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The Influence of Uncertainty in a Changing Financial Environment

An Inquiry into the Root Causes of the Great Recession of 2007-2008

Authors: Halperin, Ricardo A.

  • Argues that the changing financial sector has made the economy more vulnerable to risk perceptions
  • Steps right into important political controversies of our time
  • Proposes strengthened regulation and supervision of all financial intermediaries
  • Suggests policies to reduce risk exposure for households, firms, and financial intermediaries
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eBook $99.00
price for USA (gross)
  • ISBN 978-3-319-48778-6
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $129.00
price for USA
  • ISBN 978-3-319-48777-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

This book examines the role of uncertainty on financial decisions - and, consequently, on financial markets - in the buildup to and aftermath of the Great Recession. It tracks the significant growth and important structural changes in the financial sector during the past few decades, both of which made the economy more vulnerable to perceptions of risk in the markets. Halperin argues that conventional economic models have lost relevance by failing to take these developments into account appropriately, and also explains that because of financial globalization we can no longer understand what happens in the economies of major countries by relying on "closed-economy" thinking. The book concludes with a list of policy recommendations designed to increase the resilience of the financial markets to negative economic developments and to reduce incentives for risk taking, including a proposal to eliminate the double taxation of dividends.

About the authors

Ricardo A. Halperin taught macroeconomics and monetary theory at the University of Buenos Aires, Argentina, and advised Argentina's Minister of Economy, Secretary to the Treasury, and National Development Bank before joining the World Bank, where he held various management positions. He is currently retired.

Table of contents (15 chapters)

  • A Failure of Imagination

    Halperin, Ricardo A.

    Pages 1-13

  • The Great Recession of 2007–2008

    Halperin, Ricardo A.

    Pages 17-45

  • Fingers in the Dike

    Halperin, Ricardo A.

    Pages 47-61

  • Financial Intermediation and the Economy

    Halperin, Ricardo A.

    Pages 65-88

  • The Evolution of Financial Intermediation

    Halperin, Ricardo A.

    Pages 89-105

Buy this book

eBook $99.00
price for USA (gross)
  • ISBN 978-3-319-48778-6
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $129.00
price for USA
  • ISBN 978-3-319-48777-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
The Influence of Uncertainty in a Changing Financial Environment
Book Subtitle
An Inquiry into the Root Causes of the Great Recession of 2007-2008
Authors
Copyright
2017
Publisher
Palgrave Macmillan
Copyright Holder
The Editor(s) (if applicable) and the Author(s)
eBook ISBN
978-3-319-48778-6
DOI
10.1007/978-3-319-48778-6
Hardcover ISBN
978-3-319-48777-9
Edition Number
1
Number of Pages
XI, 287
Topics