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The financial crisis and its effects: Perspectives from economics and psychology

Author

Listed:
  • Greenglass, Esther
  • Antonides, Gerrit
  • Christandl, Fabian
  • Foster, Gigi
  • Katter, Joana K.Q.
  • Kaufman, Bruce E.
  • Lea, Stephen E.G.

Abstract

The recent financial crisis has affected most countries. With cutbacks in business, trade and government spending, millions world-wide have lost their jobs, with young people disproportionately affected. This paper synthesizes the thoughts expressed during an interdisciplinary discussion held in July 2013 among economists and psychologists from a variety of countries about the causes and effects of the financial crisis. Strategies for dealing with the effects of the financial crisis are discussed at both the individual and national levels.

Suggested Citation

  • Greenglass, Esther & Antonides, Gerrit & Christandl, Fabian & Foster, Gigi & Katter, Joana K.Q. & Kaufman, Bruce E. & Lea, Stephen E.G., 2014. "The financial crisis and its effects: Perspectives from economics and psychology," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 50(C), pages 10-12.
    • Handle: RePEc:eee:soceco:v:50:y:2014:i:c:p:10-12
    DOI: 10.1016/j.socec.2014.01.004
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    References listed on IDEAS

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    1. Tversky, Amos & Kahneman, Daniel, 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
    2. Peter Waring & John Lewer, 2013. "The global financial crisis, employment relations and the labour market in Singapore and Australia," Asia Pacific Business Review, Taylor & Francis Journals, vol. 19(2), pages 217-229, April.
    3. Marjanovic, Zdravko & Greenglass, Esther R. & Fiksenbaum, Lisa & Bell, Chris M., 2013. "Psychometric evaluation of the Financial Threat Scale (FTS) in the context of the great recession," Journal of Economic Psychology, Elsevier, vol. 36(C), pages 1-10.
    4. Bruce E. Kaufman, 2012. "Wage Theory, New Deal Labor Policy, and the Great Depression: Were Government and Unions to Blame?," ILR Review, Cornell University, ILR School, vol. 65(3), pages 501-532, July.
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    Cited by:

    1. Lucio Esposito, 2014. "Introduction," Economics and Business Letters, Oviedo University Press, vol. 3(3), pages 134-136.
    2. Alfaro Navarro, José-Luis & Andrés Martínez, María-Encarnación & Trinquecoste, Jean-François, 2015. "The effect of the economic crisis on the behaviour of airline ticket prices. A case-study analysis of the New York–Madrid route," Journal of Air Transport Management, Elsevier, vol. 47(C), pages 48-53.

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