The Financial Crisis and Federal Reserve Policy - Lloyd B. Thomas

The Financial Crisis and Federal Reserve Policy
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Autor: Lloyd B. Thomas

 Wydawnictwo: Palgrave Macmillan
ISBN: 9781137370778
EAN:
Format: ...
Oprawa: miękka
Stron: 292
Data wydania: 2013-11-01
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Written for the motivated non-specialist, this fully revised and updated edition of The Financial Crisis and Federal Reserve Policy provides the most accurate and thorough coverage available of the causes and consequences of the 2008 Financial Crisis, examining the role the Federal Reserve played in preventing a major economic meltdown on par with the Great Depression. This bestselling work has been retooled from the ground up to include three new chapters on post-Crisis recovery efforts, European sovereign debt, and recently-enacted financial regulations, in addition to updated tables and figures containing the most recent data emerging out of the crisis. After the burst of the credit and housing bubbles in 2008, the Great Recession that followed deprived more than 8 million Americans of their jobs and triggered a per capita loss of income of more than $6,000. Thomas provides readers with a clear and comprehensive explanation of the myriad forces that combined to create the bubbles that were the source of the economic contraction. He retraces the chain reaction that took place as these bubbles deflated, and opens a window into the channels through which the crisis spilled over to produce a recession. "Explores crucial questions surrounding the Great Crisis of 2007-09, its relationship to other financial crises, and the role of the Federal Reserve in the crisis and recovery." - Journal of Economic Literature 'I've read many books on the Financial Crisis. Lloyd Thomas's book, quite simply, is the best. It doesn't simply describe what happened. It explains what happened. And it explains what needs to be done to prevent it from happening again.' - Laurence Seidman, Chaplin Tyler Professor of Economics, University of Delaware, USA 'Thomas provides a comprehensive and dispassionate analysis of the Great Crisis of 2007-2009. Exceptionally well written and researched, the author provides insights into the most severe economic challenge in the U.S. and much of the rest of the world in 75 years. The book has much to offer to professional economists, financial experts, and policy makers, as well as the general citizens who were affected by the severe downturn, housing market collapse, and financial system's near meltdown. The prominent and effective role of the Federal Reserve is the unappreciated story in the Great Crisis and is in sharp contrast to the Fed's performance in the Great Depression of the 1930's. This book is destined to be one of the most thoughtful, independent, and insightful analyses of the Great Crisis. ' - Bruce Jaffee, Professor of Business Economics and Public Policy and Executive Director, Institute for International Business, Indiana University, USA "Timely, informative, insightful, beautifully written, and readable both by informed professionals and economists. Tightly organized and very interesting treatment of the Federal Reserve's role in the current economic crisis with comparative historical background on the Fed's behavior during the Great Depression. A wonderful book." - Michael J. Greenwood, Professor of Economics, University of Colorado at Boulder, USA "Thomas has an amazing grasp of the history of the Great Recession, and a complete understanding of the key institutions involved. The Financial Crisis and Federal Reserve Policy weaves that understanding into a thorough analysis of both the origins of the crisis and the policy response. Written with exceptional clarity, this book is easily accessible to anyone who wants a better understanding of the crisis, but the theory and evidence are so complete that it will be a valuable reference for economists as well. Thomas has the historian's eye for detail and the economist's gift of analysis. He fits the pieces of this amazing event together - the data, the history, the chronology, and most important, the explanation - with great skill and great clarity." - Alan Grant, Professor of Economics, Baker University, USA.

Książka "The Financial Crisis and Federal Reserve Policy"
Lloyd B. Thomas