ÌÇÐÄvlog¹ÙÍø Affiliated Authors
Minos A. Zombanakis Professor of the International Financial System
Excerpt
Excerpt
Is the 2007 US Sub-Prime Financial Crisis So Different? An International Historical Comparison. Carmen M. Reinhart, Kenneth Rogoff, 2008, Paper. "The first major financial crisis of the twenty-first century involves esoteric instruments, unaware regulators. and skittish investors. It also follows a well-trodden path laid down by centuries of financial folly. Is the "special" problem of sub-prime mortgages really different? Our examination of the longer historical record. which is part of a larger effort on currency and debt crises, finds stunning qualitative and quantitative parallels across a number of standard financial crisis indicators..."