Six refuted doctrines
AbstractThis article examines six widely-held doctrines concerning economic theory and economic policy that have been refuted, or at least rendered highly problematic by the global financial crisis, namely: (i) the efficient markets hypothesis; (ii) the Great Moderation; (iii) central bank independence; (iv) trickle down; (v) the case for privatization; and (vi) individual retirement accounts. Copyright (c) 2009 The Economic Society of Australia.
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Bibliographic InfoPaper provided by Risk and Sustainable Management Group, University of Queensland in its series Australian Public Policy Program Working Papers with number WPP09_2.
Date of creation: Feb 2009
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Other versions of this item:
- Quiggin, John, 2009. "Six Refuted Doctrines," Risk and Sustainable Management Group Working Papers 151521, University of Queensland, School of Economics.
- G1 - Financial Economics - - General Financial Markets
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- John Quiggin, 1995. "Does Privatisation Pay?," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 28(2), pages 23-42.
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"Mean reversion in stock prices : Evidence and Implications,"
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- Robin Hanson, 2006. "Designing real terrorism futures," Public Choice, Springer, vol. 128(1), pages 257-274, July.
- Simon Grant & John Quiggin, 2003. "Public Investment and the Risk Premium for Equity," Economica, London School of Economics and Political Science, vol. 70(277), pages 1-18, February.
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