Hans-Joachim Voth last updated: 14.02.09 Description: Financial crises are a recurrent feature in modern economies. They were as common in the 19th century as they are today. This course examines financial crises, banking collapses, and credit crunches over the last 200 years. Starting with the subprime crisis, it analyses underlying factors that generate instability in financial markets. Using a mix of recent and historical episodes, the course examines the causes and consequences of banking crises and of asset price bubbles, and concludes with a discussion of policy implications.
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