{"title":"Robert J. Shiller","description":"\u003cp\u003eRobert J. Shiller’s works offer insightful exploration into the complexities of financial markets and economic behaviour. Through titles like \u003cem\u003eIrrational Exuberance\u003c\/em\u003e and \u003cem\u003eAnimal Spirits\u003c\/em\u003e, he unravels the psychological and social factors driving market dynamics, challenging conventional economic theories.\u003c\/p\u003e\n\n\u003cp\u003eReaders will find a thoughtful blend of rigorous analysis and accessible narrative in his writings, covering topics such as market volatility, the subprime crisis, and innovative approaches to finance. Shiller’s collection is essential for anyone seeking a deeper understanding of modern economics and investment strategies.\u003c\/p\u003e","products":[{"product_id":"irrational-exuberance-by-robert-j-shiller-9780691173122","title":"Irrational Exuberance","description":"\u003cdiv class=\"book-description\"\u003e\n\u003cp\u003eIn this revised, updated, and expanded edition of his \u003cem\u003eNew York Times\u003c\/em\u003e bestseller, Nobel Prize-winning economist Robert Shiller, who warned of both the tech and housing bubbles, cautions that signs of irrational exuberance among investors have only increased since the 2008-09 financial crisis.\u003c\/p\u003e\n\n\u003cp\u003eWith high stock and bond prices and the rising cost of housing, the post-subprime boom may well turn out to be another illustration of Shiller's influential argument that psychologically driven volatility is an inherent characteristic of all asset markets. In other words, \u003cem\u003eIrrational Exuberance\u003c\/em\u003e is as relevant as ever.\u003c\/p\u003e\n\n\u003cp\u003ePrevious editions covered the stock and housing markets—and famously predicted their crashes. This edition expands its coverage to include the bond market, so that the book now addresses all of the major investment markets. It also includes updated data throughout, as well as Shiller's 2013 Nobel Prize lecture, which places the book in broader context.\u003c\/p\u003e\n\n\u003cp\u003eIn addition to diagnosing the causes of asset bubbles, \u003cem\u003eIrrational Exuberance\u003c\/em\u003e recommends urgent policy changes to lessen their likelihood and severity—and suggests ways that individuals can decrease their risk before the next bubble bursts. No one whose future depends on a retirement account, a house, or other investments can afford not to read this book.\u003c\/p\u003e\n\u003c\/div\u003e","brand":"Alliance Distribution Services Pty Ltd","offers":[{"title":"Default Title","offer_id":45907287769324,"sku":"9780691173122","price":58.0,"currency_code":"NZD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0705\/7784\/8556\/files\/9780691173122.jpg?v=1731708964"},{"product_id":"the-new-financial-order-by-robert-j-shiller-9780691120119","title":"The New Financial Order","description":"\u003cdiv class=\"book-description\"\u003e\n\u003cp\u003eIn his best-selling \u003cem\u003eIrrational Exuberance\u003c\/em\u003e, Robert Shiller cautioned that society's obsession with the stock market was fuelling the volatility that has since made a roller coaster of the financial system. Less noted was Shiller's admonition that our infatuation with the stock market distracts us from more durable economic prospects. These lie in the hidden potential of real assets, such as income from our livelihoods and homes. But these \"ordinary riches,\" so fundamental to our well-being, are increasingly exposed to the pervasive risks of a rapidly changing global economy.\u003c\/p\u003e\n\n\u003cp\u003eThis compelling and important new book presents a fresh vision for hedging risk and securing our economic future. Shiller describes six fundamental ideas for using modern information technology and advanced financial theory to temper basic risks that have been ignored by risk management institutions—risks to the value of our jobs and our homes, to the vitality of our communities, and to the very stability of national economies.\u003c\/p\u003e\n\n\u003cp\u003eInformed by a comprehensive risk information database, this new financial order would include global markets for trading risks and exploiting myriad new financial opportunities, from inequality insurance to intergenerational social security. Just as developments in insuring risks to life, health, and catastrophe have given us a quality of life unimaginable a century ago, so Shiller's plan for securing crucial assets promises to substantially enrich our condition.