Macroeconomic Theory and Its Failings

Macroeconomic Theory and Its Failings

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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.Richard Zabel (2008) writes that a#39;by the end of 2007, the CDS market had a notional value of $45 trillion, but the ... This conclusion differs from the suggestion by Milgrom (2008: 130) that making agents liable for disclosure of pertinent information would mitigate the incentive divergence problem. 25. ... By allowing the regulated firm to use CDSs to increase the value ... Carney, John (2009), a#39; How the banks used AIGa#39;s swaps to dodge banking rulesa#39;, The Business Insider: Clusterstock, anbsp;...

Title:Macroeconomic Theory and Its Failings
Author:Steven Kates
Publisher:Edward Elgar Publishing - 2010-01-01


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