Radical Financial Innovation

Robert J. Shiller ()

No 1461, Cowles Foundation Discussion Papers from Cowles Foundation, Yale University

Abstract: Radical financial innovation is the development of new institutions and methods that permit risk management to be extended far beyond its former realm, covering important new classes of risks. This paper compares past such innovation with potential future innovation, looking at the process that produced past success and the possibilities for future financial innovation.

Keywords: risk management; institutions; incomplete markets; livelihood insurance; behavioral finance; livelihood risks; home equity insurance; country risks (search for similar items in EconPapers)
JEL-codes: G10 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-acc, nep-fin, nep-ino and nep-ure
Date: 2004-04
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Persistent link: http://EconPapers.repec.org/RePEc:cwl:cwldpp:1461

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