Boom and Bust

Boom and Bust

Author: William Quinn

Publisher: Cambridge University Press

Published: 2020-08-06

Total Pages: 297

ISBN-13: 1108369359

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Why do stock and housing markets sometimes experience amazing booms followed by massive busts and why is this happening more and more frequently? In order to answer these questions, William Quinn and John D. Turner take us on a riveting ride through the history of financial bubbles, visiting, among other places, Paris and London in 1720, Latin America in the 1820s, Melbourne in the 1880s, New York in the 1920s, Tokyo in the 1980s, Silicon Valley in the 1990s and Shanghai in the 2000s. As they do so, they help us understand why bubbles happen, and why some have catastrophic economic, social and political consequences whilst others have actually benefited society. They reveal that bubbles start when investors and speculators react to new technology or political initiatives, showing that our ability to predict future bubbles will ultimately come down to being able to predict these sparks.


Boom, Bust, Boom

Boom, Bust, Boom

Author: Bill Carter

Publisher: Simon and Schuster

Published: 2021-08-31

Total Pages: 304

ISBN-13: 1439136580

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A sweeping account of civilization's dependence on copper traces the industry's history, culture and economics while exploring such topics as the dangers posed to communities living near mines, its ubiquitous use in electronics and the activities of the London Metal Exchange. By the author of Fools Rush In. 30,000 first printing.


Boom-bust Cycles and Financial Liberalization

Boom-bust Cycles and Financial Liberalization

Author: Aaron Tornell

Publisher: MIT Press

Published: 2005

Total Pages: 206

ISBN-13:

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Analysis and evidence of how the factors that give rise to boom-bust cycles in fast-growing developing economies also enhance long-run growth. The volatility that has hit many middle-income countries (MICs) after liberalizing their financial markets has prompted critics to call for new policies to stabilize these boom-bust cycles. But, as Aaron Tornell and Frank Westermann point out in this book, over the last two decades most of the developing countries that have experienced lending booms and busts have also exhibited the fastest growth among MICs. Countries with more stable credit growth, by contrast, have exhibited, on average, lower growth rates. Factors that contribute to financial fragility thus appear, paradoxically, to be a source of long-run growth as well. Tornell and Westermann analyze boom-bust cycles in the developing world and discuss how these cycles are generated by credit market imperfections. They explain why the financial liberalization that allows countries to overcome imperfections impeding rapid growth also generates the financial fragility that leads to greater volatility and occasional crises. The conceptual framework they present illustrates this linkage and allows Tornell and Westermann to address normative questions regarding liberalization policies.The authors also characterize key macroeconomic regularities observed across MICs, showing that credit markets play a key role not only in boom-bust episodes but in the strong "credit channel" observed during tranquil times. A theoretical framework is then presented that explains how credit market imperfections can account for these empirical patterns. Finally, Tornell and Westermann provide microeconomic evidence on the credit market imperfections that drive the results of the theoretical framework, finding that asymmetries between tradables and nontradables are key to understanding the patterns in MIC data.


Boom and Bust in Puerto Rico

Boom and Bust in Puerto Rico

Author: A. W. Maldonado

Publisher: University of Notre Dame Pess

Published: 2021-08-01

Total Pages: 318

ISBN-13: 0268200998

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Who is to blame for the economic and political crisis in Puerto Rico—the United States or Puerto Rico? This book provides a fascinating historical perspective on the problem and an unequivocal answer on who is to blame. In this engaging and approachable book, journalist A. W. Maldonado charts the rise and fall of the Puerto Rican economy and explains how a litany of bad political and fiscal policy decisions in Washington and Puerto Rico destroyed an economic miracle. Under Operation Bootstrap in the 1950s and '60s, the rapid transformation and industrialization of the Puerto Rican economy was considered a “wonder of human history,” a far cry from the economic “death spiral” the island’s governor described in 2015. Boom and Bust in Puerto Rico is the story of how the demise of an obscure tax policy that encouraged investment and economic growth led to escalating budget deficits and the government’s shocking default of its $70 billion debt. Maldonado also discusses the extent of the devastation from Hurricane Maria in 2017, the massive street protests during 2019, and the catastrophic earthquakes in January 2020. After illuminating the century of misunderstanding between Puerto Rico and the United States—the root cause of the economic crisis and the island’s gridlocked debates about its political status—Maldonado concludes with projections about the future of the relationship. He argues that, in the end, the economic, fiscal, and political crises are the result of the breakdown and failure of Puerto Rican self-government. Boom and Bust in Puerto Rico is written for a wide audience, including students, economists, politicians, and general readers, all of whom will find it interesting and thought provoking.


