Crisis Cycle
Challenges, Evolution, and Future of the Euro
$69.54
- Hardcover
328 pages
- Release Date
23 September 2025
Summary
How the euro survived a series of crises, and how to make it more resilient
The euro has survived crises unimagined at its founding: the financial meltdown of 2007–2009, the sovereign debt crisis of 2010–2012, the pandemic, and the Russian invasion of Ukraine. The European Central Bank fought these crises with dramatic policy innovations, buying up vast amounts of debt and providing large loans to banks. But now everyone expects the ECB to intervene routinely, and the…
Book Details
| ISBN-13: | 9780691271606 |
|---|---|
| ISBN-10: | 0691271607 |
| Author: | John H. Cochrane, Luis Garicano, Klaus Masuch |
| Publisher: | Princeton University Press |
| Imprint: | Princeton University Press |
| Format: | Hardcover |
| Number of Pages: | 328 |
| Release Date: | 23 September 2025 |
| Weight: | 612g |
| Dimensions: | 156mm x 235mm |
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Critics Review
“A Financial Times Best Economics Book of the Summer”
“The book ought to be read by anyone with an interest in, or an influence on, the future development of the economic and monetary framework of the European Union.”—Niels Buenemann, Central Banking
“An excellent discussion and analysis of the euro and its future.” * Choice *
“This book tackles one of the most pressing and perennial questions facing the European Union: can the euro survive in its current form, and if not, what needs to change? … For anyone concerned about the future of European integration, this represents an important contribution to the ongoing debate on the Euro.”—Max Magnacca, Society of Professional Economists
“Crisis Cycle provides economists, policymakers and engaged citizens with the most rigorous and readable account of the euro’s structural predicament to date. It is indispensable for scholars of European political economy, monetary theory and institutional design, and highly relevant to anyone seeking to understand why the future of the single currency remains, a quarter-century after its creation, genuinely uncertain.”—Luciano Magaldi Sardella, LSE Review of Books
John H. Cochrane
John H. Cochrane is the Rose Marie and Jack Anderson Senior Fellow of the Hoover Institution at Stanford University. He is the author of The Fiscal Theory of the Price Level and Asset Pricing (both Princeton).
Luis Garicano is professor of public policy at the London School of Economics. He served as a member of the European Parliament from 2019 to 2022.
Klaus Masuch has worked at the European Central Bank from the start of the euro, first as head of the Monetary Policy Strategy Division from 2000 to 2006, then as head of the EU Countries Division from 2007 to 2013, and as principal adviser since 2014.
(All views are the authors’ and are not endorsed by their employers or affiliated institutions.)
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