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Financial crises are historically associated with the “4 deadly D’s”: Sharp economic downturns follow banking crises; with government revenues dragged down, fiscal deficits worsen; deficits lead to debt; as debt piles up rating downgrades follow. For the most fortunate countries, the...
Persistent link: https://www.econbiz.de/10005260146
Cultural and epistemic backgrounds, subject-object relationships, assumptions and conflicts, are examined by heuristic-hermeneutic processes in the sociocultural learning niches. Diagnosis and prognosis of current problems take into account the connections (assets) and ruptures (deficits)...
Persistent link: https://www.econbiz.de/10008490467
Diagnosis and prognosis of current problems take into account the connections (assets) and ruptures (deficits) between the different dimensions of being-in-the-world, mutually entangled as donors and recipients: intimate; interactive; social and biophysical. Guidance and counselling consider the...
Persistent link: https://www.econbiz.de/10008490508
The global scope and depth of the 2007-2009 crisis is unprecedented in the post World War II period. As such, the most relevant comparison benchmark is the Great Depression, or the Great Contraction as dubbed by Friedman and Schwartz (1963). We highlight some of the similarities between these...
Persistent link: https://www.econbiz.de/10008529251
We focus on four previous systemic financial crises that the United States has experienced since 1870. These include the crisis of 1873 (called the Great Depression until the 1930s), the 1893 crisis, the panic of 1907, and the Great Depression. Given that all of the earlier crises predate the...
Persistent link: https://www.econbiz.de/10011110861
In our recent paper, (Reinhart and Reinhart, 2010) we examine the behavior of real GDP (levels and growth rates), unemployment, inflation, bank credit, and real estate prices in a twenty one-year window surrounding selected adverse global and country-specific shocks or events. In this note, we...
Persistent link: https://www.econbiz.de/10008642684