Reforming U.S. Financial Markets: Reflections Before and Beyond Dodd-Frank (Reforming U.S. Financial Markets) (Alvin Hansen Symposium on Public Policy at Harvard University)

by Randall S. Kroszner and Robert J. Shiller

Benjamin M. Friedman (Editor), Robert J. Shiller, Randall S. Kroszner, George G. Kaufman, Robert C. Pozen, and Hal S. Scott

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Two top economists outline distinctive approaches to post-crisis financial reform.

Over the last few years, the financial sector has experienced its worst crisis since the 1930s. The collapse of major firms, the decline in asset values, the interruption of credit flows, the loss of confidence in firms and credit market instruments, the intervention by governments and central banks: all were extraordinary in scale and scope. In this book, leading economists Randall Kroszner and Robert Shiller discuss what the United States should do to prevent another such financial meltdown. Their discussion goes beyond the nuts and bolts of legislative and regulatory fixes to consider fundamental changes in our financial arrangements.

Kroszner and Shiller offer two distinctive approaches to financial reform, with Kroszner providing a systematic analysis of regulatory gaps and Shiller addressing the broader concerns of democratizing and humanizing finance. After brief discussions by four commentators (Benjamin M. Friedman, George G. Kaufman, Robert C. Pozen, and Hal S. Scott), Kroszner and Shiller each offer a response to the other's proposals, creating a fruitful dialogue between two major figures in the field.

  • ISBN10 0262015455
  • ISBN13 9780262015455
  • Publish Date 1 March 2011 (first published 1 January 2011)
  • Publish Status Transferred
  • Publish Country US
  • Publisher MIT Press Ltd
  • Imprint MIT Press