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A Primer on Financial System Meltdown. The Economists' View

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Author Info
Franz R. Hahn

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Abstract

Ideologues are quick to explain the current financial meltdown: it's the markets, stupid. Economists agree but add: it's politics too, stupid. Ideologues agree but counter: first and foremost it's capitalism, stupid. Economists agree but reply: §$%&?!, stupid. This is where this short paper takes us: it makes an attempt to give a brief overview of the economists' views on the ongoing financial system crisis explaining "§$%&?!, stupid".

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Publisher Info
Paper provided by WIFO in its series WIFO Working Papers with number 333.

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Length: 16 pages
Date of creation: 01 Dec 2008
Date of revision:
Handle: RePEc:wfo:wpaper:y:2008:i:333

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Related research
Keywords: financial system crisis; systemic risk; macroeconomic stability; financial regulation;

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References listed on IDEAS
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  1. Raghuram G. Rajan, 2005. "Has Financial Development Made the World Riskier?," Working Papers id:248, esocialsciences.com. [Downloadable!]
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