A Crash Course on Crises : : Macroeconomic Concepts for Run-Ups, Collapses, and Recoveries / / Markus K. Brunnermeier, Ricardo Reis.

• Superior document: Title is part of eBook package: De Gruyter EBOOK PACKAGE Business and Economics 2023 English
• VerfasserIn: Brunnermeier, Markus K.,; Reis, Ricardo,
• Place / Publishing House: Princeton, NJ : : Princeton University Press, , [2023]; ©2023
• Year of Publication: 2023
• Language: English
• Physical Description: 1 online resource (136 p.) :; 32 b/w illus.

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.

Table of Contents

Frontmatter -- Contents -- 1 Introduction -- Part I. Growing Fragilities: The Run-up to Crises -- 2 Bubbles and Beliefs -- 3 Capital Inflows and Their (Mis)allocation -- 4 Banks and Their Cousins -- Part II Crashes: Triggers and Amplifiers -- 5 Systemic Risk, Amplification, and Contagion -- 6 Solvency and Liquidity -- 7 The Nexus between the Private and Public Sectors -- 8 The Flight to Safety -- Part III Policies and Recoveries -- 9 Exchange Rate Policies and the Speed of Recoveries -- 10 The New Conventional Monetary Policy -- 11 Fiscal Policy and the Real Interest Rates -- Part IV Parting Words -- 12 Conclusion -- Bibliography -- Index