A Crash Course on Crises Macroeconomic Concepts for Run-Ups, Collapses, and Recoveries |
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| Author:
| Brunnermeier, Markus K.
Reis, Ricardo |
| ISBN: | 978-0-691-22110-6 |
| Publication Date: | Oct 2023 |
| Publisher: | Princeton University Press
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| Book Format: | Hardback |
| List Price: | AUD $62.99 |
Book Description:
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An incisive overview of the macroeconomics of financial crises--essential reading for students and policy experts alike With alarming frequency, modern economies go through macro-financial crashes that arise from the financial sector and spread to the broader economy, inflicting deep and prolonged recessions. A Crash Course on Crises brings together the latest cutting-edge economic research to identify the seeds of these crashes, reveal their triggers and...
More Description
An incisive overview of the macroeconomics of financial crises--essential reading for students and policy experts alike
With alarming frequency, modern economies go through macro-financial crashes that arise from the financial sector and spread to the broader economy, inflicting deep and prolonged recessions. A Crash Course on Crises brings together the latest cutting-edge economic research to identify the seeds of these crashes, reveal their triggers and consequences, and explain what policymakers can do about them.
Each of the book's ten self-contained chapters introduces readers to a key economic force and provides case studies that illustrate how that force was dominant. Markus Brunnermeier and Ricardo Reis show how the run-up phase of a crisis often occurs in ways that are preventable but that may go unnoticed and discuss how debt contracts, banks, and a search for safety can act as triggers and amplifiers that drive the economy to crash. Brunnermeier and Reis then explain how monetary, fiscal, and exchange-rate policies can respond to crises and prevent them from becoming persistent.
With case studies ranging from Chile in the 1970s to the COVID-19 pandemic, A Crash Course on Crises synthesizes a vast literature into ten simple, accessible ideas and illuminates these concepts using novel diagrams and a clear analytical framework.