000			02829nam a2200325Ia 4500
001			3179
008			230305s2009 xx 000 0 und d
020			_a9780691152646
040			_cTBS
041			_aeng
043			_aen_UK
245		0	_aThis time is different
260			_bPrinceton University Press, _c2009
300			_axlv, 463 p. _c22 cm.
500			_aeight centuries of financial folly
520			_aThroughout 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 old 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 countries 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 medieval currency 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 combustions 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 Rogoff document 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 debts--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 all 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.
590			_bBR B3 ELEC Business Ethics ;
630			_aHB Economic Theory. Demography _918
650			_aFinancial crises _97175
650			_aFiscal policy _97176
650			_aBusiness cycles _93441
653			_aBibliography B3 ELEC - Business Ethics
700			_aRogoff, Kenneth S. _eAuthor
700			_aReinhart, Carmen M. _eAuthor
902			_a1021
905			_am
911			_ahttps://biblioteca.tbs-education.es/portadas/9780691152646.jpg
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