Publications

Reforming US Financial Markets
Book
Paid
2011
Reforming U.S. Financial Markets: Reflections Before and Beyond Dodd-Frank

In this remarkably readable and thought-provoking volume, leading economists Randall Kroszner and Robert Shiller provide an excellent roadmap to financial reform after Dodd-Frank. They discuss what actions the United States should take to prevent another financial meltdown since the worst crisis of the 1930s. Their discussion transcends the nuts and bolts of legislative and regulatory fixes to consider fundamental changes in our financial arrangements. Kroszner and Shiller put forward two distinctive approaches to financial reform, with Kroszner yielding a systematic analysis of regulatory gaps and Shiller tackling the greater concerns of democratizing and humanizing finance. Their recommendations make this a timeless must-read for everyone concerned with the efficiency and stability of our financial markets and institutions.

In this extremely readable and thought-provoking volume, two of America's leading financial experts provide an excellent roadmap to financial reform after Dodd-Frank. Their recommendations make this a timeless must-read for everyone concerned with the efficiency and stability of our financial markets and institutions.

Robert E. Litan, Vice President, Research and Policy, The Kauffman Foundation, and Senior Fellow, Economic Studies, The Brookings Institution


Much of the literature on the financial crisis finds economists talking past one another. It is refreshing, therefore, to find some of our leading economists engaging one another, thoughtfully and fully, in this volume. Their fundamental concern is how to ensure that finance serves society rather than the other way around. Their contributions to answering this question should help to point discussions of post-crisis reform in a more productive direction.

Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science, University of California, Berkeley