Macro Markets : Creating Institutions for Managing Society's Largest Economic Risks / Edition 198
  • Macro Markets : Creating Institutions for Managing Society's Largest Economic Risks / Edition 198
  • Macro Markets : Creating Institutions for Managing Society's Largest Economic Risks / Edition 198
  • Macro Markets : Creating Institutions for Managing Society's Largest Economic Risks / Edition 198
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Macro Markets : Creating Institutions for Managing Society's Largest Economic Risks / Edition 198

by Robert J. Shiller
     
 

ISBN-10: 0198294182

ISBN-13: 9780198294184

Pub. Date: 06/25/1998

Publisher: Oxford University Press

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

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Overview

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.

Product Details

ISBN-13:
9780198294184
Publisher:
Oxford University Press
Publication date:
06/25/1998
Series:
Clarendon Lectures in Economics Series
Edition description:
New Edition
Pages:
272
Product dimensions:
8.30(w) x 5.40(h) x 0.50(d)
Lexile:
1530L (what's this?)

Table of Contents

1. Introduction
2. Psychological Barriers
3. Mechanisms for Hedging Long Streams of Income
4. National Income and Labour Income Markets
5. Real Estate and Other Markets
6. The Construction of Index Numbers for Contract Settlement
7. Index Numbers: Issues and Alternatives
8. The Problem of Index Revisions
9. Making It Happen
Notes
References
Author Index
Subject Index

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