Books by Lombard Street Research writers

"To understand the causes of the financial crisis, read this insightful analysis of how globalisation led to our present predicament.

This book will teach you more about why the crisis happened than any blow-by-blow account by an alleged protagonist."

Mervyn King, Governor, Bank of England

Published by Profile Books, July 7th 2010, available now at www.amazon.com

"In China and America: A Time of Reckoning, Charles Dumas lays out what needs to be done now to prevent the still accumulating balances from causing more and probably even worse shocks.

His analysis is bleak. We are in hock to Beijing and therefore our fate is in Chinese hands. If its government reverses policy, allowing a higher yuan and private-sector capital exports, we might just muddle through. If not, and policy continues as it is now, things could become very uncomfortable."

Anthony Hilton, Financial Editor, Evening Standard, 23rd April 2008.

Published by Profile Books (www.profilebooks.com).

available now at www.amazon.com paperback

"In 2005 incoming Fed chairman Ben Bernanke argued that a global savings glut is causing the huge US current account deficits. Charles Dumas recognised this truth long before him. This splendid new book explains how Asia's surpluses are driving US households ever deeper into debt and why this must end in tears." Martin Wolf, Financial Times, January 2006.

"The Bill from the China Shop is important as it is one of the most coherent expressions of a new orthodoxy on the world economy." Daniel Ben-Ami, Fund Strategy, April 2006

"Not a comfortable book ... but one that everyone should take an afternoon to read." Anthony Hilton, Evening Standard, January 2006

Published by Profile Books (www.profilebooks.com).

This new book by Tim Congdon challenges several conventional wisdoms about UK macroeconomic policy and thinking about policy, arguing
for example - that the Keynesians advocacy of incomes policy and fiscal activism in the immediate post-war decades did not have a clear basis in Keynes's own writings. In short, the book contends that monetarism defeated Keynesianism in the battle of ideas in the 1970s and 1980s and that the achievement of greater macroeconomic stability in the last 15 years is largely due to the impact of monetarist thinking on policy-making.

Published by Edward Elgar http://www.e-elgar-economics.com.

Professional investors are bombarded on a day to day basis with assertions about the role liquidity is playing and will play in determining prices in the financial markets. Few, if any, of the providers or recipients of such advice can truly claim to understand the well springs of such liquidity and the transmission mechanisms through which it impacts asset prices.

This groundbreaking new book explores the belief that at the core of liquidity there is a force which exhorts individuals to effect a financial transaction when they would not otherwise do so. Understanding this force of compulsion is a key to understanding a financial market when it appears to be behaving irrationally. This book will enable new and seasoned investors to develop an understanding of the factors, so that costly mistakes can be avoided without the lesson of experience.

"Gordon Pepper is the man who taught the markets that money matters." Neil Collins, Evening Standard, March 2006

Published by Wiley (http://eu.wiley.com/WileyCDA/) in association with the Institute of Economic Affairs.

In this groundbreaking new study, IEA Fellow Tim Congdon argues that movements in the general level of asset prices (such as house prices and equity markets) are strongly influenced by the behaviour of the money supply.

Congdon bases his conclusions on analyses of three episodes in the UK, including the two notorious boom-bust cycles of the early 1970s and late 1980s, as well as the Great Depression in the USA between 1929 and 1933, and the prolonged malaise in the Japanese economy since the early 1990s. The study shows that the level of monetary growth is a key influence on asset price movements. These, in turn, have a powerful effect on incomes and expenditure and inflation.

This monograph is an important contribution to the critical debate on the role of monetary aggregates in setting monetary policy. It is also relevant to those working financial and investment markets who need to understand the causes of booms and busts in asset prices. Congdon's argument, that ignoring monetary aggregates can lead to profound instability in the real economy, is compelling.

Published by the Institute of Economic Affairs (http://www.iea.org.uk/).