| Description |
xlv, 463 pages : illustrations ; 23 cm |
| Note |
Originally published: 2009. |
| Bibliography |
Includes bibliographical references and index. |
| Summary |
Throughout history, rich and poor countries alike have been lending, borrowing, crashing--and recovering--their way through an extraordinary range of financial crises. Each time, the experts have chimed, "this time is different"--claiming that the old rules of valuation no longer apply and that the new situation bears little similarity to past disasters. With this breakthrough study, leading economists Carmen Reinhart and Kenneth Rogoff definitively prove them wrong. Covering sixty-six countries across five continents, This Time Is Different presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikes--from medieval currency debasements to today's subprime catastrophe. |
| Contents |
Varieties of crises and their dates -- Debt intolerance : the genesis of serial default -- A global database on financial crises with a long-term view -- A digression on the theoretical underpinnings of debt crises -- Cycles of sovereign default on external debt -- External default through history -- The stylized facts of domestic debt and default -- Domestic debt : the missing link explaining external default and high inflation -- Domestic debt and external default : which is worse? who is senior? -- Banking crises -- Default through debasement : an "old world" favorite -- Inflation and modern currency crashes -- The U.S. subprime crisis : an international and historical comparison -- The aftermath of financial crises -- The international dimensions of the subprime crisis : the results of contagion or common fundamentals? -- Composite measures of financial turmoil -- Reflections on early warnings, gradation, policy responses, and the foibles of human nature. |
| Subject |
Financial crises -- Case studies.
|
|
Fiscal policy -- Case studies.
|
|
Business cycles -- Case studies.
|
| Genre/Form |
Case studies. (OCoLC)fst01423765
|
| Subject |
Business cycles. (OCoLC)fst00842457
|
|
Financial crises. (OCoLC)fst00924607
|
|
Fiscal policy. (OCoLC)fst00925806
|
| Added Author |
Rogoff, Kenneth S.
|
| ISBN |
9780691152646 (paperback) |
|
0691152640 (paperback) |
|
