Macro Markets : Creating Institutions for Managing Society's Largest Economic Risks
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| Title: | Macro Markets : Creating Institutions for Managing Society's Largest Economic Risks |
|---|---|
| Description: | Macro Markets puts forward a unique and authoritative set of detailed proposals for establishing new markets for the management of the biggest economic risks facing society. Our existing financial markets are seen as being inadequate in dealing with such risks and Professor Shiller suggests major new markets as solutions to the problem. Shiller argues that although some risks, such as natural disaster or temporary unemployment, are shared by society, most risks are borne by the individual and standards of living determined by luck. He investigates whether a new technology of markets could make risk-sharing possible, and shows how new contracts could be designed to hedge all manner of risks to the individual's living standards. He proposes new international markets for perpetual claims on national incomes, and on components and aggregates of national incomes, concluding that these markets may well dwarf our stock markets in their activity and significance. He also argues for new liquid international markets for residential and commercial property. Establishing such unprecedented new markets presents some important technical problems which Shiller attempts to solve with proposals for implementing futures markets on perpetual claims on incomes, and for the construction of index numbers for cash settlement of risk management contracts. These new markets could fundamentally alter and diminish international economic fluctuations, and reduce the inequality of incomes around the world. |
| Authors: | Robert J. Shiller |
| Resource Type: | eBook. |
| Subjects: | Markets, Stock exchanges, Risk |
| Categories: | BUSINESS & ECONOMICS / Finance / General |
| Database: | eBook Collection (EBSCOhost) |
| FullText | Links: – Type: ebook-pdf – Type: ebook-epub Text: Availability: 0 |
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| Items | – Name: Title Label: Title Group: Ti Data: Macro Markets : Creating Institutions for Managing Society's Largest Economic Risks – Name: Abstract Label: Description Group: Ab Data: Macro Markets puts forward a unique and authoritative set of detailed proposals for establishing new markets for the management of the biggest economic risks facing society. Our existing financial markets are seen as being inadequate in dealing with such risks and Professor Shiller suggests major new markets as solutions to the problem. Shiller argues that although some risks, such as natural disaster or temporary unemployment, are shared by society, most risks are borne by the individual and standards of living determined by luck. He investigates whether a new technology of markets could make risk-sharing possible, and shows how new contracts could be designed to hedge all manner of risks to the individual's living standards. He proposes new international markets for perpetual claims on national incomes, and on components and aggregates of national incomes, concluding that these markets may well dwarf our stock markets in their activity and significance. He also argues for new liquid international markets for residential and commercial property. Establishing such unprecedented new markets presents some important technical problems which Shiller attempts to solve with proposals for implementing futures markets on perpetual claims on incomes, and for the construction of index numbers for cash settlement of risk management contracts. These new markets could fundamentally alter and diminish international economic fluctuations, and reduce the inequality of incomes around the world. – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Robert+J%2E+Shiller%22">Robert J. Shiller</searchLink> – Name: TypePub Label: Resource Type Group: TypPub Data: eBook. – Name: Subject Label: Subjects Group: Su Data: <searchLink fieldCode="DE" term="%22Markets%22">Markets</searchLink><br /><searchLink fieldCode="DE" term="%22Stock+exchanges%22">Stock exchanges</searchLink><br /><searchLink fieldCode="DE" term="%22Risk%22">Risk</searchLink> – Name: SubjectBISAC Label: Categories Group: Su Data: <searchLink fieldCode="ZK" term="%22BUSINESS+%26+ECONOMICS+%2F+Finance+%2F+General%22">BUSINESS & ECONOMICS / Finance / General</searchLink> |
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| RecordInfo | BibRecord: BibEntity: Classifications: – Code: 332.042 Scheme: ddc Type: prePub Languages: – Code: eng Text: English Subjects: – SubjectFull: Markets Type: general – SubjectFull: Stock exchanges Type: general – SubjectFull: Risk Type: general Titles: – TitleFull: Macro Markets : Creating Institutions for Managing Society's Largest Economic Risks Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Robert J. Shiller – PersonEntity: Name: NameFull: Robert J. Shiller IsPartOfRelationships: – BibEntity: Dates: – D: 01 M: 01 Type: published Y: 2007 – D: 04 M: 11 Type: profile Y: 2016 Identifiers: – Type: isbn-print Value: 9780191027291 – Type: isbn-print Value: 9780198294184 – Type: isbn-electronic Value: 9780191521652 Titles: – TitleFull: Macro Markets : Creating Institutions for Managing Society's Largest Economic Risks Type: main |
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