Kling on Credit Default Swaps, Counterparty Risk, and the Political Economy of Financial Regulation
EconTalk
Robert Shiller talks with host Russ Roberts about the current housing mess and related financial market problems. Shiller argues that the decade-long run up in housing prices was a bubble where speculative fervor outweighed any economic fundamentals. He also discusses the genesis of the Case-Shiller housing price index and his idea for how it might be used to reduce risk in the mortgage market.