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Has This Happened Before?

Matthew P. Drennan

in Income Inequality: Why It Matters and Why Most Economists Didn't Notice

Published in print:
2015
Published Online:
May 2016
ISBN:
9780300209587
eISBN:
9780300216349
Item type:
chapter
Publisher:
Yale University Press
DOI:
10.12987/yale/9780300209587.003.0007
Subject:
Political Science, Public Policy

Has rising income inequality or rising household debt or a housing price bubble played a role in serious economic decline in the past? Did a rising average propensity to consume, and thus a falling ... More


The Menace of an Unchecked Housing Bubble

Dean Baker

in The Economists' Voice: Top Economists Take On Today's Problems

Published in print:
2011
Published Online:
November 2015
ISBN:
9780231143653
eISBN:
9780231527866
Item type:
chapter
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231143653.003.0034
Subject:
Economics and Finance, Public and Welfare

This chapter considers the US housing bubble. Over the last eight years, home prices have risen by almost 50 percent in real terms. The run-up has not been even. In large parts of the country (most ... More


From Asset Price Bubbles to Liquidity Traps

A.G. Malliaris

in The Global Financial Crisis and Its Aftermath: Hidden Factors in the Meltdown

Published in print:
2016
Published Online:
January 2017
ISBN:
9780199386222
eISBN:
9780199386253
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199386222.003.0002
Subject:
Economics and Finance, Financial Economics

This chapter argues that it is useful to divide the cyclical behavior of modern mixed capitalist economies into four phases: expansion, upper turning period, recession, and lower turning period. This ... More


The globalisation of the mortgage market

Stuart Lowe

in The Housing Debate

Published in print:
2011
Published Online:
May 2012
ISBN:
9781847422736
eISBN:
9781447305514
Item type:
chapter
Publisher:
Policy Press
DOI:
10.1332/policypress/9781847422736.003.0007
Subject:
Sociology, Urban and Rural Studies

A revolution in global finance following bank liberalisation in the 1980s and the invention of new methods of bundling debts into bonds — through the process of securitization — enabled banks to ... More


Failure by Design: The Story behind America's Broken Economy

Josh Bivens

Published in print:
2011
Published Online:
August 2016
ISBN:
9780801450150
eISBN:
9780801460654
Item type:
book
Publisher:
Cornell University Press
DOI:
10.7591/cornell/9780801450150.001.0001
Subject:
Economics and Finance, Public and Welfare

This book relays a compelling narrative of the U.S. economy's struggle to emerge from the Great Recession of 2008. It explains the causes and impact on working Americans of the most catastrophic ... More


The Debt Effect

Rohit

in It's Not Over: Structural Drivers of the Global Economic Crisis

Published in print:
2013
Published Online:
January 2013
ISBN:
9780198088417
eISBN:
9780199082292
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198088417.003.0006
Subject:
Economics and Finance, Macro- and Monetary Economics

Chapter 6 studies the path of an economy where consumption of the workers is not limited by their wage income. They can take debt to finance it. Allowing for debt-driven consumption of the workers ... More


House Prices in Denmark and Sweden

U. Michael Bergman, Bjørn Tangaa Sillemann, and Peter Birch Sørensen

in Reform Capacity and Macroeconomic Performance in the Nordic Countries

Published in print:
2015
Published Online:
March 2015
ISBN:
9780198717102
eISBN:
9780191785740
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198717102.003.0012
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter studies the housing market in Denmark and Sweden. While house prices in both countries increased substantially during the run-up to the current crisis, in Denmark the increases were ... More


Real Estate Cycles: International Episodes

Man Cho and Kyung-Hwan Kim

in Private Real Estate Markets and Investments

Published in print:
2014
Published Online:
August 2014
ISBN:
9780199388752
eISBN:
9780199388783
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199388752.003.0003
Subject:
Economics and Finance, Financial Economics

A strand of literature contends that the housing market is cyclical. Evidence in recent episodes of housing price boom-busts from the United States and Europe supports this belief. This chapter ... More


The 2008 Meltdown

Matthew P. Fink

in The Rise of Mutual Funds: An Insider’s View

Published in print:
2011
Published Online:
January 2012
ISBN:
9780199753505
eISBN:
9780199918805
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199753505.003.0013
Subject:
Economics and Finance, Macro- and Monetary Economics, Financial Economics

The turn of the 21st century witnessed a huge run up in home prices. Despite warnings, the Federal Reserve Board and other regulators did not act to curb speculation. When the bubble burst, there was ... More


Corporate Governance after the Financial Crisis

Stephen M. Bainbridge

Published in print:
2012
Published Online:
May 2012
ISBN:
9780199772421
eISBN:
9780199932696
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199772421.001.0001
Subject:
Law, Company and Commercial Law

The years from 2000 to 2010 were bookended by two major economic crises. The bursting of the dotcom bubble and the extended bear market of 2000 to 2002 prompted Congress to pass the Sarbanes–Oxley ... More


