Bernanke's Test: Ben Bernanke, Alan Greenspan, and the Drama of the Central Banker - Softcover

Van Overtveldt, Johan

Softcover

ISBN 10: 1932841512 ISBN 13: 9781932841510

Publisher: Agate B2, 2010

Synopsis

The succession of crises facing the U.S. economy in 2008 and 2009 have thrown a bright spotlight on Federal Reserve chairman Ben Bernanke. Each of his moves to address the disastrous economic conditions are reported and analyzed at length in the press as he works to mitigate the effects of the sub-prime lending debacle and resulting credit crisis. Bernanke is undergoing a stern test as America's central banker a test created for him, in large part, by his predecessor, Alan Greenspan. This new paperback edition of Bernanke’s Test is completely updated with events through the end of 2009. As such, it's among the most valuable and up-to-the-minute works on Bernanke's career as Fed chair published to date, making it an essential look at the central figure shaping the recovery of the U.S. and world economies.

About this title

About the Author

Johan Van Overtveldt, PhD, is the director of the Belgium-based think tank VKW Metena, which works on a breadth of economics-related issues. Formerly editor-in-chief of the Belgian news magazine Trends, he has written several books in Dutch, and contributes to the Wall Street Journal Europe and other publications. He is the author of The Chicago School: How the University of Chicago Assembled the Thinkers Who Revolutionized Economics and Business.

From School Library Journal

Starred Review. In this study of the Alan Greenspan and Ben Bernanke Federal Reserve eras, Overtveldt (director, VKW Metena, Belgium) provides insight into the current financial crisis. He says that Greenspan was generally successful in keeping the economy vibrant and ameliorating financial shocks but that his use of low interest rates and his opposition to financial regulation fostered the growth of the housing and credit bubble. In 2007 the bubble burst, becoming first a liquidity and then a solvency crisis that could lead not simply to a severe recession but to a depression. Overtveldt examines Bernanke's life and economic thinking, especially on the Great Depression, to show he was equipped for this crisis. Though he admits that it is too early to predict success, he praises Bernanke's early recognition of the crisis, his interest-rate cuts, the innovative ways he injected liquidity into the system, and his push for greater transparency and regulation. Overtveldt's serious examination of how we got into this mess and what the Federal Reserve can do to get us out brings clarity to this period of financial chaos. Highly recommended for all interested readers, many of whom will have liked Mark Zandi's Financial Shock.—Lawrence Maxted, Gannon Univ., Erie, PA
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About this edition

• Publisher: Agate B2
• Publication date: 2010
• ISBN 10: 1932841512
• ISBN 13: 9781932841510
• Binding: Paperback
• Edition number: 1
• Number of pages: 300