Financial Crises: Understanding the Postwar U.S. Experience
This book is a survey and critique of the major theories of financial crises. The first edition built a model of crisis from an analysis of postwar financial crises in the US through the mid-1980s. The second edition continues the story from 1985 and covers the stock market crash of 1987, the collapse of the Savings and Loan industry, the severe problems of US commercial banks, and the increasing risks posed by junk bonds. A new chapter analyses the causes of increasing financial instability in the 1980s. The book's extensive charts and tables are fully revised and updated to present the latest evidence. The first edition has gained wide interest as a supplemental text.
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Cyclical Theories of Financial Crises
Comparison of Cyclical Theories
The Collapse of Speculative Lending and Investment
UNDERSTANDING THE POSTWAR EXPERIENCE
Noncyclical Theories of Financial Crises
Other editions - View all
addition annual rate assets bank credit bank failures bank loans banking system bankruptcy Board of Governors borrowing business cycle business loans capital cash chapter commercial banks commercial paper Continental Illinois corporate sector credit crunch crisis debt decline in profits deposit insurance depositors developments difficulties discount window disruption dollar Drexel Drysdale economic federal funds rate Federal Reserve Board Federal Reserve System Figure financial condition financial crises financial institutions financial markets financial system financing gap fourth quarter Friedman futures contracts growth Hunts Ibid income increased inflation interest coverage ratio interest rates internal funds investment investors junk bonds lender liabilities loan demand loan losses million Minsky monetary policy money supply mortgage nonfinancial corporations payment commitments Penn Square percent percentage plant and equipment postwar period pressure problems purchased funds recession REITs repurchase agreements S&Ls Seafirst second quarter sharply short-term silver speculation stock market crash takeover theory thrift institutions tightening tion Wall Street