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Jadis et Naguère, la vision des crises financières dans l'histoire, selon Reinhart et Rogoff

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  • Antoine Parent

Abstract

This paper analyzes how economic history and cliometrics can improve our understanding of the financial crises. We discuss the contributions of authors like Reinhart and Rogoff, Bordo and Eichengreen. According to Reinhart and Rogoff the recent crisis is similar in many aspects to former financial crises. Therefore, this time is not different. This view contradicts Bordo and Eicheingreen?s vision according to which crises have become more severe and more frequent since 1973. However, we need history to understand recent economic events, as argued by Flandreau and Zumer. Regarding past crises both economists and policymakers tried to understand the role of debt and risk default in the triggering of financial crises. Classification JEL : B20, B31, E65

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  • Antoine Parent, 2011. "Jadis et Naguère, la vision des crises financières dans l'histoire, selon Reinhart et Rogoff," Revue économique, Presses de Sciences-Po, vol. 62(6), pages 1095-1104.
    • Handle: RePEc:cai:recosp:reco_626_1095
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    More about this item

    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes

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