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000764048 020__ $$a9781137547897$$q(electronic book)
000764048 020__ $$a1137547898$$q(electronic book)
000764048 020__ $$z9781137553683
000764048 0247_ $$a10.1057/9781137547897$$2doi
000764048 035__ $$aSP(OCoLC)ocn946358210
000764048 035__ $$aSP(OCoLC)946358210
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000764048 050_4 $$aHB3717 2008$$b.A76 2016eb
000764048 08204 $$a330.9/0511$$223
000764048 1001_ $$aAronoff, Daniel,$$d1961-$$eauthor.
000764048 24514 $$aThe financial crisis reconsidered :$$bthe mercantilist origin of secular stagnation and boom-bust cycles /$$cDaniel Aronoff.
000764048 264_1 $$aBasingstoke, Hampshire :$$bPalgrave Macmillan,$$c2016.
000764048 300__ $$a1 online resource (xvi, 291 pages)
000764048 336__ $$atext$$btxt$$2rdacontent
000764048 337__ $$acomputer$$bc$$2rdamedia
000764048 338__ $$aonline resource$$bcr$$2rdacarrier
000764048 504__ $$aIncludes bibliographical references and index.
000764048 5050_ $$aCover ; Half-Title ; Title ; Copyright ; Contents ; List of Figures and Tables ; Preface ; Acknowledgments ; Part I The Current Account Deficit and the US Housing Boom: Establishing the Connections ; 1 The Metamorphosis of China's Trade Policy ; 2 The Current Account Deficit and the Housing Boom ; 3 Mercantilism and the Current Account Deficit ; 4 The Current Account Deficit: A Necessary Condition for the Housing Boom ; Part II The Capital Flow Bonanza, the Credit Explosion, and the US Housing Boom: Channels of Transmission ; 5 A Review of Explanations for the Housing Boom
000764048 5058_ $$a6 Decision-Making during the Housing Boom 7 The Capital Flow Bonanza and the Housing Boom ; 8 The Role of Policy during the Housing Boom ; Part III Accumulation and Secular Stagnation: Identifying the Underlying Malady ; 9 Accumulation and Secular Stagnation: Part I, Theory ; 10 Accumulation and Secular Stagnation: Part II, Application ; Part IV The Financial Crisis, I: The Meltdown and the Successful Initial Policy Response ; 11 Descent into the Abyss ; 12 The Initial Policy Response ; Part V The Financial Crisis, II: The Limits of Conventional Policy in a Balance Sheet Recession
000764048 5058_ $$a13 The Dilemma of Policy in a Balance Sheet Recession Part VI Policy Options: How to Exit the Balance Sheet Recession and End Secular Stagnation ; 14 Policy Options ; Notes ; Index
000764048 506__ $$aAccess limited to authorized users.
000764048 520__ $$aIn The Financial Crisis Reconsidered, Aronoff challenges the conventional view that reckless credit produced the US housing boom and the financial crisis, explaining how the large current account deficit, and its mercantilist origin, was a more fundamental cause. He also demonstrates that the decision to provide relief for bank creditors rather than underwater homeowners was responsible for the prolonged recession that followed the crisis. Aronoff proposes a novel theory to account for the ultimate origins of secular stagnation and economic volatility. He shows how accumulation, which occurs when a person or country earns more than it ever plans to spend, generates both an excess of saving and a deficiency in demand. While savings provide the funds to promote booms, under-consumption ensures that these booms will turn bust and that the economy will fall short of its potential growth rate. Aronoff argues that mercantilists and top income earners engage in accumulation, and that the influence of both types has grown in recent decades. Combining economic theory and historical narrative, this book offers a new perspective of the housing boom and the financial crisis, concluding with innovative policy proposals to reduce accumulation without compromising the benefits of a market economy.
000764048 588__ $$aOnline resource; title from PDF title page (viewed April 19, 2016).
000764048 650_0 $$aGlobal Financial Crisis, 2008-2009.
000764048 650_0 $$aFinancial crises.
000764048 650_0 $$aBusiness cycles.
000764048 650_0 $$aMercantile system.
000764048 852__ $$bebk
000764048 85640 $$3SpringerLink$$uhttps://univsouthin.idm.oclc.org/login?url=http://link.springer.com/10.1007/978-1-137-54789-7$$zOnline Access$$91397441.1
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000764048 980__ $$aEBOOK
000764048 980__ $$aBIB
000764048 982__ $$aEbook
000764048 983__ $$aOnline
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