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Financial Innovation: Too Much or Too Little?

By Michael Haliassos

Financial Innovation: Too Much or Too Little? Law

Financial Innovation: Too Much or Too Little?

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Description
In assigning blame for the recent economic crisis, many have pointed to the proliferation of new, complex financial products--mortgage securitization in particular--as being at the heart of the meltdown. The prominent economists take a more nuanced view of financial innovation. They argue that it was not too much innovation but too little innovation--and the lack of balance between debt-related products and asset-related products--that lies behind the crisis. The book, which includes two contributions from Robert Shiller as well as a discussion of Shiller?s ?MacroMarkets? tool, considers the key ingredients of financial innovation from both academia and industry; the positive potential but also the risks of financial innovation and the influence of producers on consumers; rationality- and behavioral-based viewpoints on the causes of the recent crisis; the link between the cycle of financial innovation and financial crisis; and how future innovation-linked crises might be avoided.
Product details
Edition:
1
Number of Pages:
252
Release Date:
2012-12-14
Publication Date:
2012-12-14
Publisher:
PAPERBACKSHOP UK IMPORT
Languages:
Original: English
ISBN10:
0262018292
ISBN13:
9780262018296
Weight:
504 g
Height:
161 cm
Width:
235 cm
Thickness:
23 cm
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