The evolving risks of the 21st century and their effective management

Robert J. Shiller

Journal of Policy Modeling, 2022, vol. 44, issue 4, 741-747

Abstract: Risk management institutions can be reinvented in the 21st century in response to the changing nature of economic uncertainties and changing information technology. The COVID-19 pandemic and its effects on the economy provide an example of new kinds of uncertainties to be managed. National and international contracts should manage risks to claims on better-defined economic aggregates and prices of factors of human capital to make for better economic measurements and better risk management opportunities. The failures of international management of the COVID-19 pandemic, including failure to control the spread of misinformation, provide lessons for such new financial arrangements

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jpolmo:v:44:y:2022:i:4:p:741-747

DOI: 10.1016/j.jpolmod.2022.02.001

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