After the flood : how the Great Recession changed economic thought /
Edward L. Glaeser, Tano Santos, and E. Glen Weyl [editors.
- Chicago : The University of Chicago Press, (c)2017.
- 1 online resource.
Includes papers presented at a conference held at the Columbia Business School in the spring of 2013 in honor of José Scheinkman's 65th birthday.
Includes bibliographies and index.
Introduction / Stochastic compounding and uncertain valuation / The good banker / How to implement contingent capital / Bankruptcy laws and collateral regulation: reflections after the crisis / Antes del Diluvio: the Spanish banking system in the first decade of the euro / Are commodity futures prices barometers of the global economy? / Social learning, credulous Bayesians, and aggregation reversals / Finance and the common good / Edward L. Glaeser, Tano Santos, and E. Glen Weyl -- Lars Peter Hansen and José A. Scheinkman -- Patrick Bolton -- Albert S. Kyle -- Aloisio Araujo, Rafael Ferreira, and Bruno Funchal -- Tano Santos -- Conghui Hu and Wei Xiong -- Edward L. Glaeser and Bruce Sacerdote -- E. Glen Weyl.
The past three decades have been characterized by vast change and crises in global financial markets and not in politically unstable countries but in the heart of the developed world, from the Great Recession in the United States to the banking crises in Japan and the Eurozone. As we try to make sense of what caused these crises and how we might reduce risk factors and prevent recurrence, the fields of finance and economics have also seen vast change, as scholars and researchers have advanced their thinking to better respond to the recent crises. A momentous collection of the best recent scholarship, "After the Flood" illustrates both the scope of the crises' impact on our understanding of global financial markets and the innovative processes whereby scholars have adapted their research to gain a greater understanding of them. Among the contributors are Jose Scheinkman and Lars Peter Hansen, who bring up to date decades of collaborative research on the mechanisms that tie financial markets to the broader economy; Patrick Bolton, who argues that limiting bankers' pay may be more effective than limiting the activities they can undertake; Edward Glaeser and Bruce Sacerdote, who study the social dynamics of markets; and E. Glen Weyl, who argues that economists are influenced by the incentives their consulting opportunities create.
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Financial crises--Congresses. Financial crises--Prevention--Congresses. Banks and banking--Congresses. Capital assets pricing model--Congresses.