\u003c\/p\u003e\n\n\u003cp\u003eOnce again providing an enormous service, Shiller gives us a powerful means to convert our ordinary riches into a level of economic security, equity, and growth never before seen. And once again, what Robert Shiller says should be read and heeded by anyone with a stake in the economy.\u003c\/p\u003e\n\u003c\/div\u003e","brand":"NewSouth Books","offers":[{"title":"Default Title","offer_id":46481723228396,"sku":"9780691120119","price":124.0,"currency_code":"NZD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0705\/7784\/8556\/files\/1188333482434.jpg?v=1748214475"},{"product_id":"the-subprime-solution-by-robert-j-shiller-9780691156323","title":"The Subprime Solution","description":"\u003cdiv class=\"book-description\"\u003e\n\u003cp\u003eThe subprime mortgage crisis has already wreaked havoc on the lives of millions of people and now it threatens to derail the U.S. economy and economies around the world. In this trenchant book, best-selling economist Robert Shiller reveals the origins of this crisis and puts forward bold measures to solve it.\u003c\/p\u003e\n\n\u003cp\u003eHe calls for an aggressive response—a restructuring of the institutional foundations of the financial system that will not only allow people once again to buy and sell homes with confidence, but will create the conditions for greater prosperity in America and throughout the deeply interconnected world economy.\u003c\/p\u003e\n\n\u003cp\u003eShiller blames the subprime crisis on the irrational exuberance that drove the economy's two most recent bubbles—in stocks in the 1990s and in housing between 2000 and 2007. He shows how these bubbles led to the dangerous overextension of credit now resulting in foreclosures, bankruptcies, and write-offs, as well as a global credit crunch.\u003c\/p\u003e\n\n\u003cp\u003eTo restore confidence in the markets, Shiller argues, bailouts are needed in the short run. But he insists that these bailouts must be targeted at low-income victims of subprime deals.\u003c\/p\u003e\n\n\u003cp\u003eIn the longer term, \u003cem\u003eThe Subprime Solution\u003c\/em\u003e will require leaders to revamp the financial framework by deploying an ambitious package of initiatives to inhibit the formation of bubbles and limit risks. These include better financial information; simplified legal contracts and regulations; expanded markets for managing risks; home equity insurance policies; income-linked home loans; and new measures to protect consumers against hidden inflationary effects.\u003c\/p\u003e\n\n\u003cp\u003eThis powerful book is essential reading for anyone who wants to understand how we got into the subprime mess—and how we can get out.\u003c\/p\u003e\n\n\u003cp\u003eIn a new preface to this powerful book, Shiller discusses the development of the crisis in relation to the ideas presented in \u003cem\u003eThe Subprime Solution\u003c\/em\u003e.\u003c\/p\u003e\n\u003c\/div\u003e","brand":"NewSouth Books","offers":[{"title":"Default Title","offer_id":46481726603500,"sku":"9780691156323","price":32.0,"currency_code":"NZD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0705\/7784\/8556\/files\/1550373482434.jpg?v=1748214731"},{"product_id":"narrative-economics-by-robert-j-shiller-9780691210261","title":"Narrative Economics","description":"\u003cdiv class=\"book-description\"\u003e\n\u003cp\u003eStories people tell—about financial confidence or panic, housing booms, or Bitcoin—can go viral and powerfully affect economies, but such narratives have traditionally been ignored in economics and finance because they seem anecdotal and unscientific. In this groundbreaking book, Robert Shiller explains why we ignore these stories at our peril—and how we can begin to take them seriously.\u003c\/p\u003e\n\n\u003cp\u003eUsing a rich array of examples and data, Shiller argues that studying popular stories that influence individual and collective economic behaviour—what he calls \u003cem\u003enarrative economics\u003c\/em\u003e—may vastly improve our ability to predict, prepare for, and lessen the damage of financial crises and other major economic events. The result is nothing less than a new way to think about the economy, economic change, and economics.\u003c\/p\u003e\n\n\u003cp\u003eIn a new preface, Shiller reflects on some of the challenges facing narrative economics, discusses the connection between disease epidemics and economic epidemics, and suggests why epidemiology may hold lessons for fighting economic contagions.