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This Time Is Different - Eight Centuries Of Financial Folly

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Autor:
Carmen M. Reinhart (veja mais livros deste autor)
Editora:
PRINCETON UNIVERSITY PRESS(veja mais livros desta editora)

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"Throughout history, rich and poor countries alike have been lending, borrowing, crashing--and recovering--their way through an extraordinary range of financial crises. Each time, the experts have chimed, ""this time is different""--claiming that the ol d rules of valuation no longer apply and that the new situation bears little similarity to past disasters. With this breakthrough study, leading economists Carmen Reinhart and Kenneth Rogoff definitively prove them wrong. Covering sixty-six count ries across five continents, ""This Time Is Different"" presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikes--from medie val cur rency debasements to today s subprime catastrophe. Carmen Reinhart and Kenneth Rogoff, leading economists whose work has been influential in the policy debate concerning the current financial crisis, provocatively argue that financial combust ions are universal rites of passage for emerging and established market nations. The authors draw important lessons from history to show us how much--or how little--we have learned. Using clear, sharp analysis and comprehensive data, Reinhart and R ogoff doc ument that financial fallouts occur in clusters and strike with surprisingly consistent frequency, duration, and ferocity. They examine the patterns of currency crashes, high and hyperinflation, and government defaults on international and domestic d ebts--as well as the cycles in housing and equity prices, capital flows, unemployment, and government revenues around these crises. While countries do weather their financial storms, Reinhart and Rogoff prove that short memories make it al l too easy for crises to recur. An important book that will affect policy discussions for a long time to come, ""This Time Is Different"" exposes centuries of financial missteps."

Código de barras:
9780691152646
Dimensões:
3.50cm x 13.50cm x 21.50cm
Edição:
1
Marca:
PRINCETON UNIVERSITY PRESS
Idioma:
Português
ISBN:
9780691152646
ISBN13:
9780691152646
Número de páginas:
463
Peso:
470 gramas
Encadernação:
BROCHURA