Who Listened? Unappreciated Teachings of New Institutional Economics Related to the Financial Crisis 2008

Artikel

Who Listened? Unappreciated Teachings of New Institutional Economics Related to the Financial Crisis of 2008 Who was listening before the Financial Crisis of 2008 to Arrow's warnings and the teachings of Coase? Due to transaction costs, incomplete foresight and bounded rationality not all risks that would be desirable to shift can be shifted through the market. Financial firms and other institutions take on part of the burden. To expand the frontier of risk trading requires institutional answers – in particular new forms of credible commitments. Improvements in information technology alone do not do the trick. (JEL D40, E40, E44, G 20, G21, G28, G29)

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Kredit und Kapital ; ISSN: 1865-5734 ; Volume: 42 ; Year: 2009 ; Issue: 4 ; Pages: 473-485

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Market Structure, Pricing, and Design: General ; Money and Interest Rates: General ; Financial Markets and the Macroeconomy ; Financial Institutions and Services: General ; Banks; Depository Institutions; Micro Finance Institutions; Mortgages ; Financial Institutions and Services: Government Policy and Regulation ; Financial Institutions and Services: Other

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Richter, Rudolf
• Ereignis: Veröffentlichung
• (wer): Duncker & Humblot
• (wo): Berlin
• (wann): 2009

Weitere Informationen

• DOI: doi:10.3790/kuk.42.4.473
• Letzte Aktualisierung: 10.03.2025, 11:45 MEZ