Bøger af Mark Carlson

A new history of crisis responses in the central bank's formative years. The long-standing description of the Federal Reserve as a "lender of last resort" refers to the central bank's emergency liquidity provision for financial entities in periods of crisis. As Mark Carlson shows, this function was foundational to how the Fed was designed but has, at times, proven challenging to implement. The Young Fed examines the origins of the Federal Reserve's emergency liquidity provision which, along with the setting of monetary policy, has become a critical responsibility. Focusing on the Fed's response to the financial crises of the 1920s, Carlson documents the formative deliberations of central bank policymakers regarding how to assist banks experiencing distress; the lessons that were learned; and how those lessons shaped subsequent policies. Carlson depicts an early Fed that experimented with a variety of approaches to crises, ranging from bold spectacles featuring cash-filled armored cars to behind-the-scenes interventions to prevent inducing panics or bank runs. The Young Fed weaves previously unpublished material from the Fed archives into a watershed work in American economic history: a deeply sourced account of how the world's most important central bank became a lender of last resort.

The 1987 stock market crash was a major systemic shock. Not only did the prices of many financial assets tumble, but market functioning was severely impaired. This paper reviews the events surrounding the crash and discusses the response of the Federal Reserve, which responded in a number of ways to support the operation of financial markets, including the provision of liquidity, in a highly visible fashion.

It is often argued that branching stabilizes banking systems by facilitating diversification of bank portfolios; however, previous empirical research on the Great Depression offers mixed support for this view. Analyses using state-level data find that states allowing branch banking had lower failure rates, while those examining individual banks find that branch banks were more likely to fail. We argue that an alternative hypothesis can reconcile these seemingly disparate findings. Using data on national banks from the 1920s and 1930s, we show that branch banking increases competition and forces weak banks to exit the banking system. This consolidation strengthens the system as a whole without necessarily strengthening the branch banks themselves. Our empirical results suggest that the effects that branching had on competition were quantitatively more important than geographical diversification for bank stability in the 1920s and 1930s.

War at Sea is a collection of 21 essays and articles on naval warfare from the American Revolution to the end of the Second World War. In this book are some of the most famous, and indeed infamous naval battles in history. The author, a contributor to more than two dozen national magazines, has assembled and expanded on some of his favorite articles that cover the age of fighting sail, the emergence of steam power and the development of steel warships. Here you will find broadsides against wood, rifled guns against iron, the Royal Navy against the German Kriegsmarine, and submarines prowling the Atlantic and Pacific.The desperate carrier battles of Coral Sea, Midway, and Leyte Gulf are vividly described in a narrative style that has made the author a popular writer all over the country.Some of the greatest names in naval history, Admiral Horatio Nelson, commodore Stephen Decatur, Admiral Erich Raeder, and many others fill the pages of War at Sea in a way that not only educates, but entertains any reader interested in the story of naval warfare.From Chesapeake Bay to Jutland, from The River Plate to Guadalcanal, from Hampton Roads to Leyte Gulf, here are the most compelling and memorable accounts of the days of sail and steam, of wood and iron, and of duels to the death on the waters.While navies have long since changed since 1945, it is well worth knowing how it all came to be.

The first clinical manual of evidence-based CBT skills for managing psychological issues associated with chronic pain, drawn from current approaches such as DBT, ACT, and motivational interviewing.

Airplanes and motion pictures were born within a year of one another. In 100 years they have both risen from uncertain infancy through growing adolescence to robust maturity. While Hollywood's actors and directors learned the art of making movies, the aircraft industry and pilots learned how to conquer the sky. In peace and war, prosperity and depression, the airplanes and motion pictures have become a part of American culture. The relationship was symbiotic. While airplane movies helped sell box office tickets, the movies helped promote aviation. In Flying on Film movie fans and aviation buffs can find their common bond. From wooden biplanes to armadas of warplanes, from majestic China Clippers to huge 747s, from slow monoplanes to swift jets, the movies told the story of the airplane. William A. Wellman's 1927 masterpiece Wings was the first of the breed, the standard to be emulated. Flying on Film is the history behind the films. Veterans and aviators from past and present tell the real story of one of the most fascinating genres of motion pictures in Hollywood. About the Author: Mark Carlson is an aviation historian, writer, classic film buff and student of filmmaking. He has written articles for several national aviation magazines and organizations. As a docent and researcher at the San Diego Air & Space Museum and member of many aviation-related organizations, Carlson has gained an insight into the people who lived the world of airplanes and the movies. He and his wife live in San Diego.