War die Finanzkrise vorhersehbar?

Gunther Tichy

Perspektiven der Wirtschaftspolitik, 2010, vol. 11, issue 4, 356-382

Abstract: Abstract: The Queen's question “Why did no one see it coming” provoked professional economists as well. A fierce discussion arose how to modify and improve theory and models. A survey of the literature reveals that almost a hundred analyses warned against the instability of several mechanism, be it bubbles, oversupply of funds, financial innovations, behaviour of financial institutions or regulation. Most observers predicted a recession, nobody a worldwide crisis. The crisis arose as all these mechanisms worked together and produced a surprise. Surprises appear to be the central elements of deep financial crises. Therefore the chances are odd for forecasting.

Date: 2010
References: Add references at CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
https://doi.org/10.1111/j.1468-2516.2010.00344.x

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:perwir:v:11:y:2010:i:4:p:356-382

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=1465-6493

Access Statistics for this article

Perspektiven der Wirtschaftspolitik is currently edited by Lars P. Feld, J¸rgen von Hagen, Bernd Rudolph and Achim Wambach

More articles in Perspektiven der Wirtschaftspolitik from Verein für Socialpolitik Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().