Binding: Paperback
Dewey Decimal Number: 630
EAN: 9780198294184
ISBN: 0198294182
Label: Oxford University Press, USA
Manufacturer: Oxford University Press, USA
Number Of Items: 1
Number Of Pages: 272
Publication Date: June 25, 1998
Publisher: Oxford University Press, USA
Sales Rank: 1065086
Studio: Oxford University Press, USA

---

Related Items:

• The New Financial Order: Risk in the 21st Century
• Irrational Exuberance
• The Subprime Solution: How Today's Global Financial Crisis Happened, and What to Do about It
• Market Volatility
• Understanding Financial Crises (Clarendon Lectures in Finance)
• see more

---

Editorial Review:

Product Description:
Arguing that we have largely inadequate financial markets, dealing with relatively small risks, Robert Shiller makes a unique set of proposals for marketizing the biggest economic risks faced by society today, risks that really matter to most people. The new markets could diminish the impact of international economic fluctuations and reduce the inequality of wealth. He proposes new international markets for claims on national incomes, on components and aggregates of national incomes, and for property such as real estate, and argues that these markets might dwarf our stock markets in their activity and significance. He challenges the widespread presumption that any such new market would be infeasible, by offering solutions to technical problems of measurement and settlement. There are proposals for implementing markets in perpetual claims and a substantial section on the construction of index numbers for use in settlement in the new markets.




Rating: - Great in theory...but we need a futures market for it to work properly
This is a very practical nuts-and-bolts "How to save the economic world". Macro institutions are neccessary to avoid various prisoner dilemma decision issues.

The UN, World Bank, IMF and a few others attempt to carry this mantle, and they do not really execute, and for the same reason - national interest always overides collective interests.

With regards to environmental issues, Shiller's proposals in this text would be quite good at addressing the current conflicts that ... Read More

---

Browse for similar items by category:

• Economics - Business & Investing - Subjects - Books - Macroeconomics
• Popular Economics - Business & Investing - Subjects - Books - General
• Popular Economics - Business & Investing - Subjects - Books - General AAS
• Finance - Accounting & Finance - Professional & Technical - Subjects - Books - General
• Finance - Accounting & Finance - Professional & Technical - Subjects - Books - General AAS