Financial Crises: Understanding the Postwar U.S. Experience

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M.E. Sharpe, 1986 - Business & Economics - 228 pages
This book is a path-breaking survey and critique of the major theories of financial crises. It builds a model of crisis from an analysis of postwar financial crises in the United States through the mid-1980's. It has gained interest as a supplemental text.
 

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Contents

Introduction
Theories of Financial Crises
1
Theories of Financial Crises
3
Comparison of Theories of Financial Crises
24
Financial Crises in the Postwar US Economy
31
The Credit Crunch of 1966
33
197O Penn Central
42
1974 Franklin National
51
The Legacy of 1982
96
Understanding the Postwar Experience
113
A BusinessCycle Model of Financial Crises
115
Figure 1114
140
Evaluating the Theories of Financial Crises
160
Changes in Financial Crises The Role of LongTerm Trends and Institutional Change
178
Notes
191
Selected Bibliography
204

The Silver Crisis of 198O
62
The 1982 Crisis
79
Index
209
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Page 1 - ... amount; and in times of ordinary prosperity, therefore, it is commonly advantageous to employ credit in the way indicated. Still more so in brisk times, when opportunities for earnings are many and promise to increase. To turn the proposition about, so as to show the run of business motives in the case: whenever the capable business manager sees an appreciable difference between the cost of a given credit extension and the gross increase of gains to be got by its use, he will seek to extend his...

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