Umbau der Finanzmärkte: Übermäßiges Vertrauen in Marktrationalität hält an
| Autor: | Sebastian Dullien |
|---|---|
| Jazyk: | němčina |
| Rok vydání: | 2013 |
| Předmět: |
Macroeconomics
G28 Finanzmarktkrise Kapitalmarktregulierung Irrationality Ansteckungseffekt Wirkungsanalyse Subprime-Hypothek Global financial system Market economy Incentive European integration Economics ddc:330 Business Management and Accounting (miscellaneous) G01 Wirtschaftliche Anpassung Subprime mortgage crisis F30 USA Social policy |
| Popis: | Governments on both sides of the Atlantic have reacted with a raft of new regulations to the US subprime mortgage crisis. The article argues that while these new rules actually touch many of the incentive and information problems which were instrumental in creating the crisis, they only address problems which can be analysed in the traditional neoclassical framework. Issues beyond this paradigm such as underlying market irrationality, bubbles, macroeconomic imbalances or the excessive complexity of the financial system have been left unattended. As these issues played an important role in the genesis of the crisis, new regulations will not suffice to stabilise the global financial system for long. |
| Databáze: | OpenAIRE |
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