Fluctuation

Contrary to conventional belief, the authors propose that roots of a financial crisis lie in microeconomic rather than macroeconomic factors. Their evidence is convincing.

This is a good book for anyone who wants to know why the past financial crises happened and how to cope with them from both the public and the private perspectives. The authors also present the "ten warning signs of a financial crisis" based on macroeconomic data that can be used as a guideline to predict a crisis in certain economy. But the problem is they cannot predict when it will happen.

The authors' objective to "offer some unique perspectives, case examples, and practical solutions, and an actionable, strategic blueprint that our clients can tailor to meet their specific needs" is well presented.

If you have no other book on financial crisis management, you must have this one.

The authors succinctly and clearly explain why economies in crisis do not behave the way economies normally do. They then identify key weaknesses in the financial sectors of crisis economies, and explain why they occur.

The book then goes on to provide a thorough and clear exposition on how crisis economies can be turned around, and what needs to be done, both politically and financially.

At this point the book turns to consider bank restructuring (a very specialised subject) and recovery of NPL portfolios in crisis economies. It concludes with recommendations for strengthening the international financial system to limit early economic collapse and prevent international financial contagion.

I really like this book, both as a guide for students, and a "how to" for CEO's and the financial sector. It is brilliantly clear and practical.

If you want to protect yourself and your organisation from financial crisis, or understand what happens when the economy you're operating in suffers collapse, get this book.

If you are interested in financial crises in emerging markets, or have to manage a company during one, you will learn from this book.

Two features make the book unique in the financial-crisis literature. First is real-world experience. While the authors are up on their economic theory, the book's real contribution is the fruit of years of practice. From poring over the innards of banks' loan books to working out a national re-structuring plan, these guys have actually done it, and done it in multiple nations. Until now, the theoretical works of academia and the IMF/World Bank have had the field pretty much to themselves. This book is a refreshing break, and a vital complement.

Second is that the book speaks not just to policymakers, but to the private sector. There's plenty of advice out there for central bankers and finance ministers for crisis-management; there hasn't been anything for corporate executives and bankers. This book fills that void. If I were a CEO managing during a crisis, I'd want this book on my nighttable.

The book is about the financial trouble that fiat (e.g.,paper) money created in France during the revolutionary years. It also states clearly that the people didn't learn enough from a lesson they had 70 years early.

If you read this historical account you will very often wonder: 'Hey sounds familiar to me...'. Too bad - or?

Fiat Money Inflation in France is as much about irrational human behavior as it is about financial crises and runaway inflation. White describes a dissillusioned public who, under the influence of increasingly self-serving public officials and orators, accepted more and more assignant printings even though the perils of such printings had been documented throughout history and were then blatantly obvious right before there eyes.

White presented this analysis of the runaway inflation in France to dissuade the US Government of printing its own paper money. He was successful.

A book worth reading.

A clear presentation of a governments desparate move using cheap inflated paper money to pay off old debts and its effects on france around 1790. This is not a dynamic novel, but mind bombs go off as the author hits the chain of events that occurred when money is inflated, and is backed only by only a promise to pay the debt it represents. The French find themselves mired in a cycle of ever increasing difficulty to pay that debt off. Although it is not a novel and at times a bit dry, you will definitely be talking to your friends and family about what this author has to say and comparing it to what you see happening now.

Allow me to pay respect and compliment to Mr. Don Paarlberg here. Mr. Don Paarlberg has an insightful understanding of human nature and their behavior that his examination and explanations of inflation history grab my intention very time I read this book. They make a lot of senses and transform my knowledge of economics into a penetrating understanding of human behavior and reactions to certain events. Mr. Don Paarlberg elevates my perspective toward macro-economics to a higher level, that of a human behavioral one, and certainly broadens my eyesight with regard to how human nature and human behavior did not change over the past two thousand years or so in terms of what people would do in reaction to price drivers. Lastly, I appreciate Mr. Don Paarlberg's exquisite, precise, and concise way of writing, something much less seen nowadays. Thank you, Mr. Don Paarlberg.

The inflation situation is described and cured in this magnificent book. It shows mortals like myself, what causes inflation and how the whole economic society is linked together.

I found this to be an excellant book for more advanced students (I encouraged mine to read it this past semester). The author gives a splendid explanation of the fundamental economic issues concerning monetary policy and the problems and challenges that plague a dynamic economy.

Yeah, it rocked

Mordecai Kurz offers one of the most important contributions to recent macroeconomics. The book provides a genuine research highway towards the building up of a theory of expectations with both rigour and practical usefulness. The idea or "paradigm" of Rational Beliefs is present in all the papers of this volume. They combine rigourous modelling with insigthful conclusions and provocative questions that look more ambitious than the Rational Expectations research program.This book highlights how important are agents' beliefs and their reactions to observed contradictions between observed values and ex-ante estimates of observable economic variables. With no doubt, this volume is an important tool for academic and non-academic economists. It provides sophisticatesd modelling with insightful interrogants and conclusions that invite to re-think the usefulness of mainstream macroeconomic theory. Its reading is a "must" for every economist or social scientist focused on the analysis of the limitations of human knowledge for decision-making in dynamic and changing environments.

This book indeed presents the most comprehensive to date
review of the noise research. Strongly recommend to
those interested in recent developments in the field.

This book is a real eye-opener, especially about the German hyper-inflation of the early 1920s and the monster Stinnes. If we have any thoughts of timesizing the workweek to achieve full employment instead of downsizing the workforce while trying to create enough 40-hr/wk jobs (but never succeeding), we've got to learn the lessons of this book. Central bankers, left without accountability (like Greenspan today), can negate any progress toward fuller employment and closing the income gap by engineering any inflation rate they want. PS - the author's name is Shapiro, not Shapire

Jan is a heavy weight among economists. As soon as you start reading it, you can't lay it down, and like M&M's you feel sorry when its finished: it's never enough. His writing style is clear and fresh, like a can of coca cola.