IDEAS home Printed from https://ideas.repec.org/p/lap/wpaper/100.html
   My bibliography  Save this paper

Rules and Enforcement - 2

Author

Listed:
  • Horacio Piffano

Abstract

This note is a new version of the one already released this year making a conceptual analysis of what the author developed in detail in his 2012 paper dealing with crises and economic models. It re-emphasizes the need to introduce into the discussion the question of the moral behavior of economic agents and the institutional designs that define the scenario of their actions. It attempts an explanation why ergodic theory poses limitations to possible predictions, while insisting on the need for the introduction of formal regulation rules in financial markets and fiscal and monetary rules for governments. Finally suggests that the trade off between free market and regulation, faces a serious dilemma, due to existing of an incomplete financial market with strong managing information asymmetries between those who manage funds in financial entities and citizens who deposited these funds in those entities, but at the same time, regulation will also faces an imperfect market, perhaps the most imperfect of all markets, which is the agency contract between representatives and citizens.

Suggested Citation

  • Horacio Piffano, 2013. "Rules and Enforcement - 2," Department of Economics, Working Papers 100, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata.
  • Handle: RePEc:lap:wpaper:100
    as

    Download full text from publisher

    File URL: https://www.depeco.econo.unlp.edu.ar/wp/wp-content/uploads/2017/05/doc100.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Horacio Piffano, 2012. "El Reto de Edmund Phelps: Las Crisis y los Modelos Económicos," Department of Economics, Working Papers 094, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.

      More about this item

      Keywords

      Economic models; crises; institutions; policies; regulations;
      All these keywords.

      JEL classification:

      • G2 - Financial Economics - - Financial Institutions and Services
      • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
      • K2 - Law and Economics - - Regulation and Business Law

      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:lap:wpaper:100. 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.

      If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Diego Fernandez Felices (email available below). General contact details of provider: https://edirc.repec.org/data/funlpar.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.