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003e\"Shiller's thorough discussion and many examples are certainly convincing as to the importance of narratives in individual economic decision-making and aggregate economic phenomena.\" - Sonia Jaffe, \u003cem\u003eScience\u003c\/em\u003e\u003c\/strong\u003e\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003e\"An eloquent and accessible exposition of a seductive idea.\" - Tim Jackson, \u003cem\u003eNature\u003c\/em\u003e\u003c\/strong\u003e\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003e\"Excellent.\" - Gillian Tett, \u003cem\u003eFinancial Times\u003c\/em\u003e\u003c\/strong\u003e\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003e\"A magisterial account.\" - Steve Denning, \u003cem\u003eForbes\u003c\/em\u003e\u003c\/strong\u003e\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003e\"A wonderfully enjoyable ride...Shiller's book is filled with bite-size nuggets...that are easily digested and provide illuminating parallels between the virality of diseases and fads and bubbles in asset prices.\" - Mihir Desai, \u003cem\u003eTimes Higher Education\u003c\/em\u003e\u003c\/strong\u003e\u003c\/p\u003e\n\u003c\/div\u003e","brand":"NewSouth Books","offers":[{"title":"Default Title","offer_id":46833345331436,"sku":"9780691210261","price":66.99,"currency_code":"NZD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0705\/7784\/8556\/files\/2089753482434.jpg?v=1758453252"},{"product_id":"animal-spirits-by-robert-j-shiller-9780691145921","title":"Animal Spirits","description":"\u003cdiv class=\"book-description\"\u003e\n\u003cp\u003eThe global financial crisis has made it painfully clear that powerful psychological forces are imperilling the wealth of nations today. From blind faith in ever-rising housing prices to plummeting confidence in capital markets, \u003cem\u003eanimal spirits\u003c\/em\u003e are driving financial events worldwide.\u003c\/p\u003e\n\n\u003cp\u003eIn this book, acclaimed economists George Akerlof and Robert Shiller challenge the economic wisdom that got us into this mess, and put forward a bold new vision that will transform economics and restore prosperity. Akerlof and Shiller reassert the necessity of an active government role in economic policymaking by recovering the idea of animal spirits, a term John Maynard Keynes used to describe the gloom and despondence that led to the Great Depression and the changing psychology that accompanied recovery. Like Keynes, Akerlof and Shiller know that managing these animal spirits requires the steady hand of government—simply allowing markets to work won't do it.\u003c\/p\u003e\n\n\u003cp\u003eIn rebuilding the case for a more robust, behaviourally informed Keynesianism, they detail the most pervasive effects of animal spirits in contemporary economic life—such as confidence, fear, bad faith, corruption, a concern for fairness, and the stories we tell ourselves about our economic fortunes—and show how Reaganomics, Thatcherism, and the rational expectations revolution failed to account for them.\u003c\/p\u003e\n\n\u003cp\u003e\u003ci\u003eAnimal Spirits\u003c\/i\u003e offers a road map for reversing the financial misfortunes besetting us today. Read it and learn how leaders can channel animal spirits—the powerful forces of human psychology that are afoot in the world economy today. In a new preface, they describe why our economic troubles may linger for some time—unless we are prepared to take further, decisive action.\u003c\/p\u003e\n\u003c\/div\u003e","brand":"NewSouth Books","offers":[{"title":"Default Title","offer_id":47470047002860,"sku":"9780691145921","price":53.0,"currency_code":"NZD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0705\/7784\/8556\/files\/9780691145921-animal-spirits.jpg?v=1775209233"},{"product_id":"market-volatility-by-robert-j-shiller-9780262691512","title":"Market Volatility","description":"\u003cdiv class=\"book-description\"\u003e\n\u003cp\u003e\u003cem\u003eMarket Volatility\u003c\/em\u003e proposes an innovative theory, backed by substantial statistical evidence, on the causes of price fluctuations in speculative markets. It challenges the standard efficient-markets model for explaining asset prices by emphasizing the significant role that popular opinion or psychology can play in price volatility.