Financial crisis : the United States in the early twenty-first century / Jill M. Hendrickson, Associate Professor of Economics, University of St Thomas, USA
List of figures and tables -- Theories of financial crisis -- Caught off guard by another crisis -- Theories of financial crises -- Assessment of theories -- Financial crisis in the U.S. in the twenty-first century -- Prologue to the crisis : 2000-2006 -- The crisis unfolds -- Evaluating theories against the evidence -- Using theory to analyze the crisis -- Theoretically on guard for crises -- How is this crisis unique? -- Post crisis -- Conclusions
Summary
The 2007-2009 financial crisis caught many by surprise. When the dust began to settle, people began looking around and asking how this could have happened and why we did not see it coming. Criticism fell heavily on the economics profession because there was a feeling that the models and theories of economics had failed to properly warn and prepare us for a significant crisis. This book carefully analyses existing theories of financial crisis to determine if they are still appropriate for understanding modern financial crises. This is an important endeavour because financial crisis theory has largely been ignored for many years. Indeed, it has been almost twenty years since economists have seriously reconsidered financial crisis theory. This book fills that gap and offers insight into the current debate regarding the efficacy of economic models and theories relevant to understanding financial distress
Bibliography
Includes bibliographical references (pages 225-232) and index
