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Umbau der Finanzmärkte: Übermäßiges Vertrauen in Marktrationalität hält an

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  • Sebastian Dullien

Abstract

Governments on both sides of the Atlantic have reacted with a raft of new regulations to the US subprime mortgage crisis. The article argues that while these new rules actually touch many of the incentive and information problems which were instrumental in creating the crisis, they only address problems which can be analysed in the traditional neoclassical framework. Issues beyond this paradigm such as underlying market irrationality, bubbles, macroeconomic imbalances or the excessive complexity of the financial system have been left unattended. As these issues played an important role in the genesis of the crisis, new regulations will not suffice to stabilise the global financial system for long. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2013

Suggested Citation

  • Sebastian Dullien, 2013. "Umbau der Finanzmärkte: Übermäßiges Vertrauen in Marktrationalität hält an," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 93(1), pages 23-29, January.
    • Handle: RePEc:spr:wirtsc:v:93:y:2013:i:1:p:23-29
    DOI: 10.1007/s10273-013-1484-6
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    Citations

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    Cited by:

    1. Daniel Detzer, 2015. "Inequality and the Financial System— The Case of Germany," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 54(4), pages 585-608.
    2. repec:ilo:ilowps:485244 is not listed on IDEAS

    More about this item

    Keywords

    G01; G28; F30;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • F30 - International Economics - - International Finance - - - General

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