\u003c\/p\u003e\n\n\u003cp\u003eOffering detailed analyses of the stock, the bond, and the real estate markets, Shiller discusses the relations of these speculative prices and extends the analysis of speculative markets to macroeconomic activity in general.\u003c\/p\u003e\n\u003c\/div\u003e","brand":"Penguin Random House NZ","offers":[{"title":"Default Title","offer_id":47596886360300,"sku":"9780262691512","price":194.0,"currency_code":"NZD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0705\/7784\/8556\/files\/9780262691512-market-volatility.jpg?v=1777943997"},{"product_id":"narrative-economics-by-robert-j-shiller-9780691182292","title":"Narrative Economics","description":"\u003cdiv class=\"book-description\"\u003e\n\u003cp\u003e\u003cem\u003eOne of the \u003ci\u003eFinancial Times\u003c\/i\u003e' Best Books of 2019: Economics\u003c\/em\u003e\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eWinner of the PROSE Award in Economics, Association of American Publishers\u003c\/strong\u003e\u003c\/p\u003e\n\n\u003cp\u003e\u003cem\u003eAn \u003ci\u003eEconomist\u003c\/i\u003e Book of the Year\u003c\/em\u003e\u003c\/p\u003e\n\n\u003cp\u003eFrom Nobel Prize-winning economist and \u003ci\u003eNew York Times\u003c\/i\u003e bestselling author Robert Shiller, a groundbreaking account of how stories help drive economic events—and why financial panics can spread like epidemic viruses.\u003c\/p\u003e\n\n\u003cp\u003eIn a world in which internet troll farms attempt to influence foreign elections, can we afford to ignore the power of viral stories to affect economies? In this groundbreaking book, Robert Shiller offers a new way to think about the economy and economic change.\u003c\/p\u003e\n\n\u003cp\u003eUsing a rich array of historical examples and data, Shiller argues that studying popular stories that affect individual and collective economic behaviour—what he calls 'narrative economics'—has the potential to vastly improve our ability to predict, prepare for, and lessen the damage of financial crises, recessions, depressions, and other major economic events.\u003c\/p\u003e\n\n\u003cp\u003eSpread through the public in the form of popular stories, ideas can go viral and move markets—whether it's the belief that tech stocks can only go up, that housing prices never fall, or that some firms are too big to fail. Whether true or false, stories like these—transmitted by word of mouth, by the news media, and increasingly by social media—drive the economy by driving our decisions about how and where to invest, how much to spend and save, and more. But despite the obvious importance of such stories, most economists have paid little attention to them. \u003cem\u003eNarrative Economics\u003c\/em\u003e sets out to change that by laying the foundation for a way of understanding how stories help propel economic events that have led to war, mass unemployment, and increased inequality.\u003c\/p\u003e\n\n\u003cp\u003eThe stories people tell—about economic confidence or panic, housing booms, the American dream, or Bitcoin—affect economic outcomes. \u003cem\u003eNarrative Economics\u003c\/em\u003e explains how we can begin to take these stories seriously. It may be Robert Shiller's most important book to date.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003e'Provocative...Especially timely in the current social media-obsessed era, because narratives—both real and false—can spread globally with just a few swipes, affecting not just economic activity, but ultimately the balance of geopolitical power.' - Matt Schifrin, \u003ci\u003eForbes\u003c\/i\u003e\u003c\/strong\u003e\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003e'Economics is the study of people at work, but where are the people? Many a learned economist forgets all about them. Not Robert Shiller, the author of \u003cem\u003eNarrative Economics\u003c\/em\u003e, who believes that volatile human emotion counts for more than you think in the ostensibly objective valuation of stocks, bonds and buildings.' - James Grant, \u003ci\u003eWall Street Journal\u003c\/i\u003e\u003c\/strong\u003e\u003c\/p\u003e\n\u003c\/div\u003e","brand":"Hachette Aotearoa New Zealand","offers":[{"title":"Default Title","offer_id":47607229415660,"sku":"9780691182292","price":134.0,"currency_code":"NZD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0705\/7784\/8556\/files\/9780691182292-narrative-economics.jpg?v=1778158957"}],"url":"https:\/\/bookhero.live\/collections\/robert-j-shiller.oembed","provider":"Book Hero","version":"1.0","type":"link"}