This seventh edition of an investment classic has been thoroughly revised and expanded following the latest crises to hit international markets. Renowned economist Robert Z. Aliber introduces the concept that global financial crises in recent years are not independent events, but symptomatic of...

The Nature of Manias, Bubbles and Crashes: Introduction -- Value Trading vs. Momentum Trading -- The Rise of Manias and Bubbles -- Stages in the Boom-Bubble-Bust Sequence -- Fueling the Boom - Role of the Media -- Bubbles, Wealth and Inflation -- Speculations, Bootstraps and Swindles -- The...

Manias, Panics and Crashes was first published in 1978, and dealt with financial crises that were, for the most part, before World War II. Black Monday of October 1987, along with more research especially on the years from 1880 to 1893 indicated a need for a second look. The third edition had...

Why do banks collapse? Are financial systems more fragile in recent decades? Can policies to fix the banking system do more harm than good? What's the history of banking crises? With dozens of brief, non-technical articles by economists and other researchers, Banking Crises offers answers from...

Aronoff challenges the conventional view that reckless credit produced the US housing boom and the financial crisis, explaining how the large current account deficit, and its mercantilist origin, was a more fundamental cause

This volume investigates different aspects of monetary policy and prevention of financial crises. It discusses some recently suggested measures for central banks' responses to liquidity shortages and to the liquidity trap, methods for assessing the potential of crisis contagion via the interbank...

This book reviews the key policy debates during the post-crash era, describing the issues that policymakers grappled with, the decisions that they took and the details of the policy instruments that were created. Focusing specifically on issues in monetary and fiscal policy, chapters demonstrate...

Part I- The Crisis: Micro-Macro Perspective -- Chapter1- Pathology of the Crisis -- Chapter 2- Sub-Prime Debt Imbroglio : Risks-Rewards of Financial Sophistication -- Chapter 3- Policy Response -- Chapter 4- Why Is the Economy Not Taking Off? -- Chapter 5- Euro-Sclerosis: Causation and Control...

Fabian Schnell develops a model indicating that by keeping real interest rates too low, monetary policy can distort the allocation of resources across firms and potentially delay economic recovery after a recession. This is a new channel of monetary policy that is especially relevant in view of...