A Crash Course on Crises: Macroeconomic Concepts for Run-Ups, Collapses, and Recoveries

A Crash Course on Crises: Macroeconomic Concepts for Run-Ups, Collapses, and Recoveries An incisive overview of the macroeconomics of financial crises-essential reading for students and policy experts alikeWith alarming frequency, modern economies go through macro-financial crashes that arise from the financial sector and spread to the broader economy, inflicting deep and prolonged recessions. A Crash Course on Crises brings together the latest cutting-edge economic research to identify the seeds of these crashes, reveal their triggers and consequences, and explain what policymakers can do about them. Each of the book's ten self-contained chapters introduces readers to a key economic force and provides case studies that illustrate how that force was dominant. Markus Brunnermeier and Ricardo Reis show how the run-up phase of a crisis often occurs in ways that are preventable but that may go unnoticed and discuss how debt contracts, banks, and a search for safety can act as triggers and amplifiers that drive the economy to crash. Brunnermeier and Reis then explain how monetary, fiscal, and exchange-rate policies can respond to crises and prevent them from becoming persistent. With case studies ranging from Chile in the 1970s to the COVID-19 pandemic, A Crash Course on Crises synthesizes a vast literature into ten simple, accessible ideas and illuminates these concepts using novel diagrams and a clear analytical framework. Autor: Markus K. Brunnermeier, Ricardo Reis Wydawnictwo: Princeton University Press Rok wydania: 2025 Okładka: miękka Liczba stron: 136 Wymiary: 23.3 x 15.6 x 1.1 cm Ilustracje: 32 bw illus. Język: angielski ISBN: 9780691223186