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From the heterodox economics perspective, Hyman Minsky wrote about this topic extensively for decades. His mathematical approach might be viewed as behind the times, but his description of the mechanics is quite well respected at this point. Modern authors have been going back to his description, and putting into new mathematical frameworks, but most of that ...


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My favorite, and this is my main area of expertise, so I've read many, is Gary Gorton's Misunderstanding Financial Crises: Why We Don't See Them Coming. It's focused on the history in the United States, but it's a tight historical summary of crises framed in a unifying theory. Relatedly, the Yale Program on Financial Stability's Resource Library is a great ...


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One of my favorites in this dimension is "This Time Is Different" by Reinhart and Rogoff. Both are respected scholars. The title already suggests what they aim at. Covering sixty-six countries across five continents, This Time Is Different presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing ...


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