Overview
- Uses historical examples to understand financial crises
- Compares the Great Recession with the panic of 1907 and the Great Depression
- Examines the birth of the Federal Reserve and its aims
- Highlights the role of non-bank financial intermiediaries and the crisis of 1929
- Investigates the money market after the Second World War
Part of the book series: Palgrave Studies in Economic History (PEHS)
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Table of contents (9 chapters)
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Front Matter
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Back Matter
Keywords
- US Financial System
- Financial crises
- American economic history
- Federal Reserve
- History of Finance
- US monetary policy
- The Great Depression
- The Great Recession
- Non-bank financial intermediaries
- World War Two economics
- Securitization
- Dealer financing
- The collateral market
- Spread compression
- Central banking history
- History of financial markets
- Panic of 1907
- National Banking Act
- Housing Market Crash
- banking
About this book
Looking at the precedents set by the panic of 1907 and the Great Depression in America, this book investigates the causes of the 2007-2008 financial crisis. Pizzutto examines the effects of monetary policy, as well as of expanding and contracting financial cycles, in order to analyze the breakdown of the money market and capital market circuits. Not only exploring the impact of the Federal Reserve and central banking on monetary policy, he also analyzes the role of non-bank financial intermediaries.
How can monetary policy resolve the instability of the US financial system? How can financial intermediation work effectively? This timely book highlights how historical lessons can be used to avoid the next financial crisis.Authors and Affiliations
About the author
Giorgio Pizzutto is Professor and Head of the Department of Economics, Management and Quantitative Methods at the University of Milan, Italy.
Bibliographic Information
Book Title: The US Financial System and its Crises
Book Subtitle: From the 1907 Panic to the 2007 Crash
Authors: Giorgio Pizzutto
Series Title: Palgrave Studies in Economic History
DOI: https://doi.org/10.1007/978-3-030-14489-0
Publisher: Palgrave Macmillan Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer International Publishing AG, part of Springer Nature 2019
Hardcover ISBN: 978-3-030-14488-3Published: 15 April 2019
eBook ISBN: 978-3-030-14489-0Published: 02 April 2019
Series ISSN: 2662-6497
Series E-ISSN: 2662-6500
Edition Number: 1
Number of Pages: X, 219
Number of Illustrations: 1 b/w illustrations, 12 illustrations in colour
Topics: Economic History, Financial Crises, Banking, North American Economics, Macroeconomics/Monetary Economics//Financial Economics, Economic Policy