Macro Markets
Creating Institutions for Managing Society's Largest Economic Risks
Robert J. Shiller
Reviews and Awards
Winner of the First Paul A. Samuelson Award, TIAA-CREF 1996!
"[A] terrific book....Fresh, provocative, well written, and well argued. [Recommended] not only to financial and macro-economists, but to the larger economic community interested in the character and costs of business cycles."--Journal of Economic Literature
"The book, unique in its approach...offers an unusual combination of passionate advocacy with precise theoretical reasoning....This excellent book does more than provide a good treatment of some self-contained and specialized questions. It is also likely to initiate a research program. For what Shiller has done is to imagine a sometimes surprising and unfamiliar world in which risk-hedging and risk-spreading markets, while not necessarily complete, are at least a great deal more complete than they are at present."--The Economic Journal
"A brilliant new book that I highly recommend."--Peter L. Bernstein, Journal of Portfolio Management
"Fresh, provocative, well written, and well argued. I recommend it not only to financial and macro-economists, but to the larger economic community interested in the character and costs of business cycles."--Journal of Economic Literature