Theoretical and Applied Economics
No. 3 / 2013 (580)
Liberalisation and regulation in the financial crisis – is behavioural economics a solution?
Alexandru Ioan Cuza University of Iaşi
Paula-Elena DIACON
Alexandru Ioan Cuza University of Iaşi
Gabriel-Andrei DONICI
Alexandru Ioan Cuza University of Iaşi
Abstract. The causes of economic crisis are a subject of intense debate, most opinions of economists ranging from the liberalization of the market to its regulation. We believe that usually there is “sufficient state” and that a change in its level does not have the expected effects. Although on the long term the reduction of the state presence would be preferable, on the medium and short term this would have negative effects, such as the reduction of the number of employees. One solution would be abandoning the simplistic neoclassical economic models, and replacing them with models developed in behavioural economics that would allow state and companies to develop more effective strategies.
Contents
Sustainability of the public debt and the financial crisis
The lending channel and budget balance: empirical evidences from Central and Eastern European economies
Heterogeneous capital and consumption goods in a structurally generalized Uzawa’s model
Differences between the nominal values of the gross domestic product and the provisional and semi-final variant
Forecasting the variance and return of Mexican financial series with symmetric GARCH models
Meanings and spreading patterns of the “positive” concept in economic thought
Implications of the single supervisory mechanism on ECB's functions and on credit institutions' activity
Analysing movements in investor’s risk aversion using the Heston volatility model
The labour market in the post-crisis economy: the case of Spain
Liberalisation and regulation in the financial crisis – is behavioural economics a solution?