How Long to Read Macroeconomics and Financial Crises

How Long Does it Take to Read Macroeconomics and Financial Crises?

It takes the average reader 3 hours and 36 minutes to read Macroeconomics and Financial Crises by Gary B. Gorton

Assuming a reading speed of 250 words per minute. Learn more

Description

How financial crises are inherent features of macroeconomic dynamics There are no bigger disruptions in the functioning of economies than financial crises. Yet prior to the crash of 2007–2008, macroeconomics incorporated financial crises simply as bad shocks, like earthquakes, failing to consider them as an intrinsic phenomenon of the evolution of macroeconomic variables, such as credit, investment, and productivity. Macroeconomics and Financial Crises rethinks how technological change, credit booms, and endogenous information production combine to generate financial crises as inherent and recurrent reactions to macroeconomic dynamics. Gary Gorton and Guillermo Ordoñez identify short-term debt, collateral, and information as common elements that are present in all financial crises. Short-term debt is a critical element for storing value over short periods without fear of loss, but there needs to be collateral backing the debt. Critically, the collateral should be such that no agent wants to produce information about its quality. The debt backed by such collateral is information-insensitive. Gorton and Ordoñez argue that, during a credit boom, as more and more firms get loans, the economy reaches a tipping point where information production becomes too tempting, disrupting short-term debt and cutting most firms out of the credit market. Showing how a financial crisis is an information event triggered by the dynamics of macroeconomic variables, Macroeconomics and Financial Crises provides new perspectives on the intricate relations between macroeconomics and financial crises.

How long is Macroeconomics and Financial Crises?

Macroeconomics and Financial Crises by Gary B. Gorton is 209 pages long, and a total of 54,131 words.

This makes it 71% the length of the average book. It also has 66% more words than the average book.

How Long Does it Take to Read Macroeconomics and Financial Crises Aloud?

The average oral reading speed is 183 words per minute. This means it takes 4 hours and 55 minutes to read Macroeconomics and Financial Crises aloud.

What Reading Level is Macroeconomics and Financial Crises?

Macroeconomics and Financial Crises is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Macroeconomics and Financial Crises?

Macroeconomics and Financial Crises by Gary B. Gorton is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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