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A Primer on Financial System Meltdown. The Economists' View

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  • Franz R. Hahn

Abstract

Ideologues are quick to explain the current financial meltdown: it's the markets, stupid. Economists agree but add: it's politics too, stupid. Ideologues agree but counter: first and foremost it's capitalism, stupid. Economists agree but reply: §$%&?!, stupid. This is where this short paper takes us: it makes an attempt to give a brief overview of the economists' views on the ongoing financial system crisis explaining "§$%&?!, stupid".

Suggested Citation

  • Franz R. Hahn, 2008. "A Primer on Financial System Meltdown. The Economists' View," WIFO Working Papers 333, WIFO.
    • Handle: RePEc:wfo:wpaper:y:2008:i:333
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    File URL: https://www.wifo.ac.at/wwa/pubid/34540
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    References listed on IDEAS

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    1. Raghuram G. Rajan, 2005. "Has financial development made the world riskier?," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, issue Aug, pages 313-369.
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    Cited by:

    1. Costa Cabral, Nazare, 2010. "Breve guia temático e bibliográfico sobre o estudo da actual crise financeira e económica [Short thematic guide to the study of current financial and economic crisis]," MPRA Paper 20743, University Library of Munich, Germany.
    2. Sandra Bilek-Steindl, 2012. "On the Change in the Austrian Business Cycle," OECD Journal: Journal of Business Cycle Measurement and Analysis, OECD Publishing, Centre for International Research on Economic Tendency Surveys, vol. 2012(1), pages 1-18.

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    More about this item

    Keywords

    financial system crisis; systemic risk; macroeconomic stability; financial regulation;
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