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-02-15 with Business & Economics categories.
The stunning collapse of the thrift industry, the major stock slump of 1987, rising corporate debt, wild fluctuations of currency exchange rates, and a rash of defaults on developing country debts have revived fading memories of the Great Depression and fueled fears of an impending economic crisis. Under what conditions are financial markets vulnerable to disruption and what economic consequences ensue when these markets break down? In this accessible and thought-provoking volume, Benjamin M. Friedman investigates the origins of financial crisis in domestic capital markets, Paul Krugman examines the international origins and transmission of financial and economic crises, and Lawrence H. Summers explores the transition from financial crisis to economic collapse. In the introductory essay, Martin Feldstein reviews the major financial problems of the 1980s and discusses lessons to be learned from this experience. The book also contains provocative observations by senior academics and others who have played leading roles in business and government.
Economic Crises A Review And Directions For Research
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Author : Tulus T. H. Tambunan
language : en
Publisher:
Release Date : 2022-02-28
Economic Crises A Review And Directions For Research written by Tulus T. H. Tambunan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-02-28 with categories.
In the 1920s, the United States experienced an economic crisis. The public called it the Great Depression. This dark history lasted for 10 years, starting from 1929 to 1939. The Great Depression was a severe blow to the United States economy considering that during the 1920s their economy grew so rapidly. The country's wealth more than doubled, so this period was called "The Roaring Twenties". The fast-growing economy fueled massive speculation in the stock market. The stock index skyrocketed to its peak in August 1929. The Great Depression was not the last crisis to hit the world. Since the end of the second world war until 2022, the world has experienced a number of crises both global in nature such as the oil crisis in the mid-1970s, the global financial crisis in 2008-2009, and most recently the crisis due to the Covid-19 pandemic, as well as regional ones that also caused disruptions to the economies of many countries outside the region, such as the 2010 Euro debt crisis and the 1997-1998 Asian financial crisis. In the 2008/2009 global financial crisis, the United States faced severe economic turmoil. Stock values plummeted, loans were bad, companies went bankrupt, and people were unable to meet savings goals or plan for the future. People panicked and feared that their country would fall apart. As a result of expectations or speculations that were too far apart, that year witnessed how a superpower region like the United States was able to sink into the depths of crisis. Many people equate the global economic crisis of 2020 to mid-2021 due to the Covid-19 pandemic with the Great Depression of the 1930s. Even the International Monetary Fund (IMF) has stated that the world will face the worst crisis due to the pandemic (COVID-19). It is said that this crisis will be more severe than the Great Depression. In the World Economic Outlook report released by the IMF in October 2021, it said that the closure of most business activities by governments in many countries to stop the transmission of the pandemic resulted in a decrease in global economic activity. This makes this one of the reasons for the global crisis. Although there have been many articles in journals and books about these crises, there are still several questions, including the main source of an economic crisis and how the crisis negatively affected a country's economy. This book, entitled Economic Crises: A Review and Directions for Research, tries to answer this question both theoretically and empirically. It is hoped that the discussion in this book can provide new research topics regarding an economic crisis and the direction of future research. What is clear is that the world's experience with the economic crisis that occurred in 2020 due to a virus that devastated the world economy requires more research on this new type of economic crisis from various perspectives.
The Currency Problem And The Present Financial Situation
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Author : Edwin Robert Anderson Seligman
language : en
Publisher: Forgotten Books
Release Date : 2015-06-15
The Currency Problem And The Present Financial Situation written by Edwin Robert Anderson Seligman and has been published by Forgotten Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-15 with Business & Economics categories.
Excerpt from The Currency Problem and the Present Financial Situation: A Series of Addresses Delivered at Columbia University, 1907-1908 The Crisis of 1907 in the Light of History The occasion of the addresses collected in this volume was a desire to contribute to the understanding of the crisis of 1907, and to lay down some principles which might be of service in the reconstruction of our currency system. The first question, however, that will obviously present itself, is as to whether the crisis of 1907 was primarily a financial or an industrial crisis; and it may be well, before taking up the specific problems raised by the addresses, to consider this question a little more closely. From one point of view, indeed, every economic crisis is a financial crisis. For since values are expressed in terms of money, and since the modern business superstructure is erected on the basis of credit, every economic revulsion expresses itself through the medium of a change in prices; and since the bank is the center of credit operations, every crisis inevitably involves a revolution in the conditions of credit. From this point of view, all crises may be declared to be financial crises. From another standpoint, however, a distinction may be drawn between financial crises proper and commercial or industrial crises in the larger sense. There may be a financial panic or crisis due primarily to temporary and sudden oscillations in the condition of the money market or in the price of securities. Such oscillations, sharp and sudden though they be, may have but little relation, whether of effect or of cause, to the general commercial and industrial interests. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Economic Crises
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Author : Edward David Jones
language : en
Publisher: New York : The Macmillan Company ; London : Macmillan and Company, Limited
Release Date : 1900
Economic Crises written by Edward David Jones and has been published by New York : The Macmillan Company ; London : Macmillan and Company, Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 1900 with Business cycles categories.