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Incentive Divergence and the Global Financial Crisis

In: Macroeconomic Theory and its Failings

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  • J. Patrick Gunning

Abstract

This innovative book focuses on the current global financial crisis and the inadequacies of the economic theories being used to guide policy. In so doing, it tackles the economic theories that have been used firstly to understand its causes and thereafter to contain the damage it has brought.

Suggested Citation

  • J. Patrick Gunning, 2010. "Incentive Divergence and the Global Financial Crisis," Chapters,in: Macroeconomic Theory and its Failings, chapter 5 Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:13728_5
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    References listed on IDEAS

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    1. Roger B. Myerson, 2008. "Perspectives on Mechanism Design in Economic Theory," American Economic Review, American Economic Association, vol. 98(3), pages 586-603, June.
    2. George J. Stigler, 1971. "The Theory of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 3-21, Spring.
    3. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Is the 2007 U.S. Sub-Prime Financial Crisis So Different? An International Historical Comparison," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 56(3), pages 291-299, September.
    4. Christopher Mayer & Karen Pence & Shane M. Sherlund, 2009. "The Rise in Mortgage Defaults," Journal of Economic Perspectives, American Economic Association, vol. 23(1), pages 27-50, Winter.
    5. P. Milgrom., 2009. "What the Seller Won’t Tell You: Persuasion and Disclosure in Markets," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 3.
    6. Eric S. Maskin, 2008. "Mechanism Design: How to Implement Social Goals," American Economic Review, American Economic Association, vol. 98(3), pages 567-576, June.
    7. Ignacio Esponda, 2008. "Behavioral Equilibrium in Economies with Adverse Selection," American Economic Review, American Economic Association, vol. 98(4), pages 1269-1291, September.
    8. Oliver Jones, 1962. "The Development Of An Effective Secondary Mortgage Market," Journal of Finance, American Finance Association, vol. 17(2), pages 358-370, May.
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    More about this item

    Keywords

    Economics and Finance;

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