The Second Great Contraction: From "This Time Is Different" (Google eBook)

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Princeton University Press, Jul 18, 2011 - Business & Economics - 82 pages
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We've been assured that the recession is over, but the country and the economy continue to feel the effects of the 2008 financial crisis, and people are still searching for answers about what caused it, what it has wrought, and how we can recover. This selection from the best-selling book This Time Is Different--the definitive history of financial crises, including the recent subprime meltdown--answers these questions and more.

Princeton Shorts are brief selections excerpted from influential Princeton University Press publications produced exclusively in eBook format. They are selected with the firm belief that while the original work remains an important and enduring product, sometimes we can all benefit from a quick take on a topic worthy of a longer book.

In a world where every second counts, how better to stay up-to speed on current events and digest the kernels of wisdom found in the great works of the past? Princeton Shorts enables you to be an instant expert in a world where information is everywhere but quality is at a premium. The Second Great Contraction does just that.

  

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Contents

Authors Note
198
The US Subprime Meltdown and the Second Great Contraction
199
An International and Historical Comparison
202
14 The Aftermath of Financial Crises
223
The Results of Contagion or Common Fundamentals?
240
16 Composite Measures of Financial Turmoil
248
Notes
403
About the Authors
408
Copyright

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About the author (2011)

Carmen M. Reinhart is the Dennis Weatherstone Senior Fellow at the Peterson Institute for International Economics. She was previously professor of economics at the University of Maryland. Kenneth S. Rogoff is the Thomas D. Cabot Professor of Public Policy and professor of economics at Harvard University. He is a frequent commentator for NPR, the "Wall Street Journal", and the "Financial Times".

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