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Crisis Annotated Bibliography

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This annotated bibliography is designed to give readers an indication of how the Financial crisis occurred. The references listed below will assist in assimilating information regarding the impacts and causes of financial crisis and was the financial crisis was avoidable. All of the aforementioned aspects will also form basis of the final essay and hence the annotations below will aid critically evaluate each source.
SOURCE – 1
Merola, R. ( 2015). “The Role of Financial Frictions during the Crisis: An Estimated DSGE Model”. Journal of research in Economic Modelling, v. 48, pp. 70-82 This article is written by Rossana Merola. She is PhD candidate in Economics at the Université Catholique de Louvain and with expertise in Econometrics, International …show more content…

“Neglected Risks: The Psychology of Financial Crises”. Journal of Research in American Economic Review, May 2015, v. 105, iss. 5, pp. 310-14
The authors of this journal are a professor, graduates from Bocconi University , Harvard University and University of Chicago. All the authors are economist. The main purpose is to give a different view on financial crisis as it provides a psychological viewpoint. It is useful because the different viewpoints might provide more of a different form of analysis for the financial crisis. This source is ofhigh value to the final essay, as it is up to date with context to the global financial crisis. Therefore can be used in the final …show more content…

M. (2015). “Income and Wealth Inequality after the Financial Crisis: The Case of Germany”. Journal of Research in Empirica v. 42, iss. 2, pp. 371-90
Markus Grabka is a graduate from German Institute for Economic Research, Berlin, with expertise in Microeconomics. The main aim is on the short-term distributional effects in Germany, which had been hit hardest, measured by a decline in GDP, hit by the Recession. (Grabka, M. M. 2015) It is important as it shows how the public were affected by the crisis as it deals with income and wealth. This article is useful as it provides an insight into the after effects of the financial crisis and helping us understand what it really meant. This source is of high value to the final essay, as it is up to date with context to the global financial crisis. (Grabka, M. M. 2015)

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In the Compelling and Historical Pamphlet “The American Crisis No. 1” published in 1776, Thomas Paine passionately motivates and persuades his fellow colonists to join the war and fight for freedom. He attempts to rally and encourage the colonists who were neutral in the war by, describing the war or the courage of the soldiers and his attitude towards the audience which ignites the flames of patriotism and readiness for war in colonists. Thomas Paine goes into detail on multiple occurrences in his pamphlet when talking about the war or when he talks about the bravery of the soldiers. He describes what the soldiers, who are willing to fight for freedom, have gone through. These descriptions attract the audience's emotions, convincing them to

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Chapter 12 deals with financial crises, systemic or nonsystemic, refer to the most recent crisis and how it began. Financial crisis is to a phenomenon in which an economy is characterized by a continuous and significant reduction of economic activity. Through years there have been thousands of crises occurred for various reasons, but if we focus to the one that we experience today we can say that is a result of housing asset bubble. Asset bubble occurs when there is a sudden increase in the value of bond, equities, real estate, etc. In combination with the rapid spread of subprime loans and the transfer of risk from banks' balance sheets to the public and investors through securitization, the crisis resulted in an impact in social and economical

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The Oka Crisis - In 1990, village of Oka, Quebec wanted to expand their golf course into the Mohawk territory, this caused violence between the Quebec police and Mohawk’s, the land was later turned over to the Mohawk’s after 2 months of conflict (pg: 35) - During the Oka crisis, 70% Canadians believed that the government broke the treaty rights of the Aboriginals (pg: 35) - After the Oka crisis, many Canadians sympathized with the Aboriginal people’s struggle and in 1991, Prime Minister Brian Mulroney set up a royal commission (pg:35) - The commission of the Oka crisis summarized that the policy direction followed for more than 150 years has been wrong. Also for Canadians to view Aboriginal people “as nations with a right to govern themselves

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The Crisis Magazine is notoriously known for its influential periodical about race, social justice, and culture. Even today, it is the most meaningful intellectual publication in Black America. Founded by W.E.B. DuBois in 1910 as the house magazine of the NAACP, it intends to provoke curiosity, action, and political stance within the black community. While there are many similarities between the contemporary version of the magazine and the non-contemporary version, there are many differences. From the language of its writers and graphical choices to points of interest and types of articles, the 21st century Crisis magazine varies from its 20th century publications.

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The article points out that monetary policy played a critical role in addressing immediate crises, but it may not be sufficient to address long-term growth issues. The author discusses the vulnerabilities in the financial sector during both crises, as well as the use of state guarantees, recapitalization, and "bad banks" as responses to distressed financial institutions. The article notes the significance of global imbalances in contributing to the origin of both crises and their different unwinding processes. Evaluation: The author's position about the similarities and differences between the Great Depression and the Great Recession is generally compelling. The article effectively presents historical evidence to support the notion that while some lessons from the past can be informative, policymakers must recognize the complexities of the current economic

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Financial Markets and Institutions (8th ed.). Boston, MA: Pearson. Shearer, B. (2007). Subprime Crisis Exposes Risk Predicament (cover story). Money Management Executive, 15 (47).

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1002 Words | 5 Pages

On October 24, 1929, famously known as “Black Thursday” the US stock market crashed as millions of Americans sold their overpriced shares, a record 12,9 million shares were sold only for that record to be smashed again five days later when 16 million shares were sold, and this day is infamously known as “Black Tuesday” (Editors, 2009). This highlights how much the American population trusted the stock market and the banks that some had placed their entire life savings into these shares, which were now worthless. Calomiris & Mason (2003) argue that bank distress in America further exacerbated the economic decline, and it significantly affected the borrowers and economy. They go on to state that it also meant that millions of Americans would be in debt as they had taken loans or credit to purchase these shares (Calomiris & Mason, 2003). Moreover, this stock market crash led to record levels of unemployment, a sharp decline in production, and a fall in prices (Graff, Kenwood & Lougheed,

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221 Words | 1 Pages

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This is a question that many Economists including Leicht ask themselves because of the widening inequality gap and poor wages rates. Leicht, (2014) narrates that corporate profits have been increasingly tremendously; however, wages for workers remains in the same margins as they were before the recession. The effects of the crisis are eminent following the widening social inequality gaps. Harris, (2014) agrees with Leicht, (2014) regarding the issue of social inequality. Harris notes that debt crisis affects a larger population disproportionately especially the poor and men of color “it has pernicious, tenacious consequences.”

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