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Getting Off Track - How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis (Hardcover)
Loot Price: R362
Discovery Miles 3 620
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Getting Off Track - How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis (Hardcover)
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Loot Price R362
Discovery Miles 3 620
Supplier out of stock. If you add this item to your wish list we will let you know when it becomes available.
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Throughout history, financial crises have always been caused by
excesses - frequently monetary excesses - which lead to a boom and
an inevitable bust. In our current crisis it was a housing boom and
bust that in turn led to financial turmoil in the United States and
other countries. How did everything deteriorate so suddenly and
dramatically? In Getting Off Track: How Government Actions and
Interventions Caused, Prolonged, and Worsened the Financial Crisis,
Hoover fellow and Stanford economist John B. Taylor offers
empirical research to explain what caused the current financial
crisis, what prolonged it, and what worsened it dramatically more
than a year after it began. The author tells how unusually easy
monetary policy helped set the crisis in motion, as interest rates
at the Federal Reserve and several other central banks deviated
from historical regularities. He explains monetary interaction with
the subprime mortgage problem, showing how the use of these
mortgages, especially the adjustable-rate variety, led to excessive
risk taking. In the United States this was encouraged by government
programs designed to promote home ownership, a worthwhile goal but
overdone in retrospect. Looking ahead, the author suggests a set of
principles to follow to prevent misguided actions and interventions
in the future.
General
Imprint: |
Hoover Institution Press,U.S.
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Country of origin: |
United States |
Release date: |
February 2009 |
First published: |
February 2009 |
Authors: |
John B Taylor
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Dimensions: |
211 x 142 x 12mm (L x W x T) |
Format: |
Hardcover
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Pages: |
92 |
ISBN-13: |
978-0-8179-4971-6 |
Categories: |
Books
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LSN: |
0-8179-4971-2 |
Barcode: |
9780817949716 |
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