<h1><em>Manias, Panics, and Crashes</em></h1>

<p><em>by Charles Kindleberger</em></p>

<p>(<a href="http://www.nowandfutures.com/large/Manias,Panics,andCrashes.pdf" rel="nofollow">Full book pdf</a>)</p>

<p>An easier reading compared to Reinhart and Rogoff. It informally explains how crises occur and presents some famous examples.</p>

CC BY-SA 3.0
2015-03-21T23:36:14.720Z
2015-03-21T23:36:14.720Z
Anton Tarasenko
<h1><em><a href="http://www.reinhartandrogoff.com/" rel="nofollow">This Time Is Different</a></em></h1>

<p><em>by Reinhart and Rogoff</em></p>

<p>Detailed, structured, and comprehensive. A brief paper by the same authors on the same topic: <em><a href="http://www.nber.org/papers/w13882" rel="nofollow">This Time is Different: A Panoramic View of Eight Centuries of Financial Crises</a></em>. The paper's abstract:</p>

<blockquote>
  <p>This paper offers a "panoramic" analysis of the history of financial
  crises dating from England's fourteenth-century default to the current
  United States sub-prime financial crisis. Our study is based on a new
  dataset that spans all regions. It incorporates a number of important
  credit episodes seldom covered in the literature, including for
  example, defaults and restructurings in India and China. [...] We find
  that serial default is a nearly universal phenomenon as countries
  struggle to transform themselves from emerging markets to advanced
  economies. Major default episodes are typically spaced some years (or
  decades) apart, creating an illusion that "this time is different"
  among policymakers and investors. [...] We also confirm that crises
  frequently emanate from the financial centers with transmission
  through interest rate shocks and commodity price collapses. [...] Our
  data also documents other crises that often accompany default:
  including inflation, exchange rate crashes, banking crises, and
  currency debasements.</p>
</blockquote>

CC BY-SA 3.0
2015-03-21T23:34:07.280Z
2015-03-23T11:08:07.780Z
2015-03-23T11:08:07.780Z
Anton Tarasenko
<p>There have been many business cycles in the US over the past 50 years (although less so since the great moderation). Many of us youngsters are too young to remember many of these. </p>

<p>Is there some summary article / plot containing these, including their causes? For example: </p>

<ul>
<li>1990: Gulf war, drop in oil supply</li>
<li>2000: crash of internet related stocks</li>
<li>2008: crash of mortgages/housing market in the US, amplified through banking sector</li>
</ul>

CC BY-SA 3.0
2015-03-23T11:20:12.133Z
Not every recession is a crisis. Are you more interested in the crises or the business cycle? For the latter, the NBER recession dates (http://www.nber.org/cycles.html) might be a good place to start.
BKay
CC BY-SA 3.0
2015-03-23T18:38:59.693Z
Decent starting points:
http://lmgtfy.com/?q=list+of+recessions&l=1
http://lmgtfy.com/?q=list+of+economic+crises&l=1
Monkeynomics
<macroeconomics><reference-request><business-cycles><economic-crisis>
Overview: Crises and their causes
FooBar
# Overview: Crises and their causes

(Asked by: username_0 on 2015-03-21)

There have been many business cycles in the US over the past 50 years (although less so since the great moderation). Many of us youngsters are too young to remember many of these.

Is there some summary article / plot containing these, including their causes? For example:

* 1990: Gulf war, drop in oil supply
* 2000: crash of internet related stocks
* 2008: crash of mortgages/housing market in the US, amplified through banking sector

**Tags:** macroeconomics, reference-request, business-cycles, economic-crisis

> **Comments:**
> **username_1**: Not every recession is a crisis. Are you more interested in the crises or the business cycle? For the latter, the NBER recession dates (http://www.nber.org/cycles.html) might be a good place to start.  
> **username_2**: Decent starting points: http://lmgtfy.com/?q=list+of+recessions&l=1 http://lmgtfy.com/?q=list+of+economic+crises&l=1  

---

## 2 answers

### Answer by username_3 on 2015-03-21. Score: 4

# *Manias, Panics, and Crashes*

*by Charles Kindleberger*

([Full book pdf](http://www.nowandfutures.com/large/Manias,Panics,andCrashes.pdf))

An easier reading compared to Reinhart and Rogoff. It informally explains how crises occur and presents some famous examples.


---

### Answer by username_3 on 2015-03-21. Score: 2

# *[This Time Is Different](http://www.reinhartandrogoff.com/)*

*by Reinhart and Rogoff*

Detailed, structured, and comprehensive. A brief paper by the same authors on the same topic: *[This Time is Different: A Panoramic View of Eight Centuries of Financial Crises](http://www.nber.org/papers/w13882)*. The paper's abstract:

> This paper offers a "panoramic" analysis of the history of financial
> crises dating from England's fourteenth-century default to the current
> United States sub-prime financial crisis. Our study is based on a new
> dataset that spans all regions. It incorporates a number of important
> credit episodes seldom covered in the literature, including for
> example, defaults and restructurings in India and China. [...] We find
> that serial default is a nearly universal phenomenon as countries
> struggle to transform themselves from emerging markets to advanced
> economies. Major default episodes are typically spaced some years (or
> decades) apart, creating an illusion that "this time is different"
> among policymakers and investors. [...] We also confirm that crises
> frequently emanate from the financial centers with transmission
> through interest rate shocks and commodity price collapses. [...] Our
> data also documents other crises that often accompany default:
> including inflation, exchange rate crashes, banking crises, and
> currency debasements.


---

