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Financial Crisis and Economics

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  • V. TAMBOVTSEV.

Abstract

Treating the money as "under-way-contracts", or "under-executed contracts", the author describes its properties as an economic good. It is shown that the money is a private good with valuable externalities, i.e. a merit good. From this fact the necessity of financial markets state regulation oriented at minimizing negative externalities by restriction of using the most risky contracts is drawn.

Suggested Citation

  • V. Tambovtsev., 2009. "Financial Crisis and Economics," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 1.
  • Handle: RePEc:nos:voprec:2009-01-9
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    References listed on IDEAS

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    1. Daniel J. Benjamin & David I. Laibson, 2003. "Good policies for bad governments: behavioral political economy," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.
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    Cited by:

    1. Martha Starr, 2012. "Contributions of Economists to the Housing-Price Bubble," Journal of Economic Issues, Taylor & Francis Journals, vol. 46(1), pages 143-172.
    2. Xavier Vives, 2014. "Strategic Complementarity, Fragility, and Regulation," Review of Financial Studies, Society for Financial Studies, pages 3547-3592.
    3. David Colander, 2009. "How Economists Got It Wrong: A Nuanced Account," Middlebury College Working Paper Series 0909, Middlebury College, Department of Economics.
    4. Dementiev, V., 2009. "Struggle for Nanotechnological Leadership: the USA, EU, China, Russia," Journal of the New Economic Association, New Economic Association, issue 3-4, pages 123-144.

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