The US Financial System and its Crises, 1st ed. 2019
From the 1907 Panic to the 2007 Crash
Palgrave Studies in Economic History Series

Looking at the precedents set by the panic of 1907 and the Great Depression in America, this book investigates the causes of the 2007-2008 financial crisis. Pizzutto examines the effects of monetary policy, as well as of expanding and contracting financial cycles, in order to analyze the breakdown of the money market and capital market circuits. Not only exploring the impact of the Federal Reserve and central banking on monetary policy, he also analyzes the role of non-bank financial intermediaries.

Chapter 1: Introduction.- Chapter 2: The US financial system from the National Banking Act to the crisis of 2007.- Chapter 3: The birth of the Federal reserve and its monetary policy.- Chapter 4: Non bank financial intermediaries and the crisis of 1929.- Chapter 5: The Great Depression.- Chapter 6: The money market after the second world war: securitization and the role of dealers.- Chapter 7: Monetary policy, spread compression and the house market.- Chapter 8: The money market, the collateral market and the crisis of 2007-08.- Chapter 9 Conclusions.

Giorgio Pizzutto is Professor and Head of the Department of Economics, Management and Quantitative Methods at the University of Milan, Italy. 

Uses historical examples to understand financial crises

Compares the Great Recession with the panic of 1907 and the Great Depression

Examines the birth of the Federal Reserve and its aims

Highlights the role of non-bank financial intermiediaries and the crisis of 1929

Investigates the money market after the Second World War