BazEkon - Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie

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Autor
Kowalski Tadeusz (Poznań University of Economics, Poland), Shachmurove Yochanan (The City College of New York, USA)
Tytuł
The financial crisis: : what lessons can be learned?
Źródło
Poznań University of Economics Review, 2011, vol. 11, nr 1, s. 48-63, rys., tab., bibliogr. 30 poz.
Słowa kluczowe
Kryzys finansowy, Keynesizm, Teoria racjonalnych oczekiwań, Polityka finansowa, Cykl koniunkturalny
Financial crisis, Keynesian theory, Rational expectations theory, Financial policy, Business cycles
Kraj/Region
Stany Zjednoczone Ameryki
United States of America (USA)
Abstrakt
Many are currently studying the origins of the financial crisis in an attempt to answer two seemingly simple questions: why did it happen, and can another crisis be prevented? Those two questions have proved incredibly divisive. The majority opinion of The United States Financial Crisis Inquiry Commission was submitted with two dissenting positions. Furthermore, The 2010 Economic Report of the United States President does not perfectly align with any opinion presented in that report. Few studies, however, provide proper consideration to the evolution of macroeconomic thought and lengthening of the business cycle preceding the current crisis. (original abstract)
Dostępne w
Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Biblioteka SGH im. Profesora Andrzeja Grodka
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Biblioteka Główna Uniwersytetu Ekonomicznego w Poznaniu
Biblioteka Główna Uniwersytetu Ekonomicznego we Wrocławiu
Pełny tekst
Pokaż
Bibliografia
Pokaż
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  3. Crafts, N., Toniolo, G. (2008), European Economic Growth, 1950-2005. An Overview, CEPR Discussion Papers, no. 6863, C.E.P.R. Discussion Papers.
  4. Economic Report of the President February 2010 (2010), Government Printing Office, Washington, http://www.gpoaccess.gov/eop/2011/pdf/ERP-2011.pdf.
  5. Eichengreen, B. (2007), The Breakup of the Euro Area, NBER Working Paper, no. 13393, http://www.nber.org/papers/w13393.
  6. FCIC Report (2011), http://c0182732.cdn1.cloudfiles.rackspacecloud.com/fcic_final_re-port_full.pdf.
  7. Fischer, S., ed. (1980), Rational Expectations and Economic Policy, University of Chicago Press, Chicago.
  8. Fogli, A., Perri, F. (2006), The Great Moderation and the US External Imbalances, NBER Working Paper, no. 12708.
  9. Gorynia, M., Kowalski, T. (2008), Globalne i krajowe uwarunkowania funkcjonowania polskich przedsiębiorstw [Global and domestic Conditions Affecting the Operation of Business in Poland], Ekonomista, nr 1, p. 51-76.
  10. Hennessey, K., Holtz-Eakin, D., Thomas, B. (2011), Dissenting Statement of Commissioner Keith Hennessey, Commissioner Douglas Hotlz-Eakin, and Vice Chairman Bill Thomas, Financial Inquiry Crisis Commission, http://fcic-static.law.stanford.edu/cdn_media/fcic-reports/fcic_final_report_hennessey_holtz-eakin_thomas_dissent.pdf.
  11. Keynes, J.M. (1936), The General Theory of Employment, Interest and Money, Harcourt, Brace and Company, Cambridge.
  12. Kowalski, T. (1987), Nowa klasyczna makroekonomia a polityka stabilizacji gospodarczej w kapitalizmie [New Classical Economy and The Economic Stabilization Policy in Capitalism], Ruch Prawniczy, Ekonomiczny i Socjologiczny, nr 2, p. 173-187.
  13. Kowalski, T. (2001), Proces formułowania oczekiwań a teoria cyklu wyborczego. Implikacje dla polityki gospodarczej, Wydawnictwo Akademii Ekonomicznej w Poznaniu, Poznań.
  14. Kowalski, T. (2002), The Simonian Bounded Rationality Hypothesis and the Expectation Formation Mechanism, Poznań University of Economics Review, vol. 2, no. 1, p. 5-24.
  15. Kurz, M., Hechui, J., Motolese, M. (2005), Determinants of Stock Market Volatility and Risk Premia, Annals of Finance, no. 1, p. 109-147.
  16. Lucas, R.E., Jr. (1973), Econometric Policy Evaluation: a Critique, in: K. Brunner, A.H. Metzler eds., The Phillips Curve and the Labor Market, Oxford University Press, Amsterdam.
  17. Lucas, R.E., Jr. (1987), Models of Business Cycles, Basil Blackwell, Oxford.
  18. Marglin, S., Schor, J.B. (1990), The Golden Age of Capitalism: Reinterpreting the Postwar Experience, Clarendon Press, Oxford.
  19. Merrouche, O., Nier, E. (2010), What Caused the Global Financial Crisis? - Evidence on the Drivers of Financial Imbalances 1999-2007, IMF Working Paper, no. 10/265, http://www.imf.org/external/pubs/ft/wp/2010/wp10265.pdf.
  20. Muth, J.F. (1961), Rational Expectations and the Theory of Price Movements, Econometrica, July, vol. 29, p. 315-335.
  21. Polowczyk, J. (2010), Elementy ekonomii behawioralnej w dziełach Adama Smitha [Elements of Behavioral Economics in the Work of Adam Smith] [access: January 2011], http://www.janpolowczyk.pl/publikacje/EKONOMISTA_Polowczyk.pdf.
  22. Sargent, T.J. (1986), Rational Expectations and Inflation, Harper and Row, New York.
  23. Sargent, T.J., Wallace, N. (1973), The Stability of Models of Money and Growth with Perfect Foresight, Econometrica (The Econometric Society), no. 41 (6), p. 1043-1048.
  24. Scheinkman, J.A., Xiong, W. (2005), Overconfidence and Speculative Bubbles, Journal of Political Economy, December, p. 1183-1219.
  25. Sheffrin, S.M. (1996), Rational Expectations, 2d ed., Cambridge University Press, Cambridge.
  26. Simon, H.A. (1982), Models of Bounded Rationality, vol. 1 and 2, Economic Analysis and Public Policy, MIT Press, Cambridge, Mass.
  27. US Business Cycle Expansions and Contractions (2010), The National Bureau of Economic Research, 20 September, http://www.nber.org/cycles/.
  28. Wallison, P.J. (2011), Dissenting Statement, Financial Inquiry Crisis Commission, http://fcic-static.law.stanford.edu/cdn_media/fcic-reports/fcic_final_report_wallison_dissent.pdf.
  29. Weitzman, M.L. (2005), A Unified Bayesian Theory of Equity 'Puzzles', Harvard University, http://econ-www.mit.edu/faculty/download_book.php?id=74.
  30. World Economic Outlook (2006).
Cytowane przez
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ISSN
1643-5877
Język
eng
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