The Subprime Solution

PDF EBook by Robert J. Shiller

EBook Description

This little book went to press in 2008, but before the whole financial system almost completely melted down. The Subprime Solution PDF EBookAfter Bear Stearns but before Lehman, AIG, the election of Obama, and the Hank Paulson/Bush administration bailout of Wall Street.Thus the "Global Financial Crisis" mentioned in the title is not completely or adequately explained.The words "credit default swap" do not appear.Shiller (the Arthur Okun Professor of Economics at Yale) concentrates on the housing bubble and the mass psychology behind it.

His solutions include: adopting an inflation- PDFindexed unit of measurement, like the unidad de fomento used in Chile, to help consumers understand that dollars are not constant; download; more widespread use of a liquid market in real estate futures (he believes that derivative markets have the potential to tame speculative real estate bubbles); the issuance of government debt indexed to a nation's GDP; continuous-workout mortgages, that would adjust monthly based on the homeowner's changing ability to pay and changing conditions in the housing market; home equity insurance; and livelihood insurance, which can be seen as a more modern and effective version of unemployment insurance. Like this book? Read online this: Private Real Estate Markets and Investments, Be the Solution.

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