With alarming frequency, modern economies go through macro-financial crashes that arise from the financial sector and spread to the broader economy, inflicting deep and prolonged recessions. A new book co-authored by Markus Brunnermeier, JRCPPF faculty affiliate and director of Princeton's Bendheim Center for Finance, and Ricardo Reis brings together the latest cutting-edge economic research to identify the seeds of these crashes, reveal their triggers and consequences, and explain what policymakers can do about them. With case studies ranging from Chile in the 1970s to the COVID-19 pandemic, A Crash Course on Crises synthesizes a vast literature into ten simple, accessible ideas and illuminates these concepts using novel diagrams and a clear analytical framework.

Read the book’s overview and introduction along with praise by other experts and authors in economics and finance on the A Crash Course on Crises page.