×

Uh-oh, it looks like your Internet Explorer is out of date.

For a better shopping experience, please upgrade now.

Reforming U.S. Financial Markets: Reflections Before and Beyond Dodd-Frank
     

Reforming U.S. Financial Markets: Reflections Before and Beyond Dodd-Frank

by Randall S. Kroszner, Robert J. Shiller, Benjamin M. Friedman
 

ISBN-10: 0262015455

ISBN-13: 9780262015455

Pub. Date: 01/28/2011

Publisher: MIT Press

Over the last few years, the financial sector has experienced its worst crisis since the 1930s. The collapse of major firms, the decline in asset values, the interruption of credit flows, the loss of confidence in firms and credit market instruments, the intervention by governments and central banks: all were extraordinary in scale and scope. In this book,

Overview

Over the last few years, the financial sector has experienced its worst crisis since the 1930s. The collapse of major firms, the decline in asset values, the interruption of credit flows, the loss of confidence in firms and credit market instruments, the intervention by governments and central banks: all were extraordinary in scale and scope. In this book, leading economists Randall Kroszner and Robert Shiller discuss what the United States should do to prevent another such financial meltdown. Their discussion goes beyond the nuts and bolts of legislative and regulatory fixes to consider fundamental changes in our financial arrangements.

Kroszner and Shiller offer two distinctive approaches to financial reform, with Kroszner providing a systematic analysis of regulatory gaps and Shiller addressing the broader concerns of democratizing and humanizing finance. Kroszner focuses on key areas for reform, including credit rating agencies and the mortgage securitization market. Shiller argues that reform must serve to make the full power of financial theory work for everyone—bringing the technology of finance to bear on managing risk, for example—and should acknowledge the reality of human nature. After brief discussions by four commentators, Kroszner and Shiller each offer a response to the other’s proposals, creating a fruitful dialogue between two major figures in the field.

Product Details

ISBN-13:
9780262015455
Publisher:
MIT Press
Publication date:
01/28/2011
Series:
Alvin Hansen Symposium on Public Policy at Harvard University Series
Pages:
176
Product dimensions:
5.60(w) x 8.10(h) x 0.70(d)
Age Range:
18 Years

Table of Contents

Introduction Benjamin M. Friedman ix

1 Democratizing and Humanizing Finance Robert J. Shiller 1

2 Making Markets More Robust Randall S. Kroszner 51

3 Comments Benjamin M. Friedman George G. Kaufman Robert C. Pozen Hal S. Scott 85

4 Responses Robert J. Shiller Randall S. Kroszner 119

5 Rejoinder Robert J. Shiller 131

Contributors 133

Index 135

Customer Reviews

Average Review:

Post to your social network

     

Most Helpful Customer Reviews

See all customer reviews