Understanding Global Crises: An Emerging Paradigm - Couverture rigide

Razin, Assaf

Couverture rigide

ISBN 10 : 026202859X ISBN 13 : 9780262028592

Editeur : The MIT Press, 2014

Synopsis

A historical and theoretical investigation of the “common storylines” of recent financial crises.

Financial crises have some common storylines, among them bursting asset bubbles, bank failures, sharp tightening of credit, and downturn in trade. They are also different from one another. Some start with sudden reversal of international capital flows, others with domestic credit implosions. A challenge to economic research is to integrate common as well as disparate threads into a coherent analytical framework that is at the same time empirically testable. In Understanding Global Crises, Assaf Razin offers a review of an emerging paradigm that is consistent with the key features of recent global financial crises. This paradigm presents in a transparent way basic analytical elements of the theories of financial and monetary crises and how these elements fit together in macroeconomic analysis of global crises.

Razin surveys the credit implosion that led to a severe banking crisis in Japan in the 1990s, the Asian financial crisis that began in 1997, the global meltdown of 2008, and the Euro-zone crisis. He reviews the analytics of financial fragilities, credit frictions, currency crises, and balance of payments crises, and addresses international capital flows with information frictions. He then presents key developments in the New Keynesian analytical framework by examining the surge of re-modeling efforts aimed at the development of an analytical framework to underpin monetary and fiscal policy in the post-2008 economic era.

A propos du livre

À propos de l?auteur

Assaf Razin is a former Professor at Cornell University, Emeritus Professor at the Eitan Berglas School of Economics at Tel Aviv University, and Research Fellow at the NBER, CEPR, and CESifo. He is the author of Understanding Global Crises: An Emerging Paradigm and a coauthor of, among other books, The Decline of the Welfare State: Demography and Globalization and Migration and the Welfare State: Political-Economy Policy Formation, all published by the MIT Press. He is the recipient of the 2017 EMET Prize in Economics.

Détails de l'édition

• Éditeur: The MIT Press
• Date d'édition: 2014
• Langue: anglais
• ISBN 10: 026202859X
• ISBN 13: 9780262028592
• Reliure: Relié
• Numéro d'édition: 1
• Nombre de pages: 256
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible