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Getting it Wrong: How Faulty Monetary Statistics Undermine the Fed, the Financial System, and the Economy by William A. Barnett (Paperback, 2011)

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A leading economist contends that the recent financial crisis was caused not by the failure of mainstream economics but by corrupted monetary data constructed without reference to economics. Blame for the recent financial crisis and subsequent recession has commonly been assigned to everyone from Wall Street firms to individual homeowners. It has been widely argued that the crisis and recession were caused by greed and the failure of mainstream economics. In Getting It Wrong, leading economist William Barnett argues instead that there was too little use of the relevant economics, especially from the literature on economic measurement. Barnett contends that as financial instruments became more complex, the simple-sum monetary aggregation formulas used by central banks, including the U.S. Federal Reserve, became obsolete. Instead, a major increase in public availability of best-practice data was needed. Households, firms, and governments, lacking the requisite information, incorrectly assessed systemic risk and significantly increased their leverage and risk-taking activities. Better financial data, Barnett argues, could have signaled the misperceptions and prevented the erroneous systemic-risk assessments. When extensive, best-practice information is not available from the central bank, increased regulation can constrain the adverse consequences of ill-informed decisions. Instead, there was deregulation. The result, Barnett argues, was a worst-case toxic mix: increasing complexity of financial instruments, inadequate and poor-quality data, and declining regulation. Following his accessible narrative of the deep causes of the crisis and the long history of private and public errors, Barnett provides technical appendixes, containing the mathematical analysis supporting his arguments.

Product Identifiers

Publisher
MIT Press Ltd
ISBN-13
9780262516884
eBay Product ID (ePID)
111521062

Product Key Features

Author
William A. Barnett
Publication Name
Getting it Wrong: How Faulty Monetary Statistics Undermine the Fed, the Financial System, and the Economy
Format
Paperback
Language
English
Subject
Economics, Finance
Publication Year
2011
Type
Textbook
Number of Pages
360 Pages

Dimensions

Item Height
229mm
Item Width
152mm
Item Weight
499g

Additional Product Features

Title_Author
William A. Barnett
Series Title
The MIT Press
Country/Region of Manufacture
United States

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Getting it Wrong: How Faulty Monetary Statistics Undermine the Fed, the Financial System, and the Economy by William A. Barnett (Paperback, 2011)

About this product

Product Information

Product Identifiers

Product Key Features

Dimensions

Additional Product Features

Best Selling in Adult Learning & University

Eduqas GCSE (9-1) Religious Studies Route B: Catholic Christianity and Judaism by Deirdre Cleary, Andrew Barron, Joy White, Patrick Harrison (Paperback, 2017)

Polyvagal Exercises for Safety and Connection: 50 Client-Centered Practices by Deb Dana (Paperback, 2020)

Save on Adult Learning & University

Netter Atlas of Human Anatomy: Classic Regional Approach

Michael Nehls The Indoctrinated Brain (Hardback) (US IMPORT)

Bill Perkins Die With Zero (Paperback)

Havard's Nursing Guide to Drugs

The Fourth Turning By Neil Howe, William Strauss

Steven Holzner Physics Essentials For Dummies (Paperback)

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