Moritz Schularick is professor of economics at Sciences Po in Paris and at the University of Bonn, Germany. He is a fellow of the Institute for New Economic Thinking and has held appointments at New York University and the Federal Reserve Bank of New York.

"[Leveraged] is well worth reading."

• Introduction: The New Economics of Debt and Financial FragilityMoritz SchularickPart 1 Finance Unbound: The Rise of Finance and the Economy1 How to Think about FinanceAtif MianComment by Karen Dynan2 Reconsidering the Costs and Benefits of Debt Booms for the EconomyEmil VernerComment by Holger MuellerPart 2 Risk-Taking: Incentives, Investors, Institutions3 Are Bank CEOs to Blame?Rüdiger FahlenbrachComment by Samuel G. Hanson4 A New Narrative of Investors, Subprime Lending, and the 2008 CrisisStefania AlbanesiComment by Fernando Ferreira5 Bank Capital before and after Financial CrisesÒscar Jordà, Björn Richter, Moritz Schularick, and Alan M. TaylorComment by Anna KovnerPart 3 Mispricing Risks: Credit Booms and Risk Premia6 Beliefs and Risk-TakingAlessia De Stefani and Kaspar ZimmermannComment by Yueran Ma7 A New Approach to Measuring Banks’ Risk ExposureJuliane BegenauComment by Nina Boyarchenko8 Is Risk Mispriced in Credit Booms?Tyler MuirPart 4 Financial Crises: Reconsidering the Origins and Consequences9 Historical Banking Crises: A New Database and a Reassessment of Their Incidence and SeverityMatthew Baron and Daniel DieckelmannComment by Mark Carlson10 Was the U.S. Great Depression a Credit Boom Gone Wrong?Natacha Postel-VinayComment by Eugene N. White11 Sectoral Credit Booms and Financial StabilityKarsten MüllerComment by Orsola CostantiniIndex

Moritz Schularick is professor of economics at Sciences Po in Paris and at the University of Bonn, Germany. He is a fellow of the Institute for New Economic Thinking and has held appointments at New York University and the Federal Reserve Bank of New York.

"[Leveraged] is well worth reading."

• Introduction: The New Economics of Debt and Financial FragilityMoritz SchularickPart 1 Finance Unbound: The Rise of Finance and the Economy1 How to Think about FinanceAtif MianComment by Karen Dynan2 Reconsidering the Costs and Benefits of Debt Booms for the EconomyEmil VernerComment by Holger MuellerPart 2 Risk-Taking: Incentives, Investors, Institutions3 Are Bank CEOs to Blame?Rüdiger FahlenbrachComment by Samuel G. Hanson4 A New Narrative of Investors, Subprime Lending, and the 2008 CrisisStefania AlbanesiComment by Fernando Ferreira5 Bank Capital before and after Financial CrisesÒscar Jordà, Björn Richter, Moritz Schularick, and Alan M. TaylorComment by Anna KovnerPart 3 Mispricing Risks: Credit Booms and Risk Premia6 Beliefs and Risk-TakingAlessia De Stefani and Kaspar ZimmermannComment by Yueran Ma7 A New Approach to Measuring Banks’ Risk ExposureJuliane BegenauComment by Nina Boyarchenko8 Is Risk Mispriced in Credit Booms?Tyler MuirPart 4 Financial Crises: Reconsidering the Origins and Consequences9 Historical Banking Crises: A New Database and a Reassessment of Their Incidence and SeverityMatthew Baron and Daniel DieckelmannComment by Mark Carlson10 Was the U.S. Great Depression a Credit Boom Gone Wrong?Natacha Postel-VinayComment by Eugene N. White11 Sectoral Credit Booms and Financial StabilityKarsten MüllerComment by Orsola CostantiniIndex

Moritz Schularick is professor of economics at Sciences Po in Paris and at the University of Bonn, Germany. He is a fellow of the Institute for New Economic Thinking and has held appointments at New York University and the Federal Reserve Bank of New York.

"[Leveraged] is well worth reading."

• Introduction: The New Economics of Debt and Financial FragilityMoritz SchularickPart 1 Finance Unbound: The Rise of Finance and the Economy1 How to Think about FinanceAtif MianComment by Karen Dynan2 Reconsidering the Costs and Benefits of Debt Booms for the EconomyEmil VernerComment by Holger MuellerPart 2 Risk-Taking: Incentives, Investors, Institutions3 Are Bank CEOs to Blame?Rüdiger FahlenbrachComment by Samuel G. Hanson4 A New Narrative of Investors, Subprime Lending, and the 2008 CrisisStefania AlbanesiComment by Fernando Ferreira5 Bank Capital before and after Financial CrisesÒscar Jordà, Björn Richter, Moritz Schularick, and Alan M. TaylorComment by Anna KovnerPart 3 Mispricing Risks: Credit Booms and Risk Premia6 Beliefs and Risk-TakingAlessia De Stefani and Kaspar ZimmermannComment by Yueran Ma7 A New Approach to Measuring Banks’ Risk ExposureJuliane BegenauComment by Nina Boyarchenko8 Is Risk Mispriced in Credit Booms?Tyler MuirPart 4 Financial Crises: Reconsidering the Origins and Consequences9 Historical Banking Crises: A New Database and a Reassessment of Their Incidence and SeverityMatthew Baron and Daniel DieckelmannComment by Mark Carlson10 Was the U.S. Great Depression a Credit Boom Gone Wrong?Natacha Postel-VinayComment by Eugene N. White11 Sectoral Credit Booms and Financial StabilityKarsten MüllerComment by Orsola CostantiniIndex