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Modern Financial Crises

Argentina, United States and Europe

  • Book
  • © 2016

Overview

Authors:
  1. Beniamino Moro

    1. Department of Economics and Business, University of Cagliari, Cagliari, Italy

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    You can also search for this author in PubMed   Google Scholar

  2. Victor A. Beker

    1. Department of Economics, University of Belgrano and University of Buenos Aires, Buenos Aires, Argentina

    View author publications

    You can also search for this author in PubMed   Google Scholar

  • Provides a comprehensive overview of the causes and consequences of the financial crises in Argentina, the USA and Europe
  • Illustrates the relationship between the American and European financial crises
  • Identifies essential approaches for preventing further financial crises
  • Includes supplementary material: sn.pub/extras

Part of the book series: Financial and Monetary Policy Studies (FMPS, volume 42)

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Table of contents (12 chapters)

  1. Front Matter

    Pages i-xvii
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  2. Introduction

    1. Front Matter

      Pages 1-1
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    2. The Core Characteristics of Financial Crises

      • Beniamino Moro
      Pages 3-27

  3. The Case of Argentina

    1. Front Matter

      Pages 29-29
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    2. Argentina’s Debt Crisis

      • Victor A. Beker
      Pages 31-42

  4. The American 2007–2009 Subprime Crisis

    1. Front Matter

      Pages 43-43
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    2. The American Financial Crisis

      • Victor A. Beker
      Pages 45-59

    3. The Run on Repo and the Policy Interventions to Struggle the Great Crisis

      • Beniamino Moro
      Pages 61-77

  5. The European Public Debt Crisis

    1. Front Matter

      Pages 79-79
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    2. From the American Financial Meltdown to the European Banking and Public Debt Crises

      • Beniamino Moro
      Pages 81-105

    3. The European Crisis and the Accumulation of TARGET2 Imbalances

      • Beniamino Moro
      Pages 107-133

    4. The European Debt Crisis

      • Victor A. Beker
      Pages 135-160

  6. The Impact of the Great Crisis on Economic Thought

    1. Front Matter

      Pages 161-161
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    2. The Theoretical Debate on the Great Crisis

      • Beniamino Moro
      Pages 163-182

    3. From the Economic Crisis to the Crisis of Economics

      • Victor A. Beker
      Pages 183-199

    4. Rethinking Macroeconomics in Light of the Great Crisis

      • Victor A. Beker
      Pages 201-219

  7. Current Issues and Conclusions

    1. Front Matter

      Pages 221-221
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    2. Current Issues and Policies

      • Victor A. Beker, Beniamino Moro
      Pages 223-245

    3. Open Problems and Conclusions

      • Victor A. Beker
      Pages 247-257
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Keywords

About this book

This book is devoted to the analysis of the three main financial crises that have marked this century: 2001 Argentina’s defaulting on its external debt, the American subprime crisis in 2008, and the current European debt crisis in Europe. The book pursues three major objectives: firstly, to accurately portray these three financial crises; secondly, to analyze what went wrong with mainstream economic theory, which was unable to foresee these types of economic turmoil; and thirdly, to review macroeconomic theory, re-evaluating Keynes’ original contribution to economic analysis and pointing out the need to rebuild macroeconomics with a view to studying economic illness rather than trying to prove the non-existence of economic problems.

Authors and Affiliations

  • Department of Economics and Business, University of Cagliari, Cagliari, Italy

    Beniamino Moro

  • Department of Economics, University of Belgrano and University of Buenos Aires, Buenos Aires, Argentina

    Victor A. Beker

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