1: Financial Crises: a Hardy Perennial -- 2: The Anatomy of a Typical Crisis.-3: Speculative Manias -- 4: Fueling the Flames: the Expansion of Credit -- 5: The Critical Stage – When the Bubble Is About To Pop -- 6: Bernie Madoff: Frauds, Swindles, and the Credit Cycle -- 7: Domestic Contagion:...

Historical events are reflected in asset prices. In this paper, we analyse government bond prices of Germany and Austria traded on the Swiss bourse during WWII. Some war events that are generally considered crucial are clearly reflected in government bond prices. This holds, in particular, for...

Chapter 1 Introduction -- Chapter 2 The Speculator, and Financial Innovations: an Old Portrait -- Chapter 3 The Speculator, and Financial Innovations: a New Portrait -- Chapter 4 Uncertainty: the Necessary Unknowable Road to Speculation -- Chapter 5 Economic Bubbles, Schemes, and Market Failures...

This paper explores the hypothesis that the sources of economic and financial crises differ from noncrisis business cycle fluctuations. We employ Markov-switching Bayesian vector autoregressions (MS-BVARs) to gather evidence about the hypothesis on a long annual U.S. sample running from 1890 to...

This paper explores the hypothesis that the sources of economic and financial crises differ from noncrisis business cycle fluctuations. We employ Markov-switching Bayesian vector autoregressions (MS-BVARs) to gather evidence about the hypothesis on a long annual U.S. sample running from 1890 to...

Chapter I: Introduction -- Chapter II - The Manila Trade -- Chapter III - The Capital Markets of the Manila Trade -- Chapter IV - The Business Model of the one-Galleon System -- Chapter V – An Alternative model of Trade Finance -- Chapter VI – The Political Economy of the Manila trade --...