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Criza economică – un fenomen previzibil
[The economic crisis - a predictable phenomenon]


  • Asavoaei, Alexandru


The main aim of this paper is to emphasize the fact that the economic crisis are common phenomena. We aim to prove that these phenomena are not so unpredictable and surprising as some economists claim nowadays. We are trying to identify and disclose the pattern of a typical period of economic recession. Hence, we focused our analysis on several of the most significant depressions in the economic history, trying to find the similarities between them, but also to point out their specific elements. The purpose of this paper is to show that the main causes of different crises are, more or less, identical, and therefore such phenomena could and should be anticipated more accurately in the future

Suggested Citation

  • Asavoaei, Alexandru, 2012. "Criza economică – un fenomen previzibil
    [The economic crisis - a predictable phenomenon]
    ," MPRA Paper 40145, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:40145

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    References listed on IDEAS

    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Varieties of Crises and Their Dates," Introductory Chapters,in: This Time Is Different: Eight Centuries of Financial Folly Princeton University Press.
    2. Reinhart, Karmen & Rogoff, Kenneth, 2009. ""This time is different": panorama of eight centuries of financial crises," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 77-114, March.
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    More about this item


    economic crises; recession; speculative bubble; manias; irrational behavior; overconfidence; economic cycle; financial markets;

    JEL classification:

    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles

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