La crise et les perceptions de Ms. Emily (notice n° 1024264)
[ vue normale ]
| 000 -LEADER | |
|---|---|
| fixed length control field | 02805cam a2200265 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250125170428.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Leruth, Luc E. |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | La crise et les perceptions de Ms. Emily |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2010.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 8 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | The paper makes an analogy between the theme and the characters in Faulkner’s short story A Rose for Emily and the current crisis. Essentially, in Faulkner’s story, all the characters deny realities and, in doing so, allow an unstable equilibrium to last longer than it should have (hidden in her home, the respectable Ms. Emily does strange things indeed, including not paying taxes).The paper, after briefly reviewing the literature on perception biases, argues that all economic actors have, to some degree, been refusing to face realities and that has helped the crisis to unfold: Academics, because they want neat models, often at the cost of realism (the paper uses the example of the “representative agent”: individual behaviors cannot always be aggregated); The private sector, because analysts relied excessively on instruments (like the VAR) that were not designed to remain valid in the case of a structural break or because some CEOs created smoke screens (Madoff); The public sector, because, as some observers (e.g. Stiglitz) have argued, there was excessive confidence in economic theory, including in monetarism and in the power of markets to solve everything, even to self-regulate (the paper also quotes a recent piece by Kay in the FT on the fate of the Glass-Steagall Act); The public at large, because, to some extent, it benefitted from the bubble and fed it (thus, it is not only a victim, it is also an actor), while having a tendency to believe blindly the lines it is fed (e.g. by Madoff).The paper (designed to provide some scientific evidence while remaining a pleasant read) concludes that a Faulkner of economics and finance would be most useful since, like the characters in the short story, economic actors often have visions whereas what would be required in these difficult times is someone (like Faulkner) with a vision : not the same thing. Classification JEL : A11, C20, C68, C87, D14, D81, D90, E02, E44, E52, F41, H30 |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | gestion des risques |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | VAR |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | supervision |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | monétarisme |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | perceptions |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | littérature américaine |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | agent représentatif |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | crise et bulles financières |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Nicolas, Pierre J. |
| Relator term | author |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Reflets et perspectives de la vie économique | XLIX | 1 | 2010-04-16 | p. 43-57 | 0034-2971 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/revue-reflets-et-perspectives-de-la-vie-economique-2010-1-page-43?lang=fr&redirect-ssocas=7080">https://shs.cairn.info/revue-reflets-et-perspectives-de-la-vie-economique-2010-1-page-43?lang=fr&redirect-ssocas=7080</a> |
Pas d'exemplaire disponible.
Réseaux sociaux