IDEAS home Printed from https://ideas.repec.org/a/nea/journl/y2015i25p212-217.html
   My bibliography  Save this article

Finance According to Greenspan

Author

Listed:
  • Mirkin, Yu.

    (Institute of World Economy and International Relations, Moscow, Russia)

Abstract

This article discusses the key issues of macroeconomics and finance, raised in a new book by Alan Greenspan "The Map and the Territory: Risk, Human Nature, and the Future of Forecasting" (2013). Firstly, the role of the state in economy, excessiveness of the government interventions, the need to clarify the Greenspan's position, taking into account very special "nature" of the emerging economies, sustainable patterns of collective behavior and long regulatory cycles. Secondly, the limitations to forecast the risk overconcentrations, market failures and crises, according to Greenspan, are discussed. Lastly, the role of the rational / irrational behavior in formation of the macroeconomic dynamics, as well as to what extent the monetary authorities could rely on long-term patterns and forecasting when influencing the economic growth and mitigating the financial risks in macro-space.

Suggested Citation

  • Mirkin, Yu., 2015. "Finance According to Greenspan," Journal of the New Economic Association, New Economic Association, vol. 25(1), pages 212-217.
    • Handle: RePEc:nea:journl:y:2015:i:25:p:212-217
    as

    Download full text from publisher

    File URL: http://www.econorus.org/repec/journl/2015-25-212-217r.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    risk; forecasting; financial markets; role of the state; central bank; behavioral finance; human nature;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • O42 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Monetary Growth Models

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nea:journl:y:2015:i:25:p:212-217. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alexey Tcharykov (email available below). General contact details of provider: https://edirc.repec.org/data/nearuea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.