Jump to ContentJump to Main Navigation
Macro Markets – Creating Institutions for Managing Society's Largest Economic Risks - Oxford Scholarship Online
Users without a subscription are not able to see the full content.

Macro Markets: Creating Institutions for Managing Society's Largest Economic Risks

Robert J. Shiller


This book, which is part of the distinguished Clarendon Lectures in Economics series, puts forward a unique and authoritative set of detailed proposals for establishing new markets for the management of the biggest economic risks facing governments and society. Robert Shiller argues that we have largely the wrong financial markets, and that establishing new ones may fundamentally alter and diminish international economic fluctuations (and thus enable better risk management) and reduce the inequality of incomes. Shiller argues that although some risks, such as natural disaster or temporary unem ... More

Keywords: cash settlement of risk management contracts, claims on national incomes, commercial property markets, contracts, economic fluctuations, economic risks, financial markets, futures markets, hedging, index numbers, individual risk, inequality of incomes, international economic fluctuations, international markets, liquid international markets, macro markets, national incomes, perpetual claims, property markets, residential property markets, risk management, risk management contracts, risk sharing, stock market significance, stock markets

Bibliographic Information

Print publication date: 1998 Print ISBN-13: 9780198294184
Published to Oxford Scholarship Online: November 2003 DOI:10.1093/0198294182.001.0001


Affiliations are at time of print publication.

Robert J. Shiller, author
Stanley B. Resor Professor of Economics
Author Webpage