Some Aspects of the Economic Crisis

Horst Todt ()
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Horst Todt: University of Hamburg, Germany

The AMFITEATRU ECONOMIC journal, 2009, vol. 11, issue Number Special 3, 667-674

Abstract: The article comments on some aspects of the present economic crisis. The role of bonuses in a system with principal-agent relationship is discussed. Several other features like the responsibility of rating institutes are considered. A main point is to question our knowledge about the crisis. New developments in economics take soft factors into account. These factors and the fact that at most "bounded rationality" guides human action throw some doubt on ready-to-hand judgments.

Keywords: economic crisis; mortgages; international banking system (search for similar items in EconPapers)
JEL-codes: L81 M3 M31 (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:aes:amfeco:v:11:y:2009:i:number_special_3:p:667-674

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