The Subprime Solution (eBook)

How Today's Global Financial Crisis Happened, and What to Do about It

Robert J. Shiller (Autor)

eBook Download: PDF | EPUB

2012
224 Seiten
Princeton University Press (Verlag)
978-1-4008-4499-9 (ISBN)

Infos

Robert J. Shiller is the best-selling author of Irrational Exuberance and The New Financial Order (both Princeton), among other books. He is the Arthur M. Okun Professor of Economics at Yale University.

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An essential account of the historic subprime mortgage crisis, from the Nobel Prize-winning economist and bestselling author of Irrational ExuberanceThe subprime mortgage crisis has already wreaked havoc on the lives of millions of people and now it threatens to derail the U.S. economy and economies around the world. In this trenchant book, best-selling economist Robert Shiller reveals the origins of this crisis and puts forward bold measures to solve it. He calls for an aggressive response-a restructuring of the institutional foundations of the financial system that will not only allow people once again to buy and sell homes with confidence, but will create the conditions for greater prosperity in America and throughout the deeply interconnected world economy.Shiller blames the subprime crisis on the irrational exuberance that drove the economy's two most recent bubbles-in stocks in the 1990s and in housing between 2000 and 2007. He shows how these bubbles led to the dangerous overextension of credit now resulting in foreclosures, bankruptcies, and write-offs, as well as a global credit crunch. To restore confidence in the markets, Shiller argues, bailouts are needed in the short run. But he insists that these bailouts must be targeted at low-income victims of subprime deals. In the longer term, the subprime solution will require leaders to revamp the financial framework by deploying an ambitious package of initiatives to inhibit the formation of bubbles and limit risks, including better financial information; simplified legal contracts and regulations; expanded markets for managing risks; home equity insurance policies; income-linked home loans; and new measures to protect consumers against hidden inflationary effects.This powerful book is essential reading for anyone who wants to understand how we got into the subprime mess-and how we can get out.

Produkt-Details

• Erscheint lt. Verlag: 24.9.2012
• Zusatzinfo: 4 line illus.
• Verlagsort: Princeton
• Sprache: englisch
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Rechnungswesen / Bilanzen
• Themenwelt: Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Bankbetriebslehre
• Themenwelt: Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Immobilienwirtschaft
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
• Schlagworte: Ability to pay • Adjustable-rate mortgage • American Recovery and Reinvestment Act of 2009 • Appraisal Institute • Arthur Levitt • asset • Bailout • bank run • Bankruptcy • Bear Stearns • Behavioral Economics • Ben Bernanke • bonus army • Brokerage firm • Central Bank • consumer • Consumer Protection • Council of Economic Advisers • credit card • Credit Crunch • Creditor • Credit score in the United States • Currency • Customer • debt • Default (finance) • Democratization • deposit insurance • disaster • Distressed Borrower • Diversification (marketing strategy) • Economic bubble • Economic Growth • Economic indicator • economic interventionism • economic problem • Economics • Economic Stimulus Act of 2008 • Economic unit • economist • economy • Employment • energy crisis • Expense • Externality • Fannie Mae • Federal Deposit Insurance Corporation • Federal Housing Administration • Finance • financial adviser • Financial Crisis • Financial crisis of 2007–08 • Financial innovation • Financial institution • financial plan • Financial Services • Financial Technology • Fixed-rate mortgage • foreclosure • Freddie Mac • Futures exchange • Government Debt • Gross Domestic Product • Hedge Fund • Home Equity • Home Owners' Loan Corporation • Homer Hoyt • Household • Hyman Minsky • Incentive • income • indexation • Inflation • Insolvency • Institution • institutional investor • insurance • insurance policy • Interest Rate • Investment • Investor • Irrational Exuberance • John Maynard Keynes • Liberalization • Limited Liability Company • Livelihood • Long run and short run • market liquidity • Market Maker • Marshall Plan • Master Liquidity Enhancement Conduit • mathematical finance • Microfinance • monetary policy • Money illusion • Money market fund • Moral Hazard • mortgage loan • National Association of Personal Financial Advisors • National Association of Realtors • overtrading • Panic selling • Paperback • Payment • Poverty • Price index • printing • private sector • Put Option • Real estate appraisal • real estate bubble • real estate economics • Real versus nominal value (economics) • Rebate (marketing) • Recession • Reconstruction Finance Corporation • repayment • Risk Management • Robert J. Shiller • Scarcity • Scarcity value • Securitization • shortage • Speculation • Stagflation • Stock Market • Stock market bubble • Structured investment vehicle • Subprime Borrower • Subsidy • Supply (economics) • systemic risk • Tax • Taxpayer • Technology • Term auction facility • The Economic Consequences of the Peace • The Wealth of Nations • tulip mania • Unemployment • Unemployment benefits • welfare
• ISBN-10: 1-4008-4499-1 / 1400844991
• ISBN-13: 978-1-4008-4499-9 / 9781400844999