The anatomy of a credit crisis : the boom and bust in farm land prices in the United States in the 1920s - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The anatomy of a credit crisis : the boom and bust in farm land prices in the United States in the 1920s write by Raghuram Govind Rajan. This book was released on 2012. The anatomy of a credit crisis : the boom and bust in farm land prices in the United States in the 1920s available in PDF, EPUB and Kindle. Does credit availability exacerbate asset price inflation? What channels could it work through? What are the long run consequences? In this paper we address these questions by examining the farm land price boom (and bust) in the United States that preceded the Great Depression. We find that credit availability likely had a direct effect on inflating land prices. Credit availability may have also amplified the relationship between the perceived improvement in fundamentals and land prices. When the perceived fundamentals soured, however, areas with higher ex ante credit availability suffered a greater fall in land prices, and experienced higher bank failure rates. Land prices stayed low for a number of decades after the bust in areas that had higher credit availability, suggesting that the effects of booms and busts induced by credit availability might be persistent. We draw lessons for regulatory policy.
The Anatomy of a Credit Crisis
The Anatomy of a Credit Crisis - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Anatomy of a Credit Crisis write by Raghuram G. Rajan. This book was released on 2015. The Anatomy of a Credit Crisis available in PDF, EPUB and Kindle. Does credit availability exacerbate asset price inflation? What channels could it work through? What are the long run consequences? In this paper we address these questions by examining the farm land price boom (and bust) in the United States that preceded the Great Depression. We find that credit availability likely had a direct effect on inflating land prices. Credit availability may have also amplified the relationship between the perceived improvement in fundamentals and land prices. When the perceived fundamentals soured, however, areas with higher ex ante credit availability suffered a greater fall in land prices, and experienced higher bank failure rates. Land prices stayed low for a number of decades after the bust in areas that had higher credit availability, suggesting that the effects of booms and busts induced by credit availability might be persistent. We draw lessons for regulatory policy.
Inflation Decade, 1910--1920
Inflation Decade, 1910--1920 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Inflation Decade, 1910--1920 write by David I. Macleod. This book was released on 2024. Inflation Decade, 1910--1920 available in PDF, EPUB and Kindle. Zusammenfassung: This book shows how inflation can disrupt politics and society. With no recent precedent, mild inflation spurred mass protests, myriad remedial schemes, and partisan political reversals between 1910 and 1914. Then wartime demand and inflationary fiscal policy doubled consumer prices from 1915 to 1920, triggering waves of strikes, food riots by immigrant housewives, class conflict, and elite fears of revolution. Middle-class households resented falling real incomes. Even more than today, food prices dominated consumer concerns. Yet farmers wanted high commodity prices. Accordingly, both sides blamed and attacked meatpackers, wholesalers, and retailers. Then as now, inflation hurt whichever party held the White House. Fumbling responses by Wilson's administration and the Federal Reserve led to hesitant price controls, punitive raids and prosecutions, and a now-familiar fallback--high interest rates in 1920 and subsequent recession. An epilogue traces continuing popular and political responses to changes in the consumer price index down to 2020. David I. Macleod is Professor Emeritus of History at Central Michigan University, where he taught American social and political history. His publications include Building Character in the American Boy: The Boy Scouts, YMCA, and Their Forerunners, 1870-1920 and The Age of the Child: Children in America, 1890-1920.
Misunderstanding Financial Crises
Misunderstanding Financial Crises - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Misunderstanding Financial Crises write by Gary Gorton. This book was released on 2012-12-27. Misunderstanding Financial Crises available in PDF, EPUB and Kindle. An explanation and history of financial crises.
The Handbook of Historical Economics
The Handbook of Historical Economics - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Handbook of Historical Economics write by Alberto Bisin. This book was released on 2021-04-21. The Handbook of Historical Economics available in PDF, EPUB and Kindle. The Handbook of Historical Economics guides students and researchers through a quantitative economic history that uses fully up-to-date econometric methods. The book's coverage of statistics applied to the social sciences makes it invaluable to a broad readership. As new sources and applications of data in every economic field are enabling economists to ask and answer new fundamental questions, this book presents an up-to-date reference on the topics at hand. Provides an historical outline of the two cliometric revolutions, highlighting the similarities and the differences between the two Surveys the issues and principal results of the "second cliometric revolution" Explores innovations in formulating hypotheses and statistical testing, relating them to wider trends in data-driven, empirical economics
