Misunderstanding Financial Crises: Why We Don\u2019t See Them Coming est un essai de l'\u00e9conomiste Gary B. Gorton, grand sp\u00e9cialiste des crises financi\u00e8res. Il y analyse pourquoi les \u00e9conomistes ont sous-estim\u00e9 le risque de crise avant 2007 et pourquoi les crises sont inh\u00e9rentes au syst\u00e8me financier.<\/p>\n
Misunderstanding Financial Crises: Why We Don’t See Them Coming – Gary B. Gorton (Oxford University Press)<\/p>\n
Before 2007, economists thought that financial crises would never happen again in the United States, that such upheavals were a thing of the past. Gary B. Gorton, a prominent expert on financial crises, argues that economists fundamentally misunderstand what they are, why they occur, and why there were none in the U.S. from 1934 to 2007.<\/p>\n
Misunderstanding Financial Crises offers a back-to-basics overview of financial crises, and shows that they are not rare, idiosyncratic events caused by a perfect storm of unconnected factors. Instead, Gorton shows how financial crises are, indeed, inherent to our financial system. Economists, Gorton writes, looked from a certain point of view and missed everything that was the evolution of capital markets and the banking system, the existence of new financial instruments, and the size of certain money markets like the sale and repurchase market.<\/p>\n
Comparing the so-called “Quiet Period” of 1934 to 2007, when there were no systemic crises, to the “Panic of 2007-2008,” Gorton ties together key issues like bank debt and liquidity, credit booms and manias, moral hazard, and too-big-too-fail–all to illustrate the true causes of financial collapse.<\/p>\n
He argues that the successful regulation that prevented crises since 1934 did not adequately keep pace with innovation in the financial sector, due in part to the misunderstandings of economists, who assured regulators that all was well. Gorton also looks forward to offer both a better way for economists to think about markets and a description of the regulation necessary to address the future threat of financial disaster.<\/p>\n
Avant 2007, de nombreux \u00e9conomistes pensaient que les crises financi\u00e8res appartenaient au pass\u00e9 aux \u00c9tats-Unis. Dans cet ouvrage, Gary B. Gorton soutient que ces \u00e9conomistes se trompent sur la nature des crises, sur leurs causes et sur l'absence de crise syst\u00e9mique am\u00e9ricaine entre 1934 et 2007, p\u00e9riode qu'il nomme \u00ab Quiet Period \u00bb. Il propose une vue d'ensemble des crises financi\u00e8res, qu'il ne consid\u00e8re pas comme des \u00e9v\u00e9nements rares et isol\u00e9s, mais comme inh\u00e9rents au syst\u00e8me financier. L'auteur examine la dette bancaire, la liquidit\u00e9, les booms de cr\u00e9dit, l'al\u00e9a moral et le probl\u00e8me du \u00ab too big to fail \u00bb. Il compare cette p\u00e9riode calme \u00e0 la Panique de 2007-2008 et explique que la r\u00e9gulation n'a pas suivi le rythme de l'innovation financi\u00e8re, notamment les nouveaux instruments et le march\u00e9 des pensions (repo).<\/p>\n
Gary B. Gorton est \u00e9conomiste et professeur de finance \u00e0 la Yale School of Management. Sp\u00e9cialiste reconnu des crises financi\u00e8res et du syst\u00e8me bancaire, il a notamment travaill\u00e9 sur les paniques bancaires et sur le march\u00e9 des pensions (repo) lors de la crise de 2007-2008. Ses travaux sur l'histoire financi\u00e8re am\u00e9ricaine sont largement cit\u00e9s dans le domaine.<\/p>\n
Tous les livres de Gary B. Gorton<\/a><\/p>\n Vous cherchez Misunderstanding Financial Crises: Why We Don\u2019t See Them Coming \u2013 Gary B. Gorton (Oxford University Press) ? Cet exemplaire d'occasion est disponible sur Ktebi Ktebek, la premi\u00e8re marketplace circulaire du livre de seconde main en Tunisie. Commandez-le en ligne et faites-vous livrer partout en Tunisie. Acheter d'occasion, c'est donner une seconde vie \u00e0 un livre tout en lisant \u00e0 petit prix. D\u00e9couvrez d'autres livres dans la cat\u00e9gorie Finance & investissement<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Before 2007, economists thought that financial crises would never happen again in the United States, that such upheavals were a thing of the past. Gary B. Gorton, a prominent expert on financial crises, argues that economists fundamentally misunderstand what they are, why they occur, and why there were none in the U.S. from 1934 to 2007.<\/p>\n Misunderstanding Financial Crises offers a back-to-basics overview of financial crises, and shows that they are not rare, idiosyncratic events caused by a perfect storm of unconnected factors. Instead, Gorton shows how financial crises are, indeed, inherent to our financial system. Economists, Gorton writes, looked from a certain point of view and missed everything that was the evolution of capital markets and the banking system, the existence of new financial instruments, and the size of certain money markets like the sale and repurchase market.<\/p>","protected":false},"featured_media":56551,"comment_status":"open","ping_status":"closed","template":"","meta":[],"product_brand":[6412],"product_cat":[19346,19250],"product_tag":[6359,6414,6415],"class_list":["post-58048","product","type-product","status-publish","has-post-thumbnail","product_author-gary-b-gorton","product_brand-oxford-university-press","product_cat-economie","product_cat-finance","product_tag-business","product_tag-economics","product_tag-finance","first","outofstock","sold-individually","shipping-taxable","purchasable","product-type-simple"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/ktebiktebek.com\/ar\/wp-json\/wp\/v2\/product\/58048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktebiktebek.com\/ar\/wp-json\/wp\/v2\/product"}],"about":[{"href":"https:\/\/ktebiktebek.com\/ar\/wp-json\/wp\/v2\/types\/product"}],"replies":[{"embeddable":true,"href":"https:\/\/ktebiktebek.com\/ar\/wp-json\/wp\/v2\/comments?post=58048"}],"version-history":[{"count":0,"href":"https:\/\/ktebiktebek.com\/ar\/wp-json\/wp\/v2\/product\/58048\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktebiktebek.com\/ar\/wp-json\/wp\/v2\/media\/56551"}],"wp:attachment":[{"href":"https:\/\/ktebiktebek.com\/ar\/wp-json\/wp\/v2\/media?parent=58048"}],"wp:term":[{"taxonomy":"product_brand","embeddable":true,"href":"https:\/\/ktebiktebek.com\/ar\/wp-json\/wp\/v2\/product_brand?post=58048"},{"taxonomy":"product_cat","embeddable":true,"href":"https:\/\/ktebiktebek.com\/ar\/wp-json\/wp\/v2\/product_cat?post=58048"},{"taxonomy":"product_tag","embeddable":true,"href":"https:\/\/ktebiktebek.com\/ar\/wp-json\/wp\/v2\/product_tag?post=58048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Fiche du livre<\/h2>\n
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