First Great Recession of the 21st Century

Edited by Óscar Dejuán, Professor of Economics, Department of Economics and Finance, University of Castilla-La Mancha, Spain, Eladio Febrero, University of Castilla-La Mancha, Spain and Maria Cristina Marcuzzo, University of Rome ‘La Sapienza’, Italy

• Contents:IntroductionÓscar Dejuán, Eladio Febrero and Maria Cristina MarcuzzoPART I: ECONOMISTS ON TRIAL1. Who Predicted the Crisis and What Can We Learn from Them?Dirk J. Bezemer2. A Brief Note on Economic Recessions, Banking Reform and the Future of CapitalismJesús Huerta de Soto3. Understanding Crisis: On the Meaning of Uncertainty and ProbabilityEkaterina Svetlova and Matthias Fiedler4. Financial Crisis and Risk Measurement: The Historical Perspective and a New MethodologyGumersindo Ruiz and Ramón Trías5. Did Economic Analysis Fail in the Current Financial Crisis?Julio SeguraPART II: WHAT DOES HISTORY TELL US?6. Does the Current Global Crisis Remind us of the Great Depression?Sunanda Sen7. Innovation, Growth, Cycles and Finance: Three (or Four or More) Stories from the 1930s and their LessonsCatherine P. Winnett and Adrian B. Winnett8. Epic Recession and Economic TheoryJack Rasmus9. Did Asset Prices Cause the Current Crisis?Edith Skriner10. The Role of the History of Economic Thought in the Development of Economic Theory and PolicySteven KatesPART III: COUNTRY CASES IN A GLOBAL CRISIS11. Testimony to the Financial Crisis Inquiry Commission by Alan GreenspanEditorial note12. Long-term Depression and New Markets: Economists and the 2008 RecessionDavide Gualerzi13. Manifestations of the Global Crisis in a Small Open EconomyIvars Brīvers14. The Aftermath of a Long Decade of Real Nil Interest Rates (Spain 1996–2008)Óscar Dejuán and Eladio FebreroIndex

‘The First Great Recession of the 21st Century, fascinating, insightful and thought-provoking, will prove a challenging read for academics, students and researchers in the fields of economics, money, finance and banking, and the history of economics. It will also prove invaluable for economic policymakers at all levels.’