An Historical Perspective on the Crisis of 2007-2008

24 Pages Posted: 29 Dec 2008 Last revised: 31 Dec 2008

See all articles by Michael D. Bordo

Michael D. Bordo

Rutgers University, New Brunswick - Department of Economics; National Bureau of Economic Research (NBER)

Date Written: December 2008

Abstract

This paper provides an historical perspective on the crisis of 2007-2008. The crisis is part of a perennial pattern. It has echoes in earlier big international financial crises which were triggered by events in the U.S. financial system. Examples include the crises of 1857, 1893 1907 and 1929-33. This crisis has many similarities to those of the past but also some important modern twists.

Suggested Citation

Bordo, Michael D., An Historical Perspective on the Crisis of 2007-2008 (December 2008). NBER Working Paper No. w14569. Available at SSRN: https://ssrn.com/abstract=1320795

Michael D. Bordo (Contact Author)

Rutgers University, New Brunswick - Department of Economics ( email )

New Brunswick, NJ
United States

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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