Recommended Resources
- Books on Economic & Financial Crisis The University of Florida Libraries has created a thorough and exhaustive list of books on the crisis that we highly recommend you look at.
Suggested Reading
These titles are available at MSU Libraries and/or electronically.
The subprime solution: how today's global financial crisis happened and what to do about it - Robert J Shiller
Call Number: HG2040.15 .S45 2008
ISBN/ISSN: 0691139296
The subprime mortgage crisis of 2007-2008 has already wreaked havoc on the lives of millions and threatens to derail the U.S. economy and economies around the world. Here, economist Robert Shiller reveals the origins of this crisis and puts forward bold measures to solve it. He calls for an aggressive response--a restructuring of the institutional foundations of the financial system that will not only allow people once again to buy and sell homes with confidence, but will create the conditions for greater prosperity in America and throughout the deeply interconnected world economy
The American Housing Crisis - Susan Hunnicutt
Call Number: HG2040.5.U5 A695 2009
ISBN/ISSN: 0737743093
This book, published in 2009, contains essays analyzing the Housing Crisis and provides a bibliography for further resources.
Obama's challenge : America's economic crisis and the power of a transformative presidency - Robert Kuttner
ISBN/ISSN: 1603580794
Invoking America's greatest leaders, Robert Kuttner explains how Obama must be a transformative president--or a failed one--a president who must succeed in fundamentally changing our economy, society, and democracy for the better.
The Economists' Voice: Top Economists Take on Today's Problems - Joseph E. Stiglitz
Call Number: HC106.83 .E26 2008
ISBN/ISSN: 9780231143646- Deciphering the Liquidity and Credit Crunch 2007-08 - Markus Konrad Brunnermeier
Call Number: H11 .N2434X
This paper from NBER summarizes and explains the main events of the liquidity and credit crunch in 2007-08. Starting with the trends leading up to the crisis, I explain how these events unfolded and how four different amplification mechanisms magnified losses in the mortgage market into large dislocations and turmoil in financial markets. - The integrated financial and real system of national accounts for the United States: does it presage the financial crisis? - Michael G. Palumbo
Call Number: H11 .N2434X
This paper from NBER examines the depth and duration of the slump that invariably follows severe financial crises, which tend to be protracted affairs. We find that asset market collapses are deep and prolonged. On a peak-to-trough basis, real housing price declines average 35 percent stretched out over six years, while equity price collapses average 55 percent over a downturn of about three and a half years. Not surprisingly, banking crises are associated with profound declines in output and employment. The unemployment rate rises an average of 7 percentage points over the down phase of the cycle, which lasts on average over four years. Output falls an average of over 9 percent, although the duration of the downturn is considerably shorter than for unemployment. The real value of government debt tends to explode, rising an average of 86 percent in the major post-World War II episodes. The main cause of debt explosions is usually not the widely cited costs of bailing out and recapitalizing the banking system. The collapse in tax revenues in the wake of deep and prolonged economic contractions is a critical factor in explaining the large budget deficits and increases in debt that follow the crisis. Our estimates of the rise in government debt are likely to be conservative, as these do not include increases in government guarantees, which also expand briskly during these episodes. - The Aftermath of Financial Crises - Carmen M. Reinhart
Call Number: H11 .N2434X NO.14656 2009
This NBER paper examines the depth and duration of the slump that invariably follows severe financial crises, which tend to be protracted affairs. We find that asset market collapses are deep and prolonged. On a peak-to-trough basis, real housing price declines average 35 percent stretched out over six years, while equity price collapses average 55 percent over a downturn of about three and a half years. Not surprisingly, banking crises are associated with profound declines in output and employment. The unemployment rate rises an average of 7 percentage points over the down phase of the cycle, which lasts on average over four years. Output falls an average of over 9 percent, although the duration of the downturn is considerably shorter than for unemployment. The real value of government debt tends to explode, rising an average of 86 percent in the major post-World War II episodes. The main cause of debt explosions is usually not the widely cited costs of bailing out and recapitalizing the banking system. The collapse in tax revenues in the wake of deep and prolonged economic contractions is a critical factor in explaining the large budget deficits and increases in debt that follow the crisis. Our estimates of the rise in government debt are likely to be conservative, as these do not include increases in government guarantees, which also expand briskly during these episodes. - IMF Support and Crisis Prevention - Atish R. Ghosh
Call Number: HG3881.5.I58 I5668
ISBN/ISSN: 9781589067097
This paper examines the various roles of IMF financing in crisis prevention. Emerging market economies that experienced financial crises in the past have been subject to enormous economic and social costs, highlighting the importance of crisis prevention. While the main defense against a crisis lies in a country's own policies and institutional framework, the IMF can contribute to these efforts through its surveillance activities, provision of technical assistance, and promotion of standards and codes. - Subcommittee Hearing on The Effect of the Credit Crunch on Small Business Access to Capital, Serial No. 110-89 - United States Congress - House Committee on Small Business
Call Number: Y 4.SM 1:110-89
ISBN/ISSN: 9780160811487 - Evolution of An Economic Crisis? The Subprime Lending Disaster and The Threat to The Broader Economy, S. Hrg. 110-250, September 19, 2007, 110-1 Hearing - United States Congress - Joint Economic Committee
Call Number: Y 4.EC 7:S.HRG.110-250
ISBN/ISSN: 9780160802379
Other Suggested Reading
These titles are not currently available at MSU. They can be ordered using MSU's Inter-Library Loan System.
