Franz R. Hahn
A Primer on Financial System Meltdown. The Economists' View
WIFO Working Papers, 2008, (333), 16 Seiten
Ideologues are quick to explain the current financial meltdown: it's the markets, stupid. Economists agree but add: it's politics too, stupid. Ideologues agree but counter: first and foremost it's capitalism, stupid. Economists agree but reply: §$%&?!, stupid. This is where this short paper takes us: it makes an attempt to give a brief overview of the economists' views on the ongoing financial system crisis explaining "§$%&?!, stupid".
Keywords:financial system crisis, systemic risk, macroeconomic stability, financial regulation
Forschungsbereich:Makroökonomie und öffentliche Finanzen
Sprache:Englisch