Fighting Financial Crises

Learning from the Past

Fighting Financial Crises
Gary B Gorton, Ellis W Tallman
RRP:
NZ$ 106.99
Our Price:
NZ$ 85.59
Paperback
h229 x 152mm - 256pg
22 Apr 2021 US
International import eta 7-19 days
9780226786209
Out Of Stock
Currently no stock in-store, stock is sourced to your order
If you' ve got money in the bank, chances are you' ve never seriously worried about not being able to withdraw it. But there was a time in the United States, an era that ended just over a hundred years ago, when bank customers had to pay close attention to the solvency of the banking system, knowing they might have to rush to retrieve their savings before the bank collapsed. During the National Banking Era (1863-1913), before the establishment of the Federal Reserve, widespread banking panics were indeed rather common. Yet these pre-Fed banking panics, as Gary B. Gorton and Ellis W. Tallman show, bear striking similarities to our recent financial crisis. Fighting Financial Crises thus turns to the past to better understand our uncertain present, investigating how panics during the National Banking Era played out and how they were eventually quelled and prevented. The authors then consider the Fed' s and the SEC' s reactions to the recent crisis, building an informative new perspective on how the modern economy works.
"A vital addition to crisis literature because it compares what happened in 2008 to the ways in which US bankers dealt with panics on their own in the years before there was a Fed. . . . With illustration, analysis, and nuance on every page, Fighting Financial Crises is one hundred and fifty years better than Lombard Street. "-- "Economic Principals"
Gary B. Gorton is the Frederick Frank Class of 1954 Professor of Management and professor of finance at Yale University School of Management and a research associate of the NBER. He is the author of many books, including, most recently, The Maze of Banking: History, Theory, Crisis. Ellis W. Tallman is executive vice president and director of research at the Federal Reserve Bank of Cleveland. He has published extensively on macroeconomics, economic forecasting, and historical episodes of financial crisis in several top journals.
Status: No local stock, title imported to order
ISBN-13: 9780226786209
Published: 22 Apr 2021
Published In: United States
Imprint: University of Chicago Press
Publisher: University of Chicago Press
Format: Paperback
Height: 229mm
Width: 152mm
Spine: 25mm
Pages: 256

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