The new paradigm for financial markets: the credit crisis of 2008 and what it means / - George Soros
ISBN/ISSN: 1586486837
In the midst of the most serious financial upheaval since the Great Depression, legendary financier George Soros explores the origins of the crisis and its implications for the future. In a concise essay that combines practical insight with philosophical depth, Soros makes an invaluable contribution to our understanding of the great credit crisis and its implications for our nation and the world.
The credit crunch: housing bubbles, globalization and the worldwide economic crisis - Graham Turner
ISBN/ISSN: 0745328105
This book argues that the current financial turmoil signals a crisis in globalisation that will directly challenge the free market economic model. Graham Turner shows that the housing bubbles in the West were deliberately created to mask the damage inflicted by companies shifting production abroad in an attempt to boost profits. As these bubbles burst, economic growth in many developed countries will inevitably tumble. The Japanese crisis of the 1990s shows that banks and governments may struggle to contain the fallout. The problem has not been limited to the US, UK and Europe: housing bubbles have become endemic across wide swathes of emerging market economies. As the West slides, these countries will see an implosion of their credit bubbles too, shaking their faith in the free market. Turner is an experienced and successful economic forecaster, whose opinions are sought by large international banks and top financial journalists. Drawing from his first hand experience of the Japanese property crash of the 1990s, he presents his analysis in a clear and persuasive style, showing that the end of housing market growth spells disaster for neoliberal globalisation.
The Return of Depression Economics and the Crisis of 2008 - Paul Krugman
ISBN/ISSN: 0393071014
In 1999, in The Return of Depression Economics, Paul Krugman surveyed the economic crises that had swept across Asia and Latin America, and pointed out that those crises were a warning for all of us: like diseases that have become resistant to antibiotics, the economic maladies that caused the Great Depression were making a comeback. In the years that followed, as Wall Street boomed and financial wheeler-dealers made vast profits, the international crises of the 1990s faded from memory. But now depression economics has come to America: when the great housing bubble of the mid-2000s burst, the U.S. financial system proved as vulnerable as those of developing countries caught up in earlier crises and a replay of the 1930s seems all too possible.
In this new, greatly updated edition of The Return of Depression Economics, Krugman shows how the failure of regulation to keep pace with an increasingly out-of-control financial system set the United States, and the world as a whole, up for the greatest financial crisis since the 1930s. He also lays out the steps that must be taken to contain the crisis, and turn around a world economy sliding into a deep recession. Brilliantly crafted in Krugman's trademark style--lucid, lively, and supremely informed--this new edition of The Return of Depression Economics will become an instant cornerstone of the debate over how to respond to the crisis.
Global Financial Meltdown: How We Can Avoid the Next Economic Crisis - Colin Reed
ISBN/ISSN: 0230222188
In easy to understand terms and journalistic style, Colin Read describes the reasons for global financial unrest arising from the sub-prime mortgage crisis and economic meltdowns. He walks the reader through a number of topics in economics and connects these topics to real world financial problems concluding with recommendations for the future.
The Wall Street Journal Guide to the End of Wall Street as We Know It: What You Need to Know About the Greatest Financial Crisis of Our Time - and How to Survive - Dave Kansas
ISBN/ISSN: 0061788406
We're in the midst of the greatest financial crisis of our time. Do you know what really happened? Are you prepared for what's to come?
When every headline delivers bad news, and each morning market bell seems to usher in yet another bank debacle, stock market plunge or dire warning about the end of access to credit; threats to our savings and security; and the collapse of the entire financial system as we know it. . . . It's hard to keep up.
But we can't afford to be in the dark just because we can no longer bear to turn on the news.
Written by seasoned financial writer Dave Kansas, The Wall Street Journal Guide to the End of Wall Street as We Know It makes sense of the madness, revealing how the crisis is affecting our financial lives and what steps we should take to inform and protect ourselves. This comprehensive, practical and accessible book delivers:
* An inside look at the financial wizardry, easy money and overconfidence that drove the subprime crisis, credit crunch and market meltdown
* An analysis of the New World Order—the banking behemoths, the government's role—and how it will affect Main Street
* A look at what's safe: a rundown of which investments are protected and which aren't and how fund protection has changed
* Individual investor strategies: stocks, bonds, retirement and real estate (and whether you should think seriously about "the mattress")
From the most authoritative source for business and economic news and written by one of the most trusted voices in financial reporting, The Wall Street Journal Guide to the End of Wall Street as We Know It is the only book you'll need to navigate the storm ahead.
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(662) 325-0008
Send Email
Subjects:
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Business Reference Librarian
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(662) 325 - 9346
Send Email
Subjects:
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