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

Antoine Parent

Revue économique, 2011, vol. 62, issue 6, 1095-1104

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

JEL-codes: B20 B31 E65 (search for similar items in EconPapers)
Date: 2011
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