Skip to main content
SpringerLink
Log in
Palgrave Macmillan
Book cover

The Influence of Uncertainty in a Changing Financial Environment

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

  • Book
  • © 2017

Overview

Authors:
  1. Ricardo A. Halperin

    1. Retired from the World Bank, USA

    View author publications

    You can also search for this author in PubMed   Google Scholar

  • 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

This is a preview of subscription content, log in via an institution to check access.

Access this book

Log in via an institution
eBook USD 99.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 129.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book USD 129.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access

Licence this eBook for your library

Institutional subscriptions

Table of contents (15 chapters)

  1. Front Matter

    Pages i-xi
    Download chapter PDF

  2. A Failure of Imagination

    • Ricardo A. Halperin
    Pages 1-13

  3. Crisis!

    1. Front Matter

      Pages 15-15
      Download chapter PDF

    2. The Great Recession of 2007–2008

      • Ricardo A. Halperin
      Pages 17-45

    3. Fingers in the Dike

      • Ricardo A. Halperin
      Pages 47-61

  4. The Financial Revolution

    1. Front Matter

      Pages 63-63
      Download chapter PDF

    2. Financial Intermediation and the Economy

      • Ricardo A. Halperin
      Pages 65-88

    3. The Evolution of Financial Intermediation

      • Ricardo A. Halperin
      Pages 89-105

  5. The Evolution of Economic Theory

    1. Front Matter

      Pages 107-107
      Download chapter PDF

    2. Economics Quest for Relevance

      • Ricardo A. Halperin
      Pages 109-150

    3. Theories of Business Fluctuations

      • Ricardo A. Halperin
      Pages 151-166

    4. The Elusive Search for Economic Motives

      • Ricardo A. Halperin
      Pages 167-178

    5. Risk, Uncertainty and Economic Theory

      • Ricardo A. Halperin
      Pages 179-193

  6. Theory Confronts Reality

    1. Front Matter

      Pages 195-195
      Download chapter PDF

    2. The Visible Hand

      • Ricardo A. Halperin
      Pages 197-202

    3. Regulation of the Financial Sector

      • Ricardo A. Halperin
      Pages 203-220

    4. Prudential Regulation

      • Ricardo A. Halperin
      Pages 221-238

  7. Looking Forward

    1. Front Matter

      Pages 239-239
      Download chapter PDF

    2. The Challenges Ahead

      • Ricardo A. Halperin
      Pages 241-253

    3. Economic Policy Options

      • Ricardo A. Halperin
      Pages 255-266
Back to top

Keywords

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.

Authors and Affiliations

  • Retired from the World Bank, USA

    Ricardo A. Halperin

About the author

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.

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: Ricardo A. Halperin

  • DOI: https://doi.org/10.1007/978-3-319-48778-6

  • Publisher: Palgrave Macmillan Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and the Author(s) 2017

  • Hardcover ISBN: 978-3-319-48777-9Published: 06 February 2017

  • Softcover ISBN: 978-3-319-84010-9Published: 13 July 2018

  • eBook ISBN: 978-3-319-48778-6Published: 21 January 2017

  • Edition Number: 1

  • Number of Pages: XI, 287

  • Topics: Financial History, Public Finance, History of Economic Thought/Methodology

Publish with us

Policies and ethics

Back to top

Search

Navigation