There have been many business cycles in the US over the past 50 years (although less so since the great moderation). Many of us youngsters are too young to remember many of these.

Is there some summary article / plot containing these, including their causes? For example:

  • 1990: Gulf war, drop in oil supply
  • 2000: crash of internet related stocks
  • 2008: crash of mortgages/housing market in the US, amplified through banking sector
  • 1
    $\begingroup$ Not every recession is a crisis. Are you more interested in the crises or the business cycle? For the latter, the NBER recession dates (nber.org/cycles.html) might be a good place to start. $\endgroup$
    – BKay
    Mar 23 '15 at 11:20
  • $\begingroup$ Decent starting points: lmgtfy.com/?q=list+of+recessions&l=1 lmgtfy.com/?q=list+of+economic+crises&l=1 $\endgroup$ Mar 23 '15 at 18:38
  • $\begingroup$ you should define what you mean by 'crises'; also, I guess you should select a 'school of economic thought' to use as frame of reference; what constitutes a crisis and considered by whom as to provide appropriate causes for its appearance; $\endgroup$
    – user14471
    Sep 10 '17 at 20:39

Manias, Panics, and Crashes

by Charles Kindleberger

(Full book pdf)

An easier reading compared to Reinhart and Rogoff. It informally explains how crises occur and presents some famous examples.


This Time Is Different

by Reinhart and Rogoff

Detailed, structured, and comprehensive. A brief paper by the same authors on the same topic: This Time is Different: A Panoramic View of Eight Centuries of Financial Crises. The paper's abstract:

This paper offers a "panoramic" analysis of the history of financial crises dating from England's fourteenth-century default to the current United States sub-prime financial crisis. Our study is based on a new dataset that spans all regions. It incorporates a number of important credit episodes seldom covered in the literature, including for example, defaults and restructurings in India and China. [...] We find that serial default is a nearly universal phenomenon as countries struggle to transform themselves from emerging markets to advanced economies. Major default episodes are typically spaced some years (or decades) apart, creating an illusion that "this time is different" among policymakers and investors. [...] We also confirm that crises frequently emanate from the financial centers with transmission through interest rate shocks and commodity price collapses. [...] Our data also documents other crises that often accompany default: including inflation, exchange rate crashes, banking crises, and currency debasements.


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