Brazil

Brazil

Author: Mr.Antonio Spilimbergo

Publisher: International Monetary Fund

Published: 2019-03-14

Total Pages: 382

ISBN-13: 1484339746

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Brazil is at crossroads, emerging slowly from a historic recession that was preceded by a huge economic boom. Reasons for the historic bust following a boom are manifold. Policy mistakes were an important contributory factor, and included the pursuit of countercyclical policies, introduced to deal with the effects of the global financial crisis, beyond the point where they were helpful. More fundamentally, it reflects longstanding structural weaknesses plaguing the economy, that also help explain Brazil’s uninspiring growth performance over the past four decades.


Boom and Bust Banking

Boom and Bust Banking

Author: David M. Beckworth

Publisher:

Published: 2012

Total Pages: 0

ISBN-13: 9781598130768

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Exploring the forceful renewal of the boom-and-bust cycle after several decades of economic stability, this book is a research-based review of the factors that caused the 2008 recession. It offers cutting-edge diagnoses of the recession and prescriptions on how to boost the economy from leading economists. The book concentrates on the Federal Reserve and its leading role in creating the economic boom and recession of the 2000s. Aimed at professional economists and readers well versed in the basic workings of the economy, it includes innovative proposals on how to avoid future boom-and-bust cycles.


Capturing the Commons

Capturing the Commons

Author: James M. Acheson

Publisher: University Press of New England

Published: 2014-08-26

Total Pages: 294

ISBN-13: 1611687381

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One of the most pressing concerns of environmentalists and policy makers is the overexploitation of natural resources. Efforts to regulate such resources are too often undermined by the people whose livelihoods depend on their use. One of the great challenges for wildlife managers in the twenty-first century is learning to create the conditions under which people will erect effective and workable rules to conserve those resources. James M. Acheson, author of the best-selling Lobster Gangs of Maine (the seminal work on the culture and economics of lobster fishing), here turns his attention to the management of the lobster industry. In this illuminating new book, he shows that resource degradation is not inevitable. Indeed, the Maine lobster fishery is one of the most successful fisheries in the world. Catches have been stable since World War II, and record highs have been achieved since the late 1980s. According to Acheson, these high catches are due, in part, to the institutions generated by the lobster-fishing industry to control fishing practices. These rules are effective. Rational choice theory frames Acheson's down-to-earth study. Rational choice theorists believe that the overexploitation of marine resources stems from their common-pool nature, which results in collective action problems. In fisheries, what is rational for the individual fishermen can lead to disaster for the society. The progressive Maine lobster industry, lobster fishermen, and local groups have solved a series of such problems by creating three different sets of regulations: informal territorial rules; rules to control the number of traps; and formal conservation legislation. In recent years, the industry has successfully influenced new regulations at the federal level and has developed a strong co-management system with the Maine government. The process of developing these rules has been quite acrimonious; factions of fishermen have disagreed over lobster rules designed to give commercial advantage to one group or another. Although fishermen and scientists have come to share a conservation ethic, they often disagree over how to best conserve the lobster and even the quality of science. The importance of Capturing the Commons is twofold: it provides a case study of the management of one highly successful fishery, which can serve as a management model for policy makers, politicians, and local communities; and it adds to the body of theory concerning the conditions under which people will and will not devise institutions to manage natural resources.


Discerning Good from Bad Credit Booms

Discerning Good from Bad Credit Booms

Author: Mr.Giovanni Dell'Ariccia

Publisher: International Monetary Fund

Published: 2020-02-12

Total Pages: 36

ISBN-13: 1513529374

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Credit booms are a focal point for policymakers and scholars of financial crises. Yet our understanding of how the real sector behaves during booms, and why some booms may go bad, is limited. Despite a large and growing body of literature, most of the work has focused on aggregate economic activity, and relatively little is known about which industries benefit and which suffer during these episodes. This note aims to fill this gap by analyzing disaggregated output and employment data in a large sample of advanced and emerging market economies between 1970 and 2014.


Time and Money

Time and Money

Author: Roger W Garrison

Publisher: Routledge

Published: 2000-10-19

Total Pages: 289

ISBN-13: 1134895909

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Time and Money argues persuasively that the troubles which characterise modern capital-intensive economies, particularly the episodes of boom and bust, may best be analysed with the aid of a capital-based macroeconomics. The primary focus of this text is the intertemporal structure of capital, an area that until now has been neglected in favour of labour and money-based macroeconomics.


Cities Of Hope

Cities Of Hope

Author: Ronn F Pineo

Publisher: Routledge

Published: 2018-05-04

Total Pages: 300

ISBN-13: 0429970196

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This book brings together new research, analysis, and comparison on the dawn of modern urbanization in late-nineteenth- and early-twentieth-century Latin America. It offers a sense of what life was like for the urban residents examining the conditions they confronted and exploring their experiences.