| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23156 |
| 来源ID | Working Paper 23156 |
| The End of Alchemy: A Review Essay | |
| Roger E.A. Farmer | |
| 发表日期 | 2017-02-13 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | I review The End of Alchemy by Mervyn King, published by W.W. Norton and Company in 2016. I discuss King's proposed regulatory reform, the ‘Pawn Broker for All Seasons’ (PFAS) and I compare it to an alternative solution developed in my own work. I argue that unregulated trade in the financial markets will not, in general, lead to Pareto optimal allocations. As a consequence, solutions like the PFAS that correct problems with existing institutions are likely to be circumvented by the development of new ones. |
| 主题 | Macroeconomics |
| URL | https://www.nber.org/papers/w23156 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/580830 |
| 推荐引用方式 GB/T 7714 | Roger E.A. Farmer. The End of Alchemy: A Review Essay. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23156.pdf（365KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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