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Journal of Economic Literature: Vol. 50 No. 4 (December 2012)

JEL Volume. 50, Issue 4 | Previous ArticleNext Article

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Global Financial Stability and the Lessons of History: A Review of Carmen M. Reinhart and Kenneth S. Rogoff's This Time Is Different: Eight Centuries of Financial Folly

Article Citation

Taylor, Alan M. 2012. "Global Financial Stability and the Lessons of History: A Review of Carmen M. Reinhart and Kenneth S. Rogoff's This Time Is Different: Eight Centuries of Financial Folly." Journal of Economic Literature, 50(4): 1092-1105.

DOI: 10.1257/jel.50.4.1092

Abstract

In Reinhart and Rogoff's economic history This Time is Different, the authors provide a panoramic view of crises from the Middle Ages to the modern era. Published just as the current global financial storm arrived, the book quickly showed how history could provide not just useful perspective but also, as we can now see, very prescient guidance in the aftermath. In the longer run, the book serves to inspire ongoing work in long-run macro-financial history. (JEL F30, G01, G20, N20)

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Authors

Taylor, Alan M. (U VA)

JEL Classifications

F30: International Finance: General
G01: Financial Crises
G20: Financial Institutions and Services: General
N20: Economic History: Financial Markets and Institutions: General, International, or Comparative