In sum, economists can find arguments to explain why countries are able to borrow abroad despite the limited rights of creditors. But the arguments are surprisingly complex, suggesting that sustainable debt levels may be fragile as well. Concerns over future access to capital markets, maintaining trade, and possibly broader international relations all support debt flows, with the relative emphasis and weights depending on factors specific to each situation. That is, even if lenders cannot directly go in and seize assets as in a conventional domestic default, they still retain leverage sufficient to entice a country to repay loans of at least modest size. We can dismiss, however, the popular notion that countries pay back their debts so that they can borrow even more in the future. Ponzi sc... (查看原文)
Two features stand out from the summary statistics presented in table. First is the persistence of the cycle in real housing prices in both advanced economies and emerging markets, typically for four to six years. The second feature that stands out from table is that the magnitudes of the declines in real housing prices around banking crises from peak to trough are not appreciably different in emerging and advanced economie. This comparability is quite surprising given that most macroeconomic time series exhibit drastically greater volatility in emerging markets; therefore, it merits further attention. Certainly the first results presented here from comparisons of housing price booms and busts around the dates of banking crises appears to provide strong support for the contention that bank... (查看原文)
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机械工业出版社2010版
猪王23
机械工业出版社2010版
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机械工业出版社2010版
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机械工业出版社2020版
0 有用 Hedwig 2017-03-03 22:28:35
除了被遗忘的，没有什么是新东西。高悬于头顶的达摩克利斯之剑，这次是否真的不一样
0 有用 冷眼旁观 2015-10-04 19:15:38
实证研究的书。一些数据和结论可以参考。
13 有用 [已被注销] 2016-06-25 14:32:24
这书不行，罗列一堆现象，没有理论，除了说明金融危机一再发生，没有其他东西。
0 有用 PLUTO在读书 2016-04-12 23:14:13
201608 其实不少数据还是很赞的，但实在是无奈，本来内容就有点枯燥晦涩，再加上台湾人的行文实在是不习惯，只能草草看一遍
3 有用 liang 2012-12-18 17:55:28
很无聊的书，味同嚼蜡，来不及进入我读列表就被翻完了，全新，谁要，出个邮费就给
0 有用 james 2024-06-06 15:06:18 湖北
资产软，负债硬，慎用杠杆。
0 有用 dollar 2024-04-19 17:03:43 天津
非常扎实的基础数据，回溯了过往几百年的金融危机（债务危机）的历史，但是对于非专业人士来说，阅读体验很不友好。 2008年的金融危机已经过去16年了，也许危机以及不断积累的债务，已经在不知不觉中积聚了很大的势能，只等着一触即发。也许如作者所说的“这次不一样”综合征也正处在持续发生的周期中。对现代货币政策机构的盲目信任，就是最大的症结。
0 有用 Aaron 2024-04-01 01:53:34 江苏
历史不是只有叙述一种写法，事件定义量化实证的优秀研究，相比于理论结论，更佩服于作者的方法论。
0 有用 要理性 2024-03-28 19:40:13 浙江
不太看得进去
0 有用 难得 2024-03-15 18:59:11 江西
名字响亮，但是内容很乏味，对非要研究者意义不大。八百年金融危机史，宗旨就一个，债务问题引发一连串的问题，费时费力建议弃读。