Lessons from the Great American Real Estate Boom and Bust of the 1920s

Eugene N. White

in Housing and Mortgage Markets in Historical Perspective

Published in print:
2014
Published Online:
January 2015
ISBN:
9780226073842
eISBN:
9780226093284
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226093284.003.0005
Subject:
Economics and Finance, Economic History

Although long obscured by the Great Depression, the nationwide housing “bubble” that appeared in the early 1920s and burst in 1926 was similar in magnitude to the recent real estate boom and bust. ... More


Lessons of the Financial Crisis for Private- Label MBS

Mark Adelson

in The Handbook of Mortgage-Backed Securities: 7th Edition

Published in print:
2016
Published Online:
October 2016
ISBN:
9780198785774
eISBN:
9780191827594
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198785774.003.0019
Subject:
Economics and Finance, Financial Economics, Macro- and Monetary Economics

This chapter discusses the lessons of the 2008 financial crisis for private-label mortgage-based securities (MBS). It considers both what happened in the general economy and evolution of the mortgage ... More


The Subprime Mortgage Crisis

Anthony B. Sanders

in Public Real Estate Markets and Investments

Published in print:
2014
Published Online:
September 2014
ISBN:
9780199993277
eISBN:
9780199395767
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199993277.003.0010
Subject:
Economics and Finance, Financial Economics

The subprime mortgage crisis was a confluence of a burst of the housing bubble and rising unemployment resulting partly from extraordinary intervention by the government in terms of encouraging ... More


Consumption and Investment Booms in the 1920s and Their Collapse in 1930

Steven Gjerstad and Vernon L. Smith

in Housing and Mortgage Markets in Historical Perspective

Published in print:
2014
Published Online:
January 2015
ISBN:
9780226073842
eISBN:
9780226093284
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226093284.003.0004
Subject:
Economics and Finance, Economic History

Similarities between the financial crisis in September 2008 and the collapse of the financial system during the depression have been widely noted. Yet the comparability of the origins and ... More


Financial Crisis Origin

Padma Desai

in From Financial Crisis to Global Recovery

Published in print:
2011
Published Online:
November 2015
ISBN:
9780231157865
eISBN:
9780231527743
Item type:
chapter
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231157865.003.0001
Subject:
Economics and Finance, Public and Welfare

This chapter explores the housing bubble phenomenon that led to the economic recession in the United States from 2007 to 2009. The first phase, from 2001 to 2004, was characterized by the ... More


From isolated programmes to an integrated approach: the case of La Barceloneta, Spain

Montserrat Pareja-Eastaway and Montse Simó-Solsona

in Renewing Europe's housing

Published in print:
2014
Published Online:
May 2015
ISBN:
9781447310129
eISBN:
9781447310143
Item type:
chapter
Publisher:
Policy Press
DOI:
10.1332/policypress/9781447310129.003.0009
Subject:
Political Science, Public Policy

Before the house price bubble burst in 2007, a high level of owner occupation and a booming real estate sector meant that housing improvement was a minor consideration in Spanish policy, while there ... More


Long-Term Perspectives on the Current Boom in Home Prices

Robert J. Shiller

in The Economists' Voice: Top Economists Take On Today's Problems

Published in print:
2011
Published Online:
November 2015
ISBN:
9780231143653
eISBN:
9780231527866
Item type:
chapter
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231143653.003.0033
Subject:
Economics and Finance, Public and Welfare

This chapter addresses some common questions from homeowners: Is the current boom in home prices temporary? Is a crash possible? And if prices do fall, will they come back up fairly soon, or will ... More


The Great Recession: The damage done and the rot revealed

Josh Bivens and Lawrence Mishel

in Failure by Design: The Story behind America's Broken Economy

Published in print:
2011
Published Online:
August 2016
ISBN:
9780801450150
eISBN:
9780801460654
Item type:
chapter
Publisher:
Cornell University Press
DOI:
10.7591/cornell/9780801450150.003.0001
Subject:
Economics and Finance, Public and Welfare

This introductory chapter argues that the consequences of the Great Recession are driven by social and political choices about how the economy is managed. It was not inevitable that the significant ... More


The Rise and Decline of the L.A. and New York Schools

David Halle and Andrew A. Beveridge

in The City, Revisited: Urban Theory from Chicago, Los Angeles, and New York

Published in print:
2011
Published Online:
August 2015
ISBN:
9780816665754
eISBN:
9781452946559
Item type:
chapter
Publisher:
University of Minnesota Press
DOI:
10.5749/minnesota/9780816665754.003.0007
Subject:
Architecture, Architectural Theory and Criticism

This chapter argues that it is time to move beyond the framework of the Los Angeles School and a New York School. Both schools were reacting, in different ways, to a common view that American cities ... More


The Dollar’s Future as a Reserve Currency

Padma Desai

in From Financial Crisis to Global Recovery

Published in print:
2011
Published Online:
November 2015
ISBN:
9780231157865
eISBN:
9780231527743
Item type:
chapter
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231157865.003.0007
Subject:
Economics and Finance, Public and Welfare

This chapter analyzes the relationship between Chinese and U.S. monetary policy. It specifically looks into the nations' partnership during the global financial crisis when both nations were at an ... More


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