Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis

Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis

by John B. Taylor
ISBN-10:
0817949712
ISBN-13:
9780817949716
Pub. Date:
02/01/2009
Publisher:
Hoover Institution Press
ISBN-10:
0817949712
ISBN-13:
9780817949716
Pub. Date:
02/01/2009
Publisher:
Hoover Institution Press
Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis

Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis

by John B. Taylor
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Overview

In this concise volume, leading economist John B. Taylor offers empirical research to explain what caused the current financial crisis, what prolonged it, and what dramatically worsened it more than a year after it began. The evidence he presents strongly suggests that specific government actions and interventions are largely to blame and that any future government interventions must be based on a clearly stated diagnosis of the problem and a rationale for the interventions.

Product Details

ISBN-13: 9780817949716
Publisher: Hoover Institution Press
Publication date: 02/01/2009
Series: Hoover Inst Press Publication
Edition description: New
Pages: 92
Product dimensions: 5.50(w) x 8.20(h) x 1.50(d)

About the Author

John B. Taylor is the Bowen H. and Janice Arthur McCoy Senior Fellow at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University.

What People are Saying About This

James Poterba

"This short volume does a masterful job of tracking the stunning financial market and macroeconomic events of 2007 and 2008, and it provides an organizing framework that will enable the specialist and novice alike to examine these events in a coherent setting."--(James Poterba, Mitsui Professor of Economics at MIT and President and CEO of the National Bureau of Economic Research)

Anna Schwartz

(If Milton Friedman and I had written as persuasive an analysis as this, one year-rather than 30 years-after the Great Depression began, the United States might have had a typical recession rather than the greatest downturn in history."--(Anna Schwartz, author, with Milton Friedman, of The Great Contraction, 1929-1933)

George Shultz

"Big problems confront us, and responses of immense size are on the table. We desperately need a solid and fact-based analysis so that we get the prescription right. John Taylor provides just that. A must-read for everyone involved."--(George Shultz, former secretary of Treasury, State, and Labor and Budget Director)

Allan Meltzer

"John Taylor is one of the very few who points out the errors that the Federal Reserve made during this difficult period and also shows how they could avoid them. Members of Congress should read this book instead of looking for scapegoats in the wrong places."--(Allan Meltzer, author of The History of the Federal Reserve)

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