Has Financial Development Made the World Riskier?

Rajan, R. (2005). Has Financial Development Made the World Riskier?. Proceedings of the Jackson Hole Economic Policy Symposium.

Type

Report

Intellectual base

Grey literature

Year

2005

DOI

10.3386/w11728

Link

https://doi.org/10.3386/w11728

Cited from

economics_finance

Cited by

2 citations across 2 artifacts.

Each citation links to the sentence it supports in the citing article.

Primes

• Black Swan (High-Impact, Low-Probability Events)
  • … Uncertainty) have argued that the 2008 crisis was not a genuine black swan because substantial prior warning signals existed: Shiller's Irrational Exuberance* (2000, 2005); the BIS warnings about global imbalances and credit growth (2003-2007); Rajan's 2005 Jackson Hole paper warning of financial-system fragility

    This sourceCited inline (tier B) in the GFC example as a pre-crisis warning signal; verified and linked.

Domain-specific

• Taleb Distribution
  • Asymmetric compensation. A manager receives annual performance fees on gains but does not repay them after a later blowup, encouraging hidden negatively skewed exposure.

Verification

This reference passed the adversarial substantiation pipeline: it was checked to exist and to support the claim it is attached to. See how references were verified.

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