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"Bernanke is the master of applied microeconomics. Not only is he technically proficient but his ability to place his results in a larger macroeconomic context is unparalleled."--Mark Toma, Financial History Review
"[H]aving devoted much of his career to studying the causes of the Great Depression, Bernanke was the academic expert on how to prevent financial crises from spinning out of control and threatening the general economy. One line from his Essays on the Great Depression sounds especially prescient today: 'To the extent that bank panics interfere with normal flows of credit, they may affect the performance of the real economy.'"--Roger Lowenstein, New York Times Magazine
"Mr. Bernanke certainly knows the importance of well-functioning markets. In Essays on the Great Depression he wrote persuasively that runs on the banks and extensive defaults on loans reduced the efficiency of the financial sector, prevented it from doing its normal job in allocating resources, and contributed to the Depression severity. The Depression-era problems he studied are mirrored by similar issues today, and they need urgent attention."--Robert J. Shiller, New York Times
"Fortunately, before he became entangled in these restrictions [Bernanke] did edit and help write a book, Essays on the Great Depression. . . . Mr. Bernanke's motive was that understanding the depression would provide important clues to what can go wrong with capitalist market systems."--Samuel Brittan, Financial Times
"The financial crisis has made Federal Reserve Chairman Ben Bernanke's book Essays on the Great Depression a hot seller. . . . Bernanke, a former Princeton University economist, is considered the pre-eminent living scholar of the Great Depression. He is practicing today what he preached in his book: Flood the system with money to avoid a depression."--Dennis Cauchon, USA Today
"When Ben Bernanke arrived at the Federal Reserve in February 2006 as the new chairman of the central bank, he had a copy of his 2001 book, Inflation Targeting: Lessons from the International Experience, tucked under his arm. Not literally, of course. He was hoping to convince his colleagues on the Federal Open Market Committee of the value of an explicit inflation target. Little did he know that less than two years later he'd be shelving Inflation Targeting and turning to Essays on the Great Depression, another of his books, for guidance. In his book of essays, Bernanke calls the Great Depression the 'Holy Grail of macroeconomics.' He writes that 'the experience of the 1930s continues to influence macroeconomists' beliefs, policy recommendations, and research agendas.'"--Caroline Baum, Bloomberg.com
"With some observers saying that the ongoing financial crisis could be the worst since the Great Depression, the greatest living expert on that period is getting the chance to apply its economic lessons. . . . In Essays on the Great Depression . . . [Bernanke] notes that understanding that period is the 'holy grail of macroeconomics.'"--Spencer Jakab, Dow Jones Newswires
"This influential body of work is a significant contribution to our understanding the depth and persistence of the Great Depression.... This book will become a standard reference in the field of business cycle research."--Randall Kroszner, University of Chicago
"Bernanke's work has had a powerful impact on the economics profession, alerting macroeconomists to the advantages of historical analysis, and a number of important figures (James Hamilton, Steve Cecchetti, for example), inspired by his work, have followed him into the field. The nine essays form a remarkably coherent whole."--Barry Eichengreen, University of California, Berkeley, and author of Globalizing Capital: A History of the International Monetary System
"Collecting these essays together will provide a single source for students to find Bernanke's substantial contributions.... His papers demonstrate conclusively that the international view of the great depression has impressive explanatory power."--Peter Temin, Massachusetts Institute of Technology --This text refers to an out of print or unavailable edition of this title.See all Editorial Reviews
Bernanke's approach was quite technical. As a non economist, the essays were not an easy read and I pretty much gave up on them about 1/4 of the way through the book.Published 3 months ago by Kevin McGrath
Everyone needs to get a book like this to understand our economic state and how it got to where it is now.Published 22 months ago by Catherine
The text is an excellent collection of essays presenting Bernanke's views on what caused the Great Depression of 1929 and forward. Read morePublished on August 8, 2012 by stanley goldstein
I have a hard time finding historical information on the culture and humanity involved with the great depression; most books only care about where the economy/money was at the... Read morePublished on April 24, 2012 by Ellen Marlow
Unemployment today November 19, 2011 is TWENTY-THREE PERCENT. The BLS should be called the BS department of Labor Statistics. Read morePublished on November 19, 2011 by Davos
This book is a wonderful exercise in counting trees but missing the forest.
I should state out front that I do not believe that complex systems subject to stochastic... Read more
This review is intended to focus on special aspects of the book in greater detail. For a general review of the book, please see Jerry H. Read morePublished on January 6, 2011 by James R. Maclean