Symposium on Economics of Information: Introduction Joseph E. Stiglitz Joseph E. Stiglitz Stanford University and Oxford University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 44, Issue 3, October 1977, Pages 389–391, https://doi.org/10.2307/2296897 Published: 01 October 1977

Journal Article Incentives and Risk Sharing in Sharecropping Get access Joseph E. Stiglitz Joseph E. Stiglitz Yale University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 41, Issue 2, April 1974, Pages 219–255, https://doi.org/10.2307/2296714 Published: 01 April 1974

Journal Article Growth with Exhaustible Natural Resources: The Competitive Economy Get access Joseph E. Stiglitz Joseph E. Stiglitz St Catherine's College, Oxford and Stanford University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 41, Issue 5, December 1974, Pages 139–152, https://doi.org/10.2307/2296378 Published: 01 December 1974

Partha Dasgupta, Joseph Stiglitz; On Optimal Taxation and Public Production12, The Review of Economic Studies, Volume 39, Issue 1, 1 January 1972, Pages 87

Introduction, 629.—I. The basic model, 630.—II. Robustness, 638—III. Conclusion, 648.

Integration of global financial markets was supposed to lead to greater financial stability, as risks were spread around the world. The finan cial crisis has thrown doubt on this conclusion. A failure in one part of the global economic system caused a global “meltdown.” The recent crisis has shown that in the absence of appro priate government intervention, privately profit able transactions may lead to systemic risk. This paper provides a general analytic framework within which we can analyze the optimal degree (and form) of financial integration. Within this general framework, full integration is not in general optimal. Indeed, faced with a choice between two polar regimes, full integration or autarky, in the simplified model autarky may be superior.

The research for which George Akerlof, Mike Spence, and I are being recognized is part of a larger research program which, today, embraces hundred, perhaps thousands, of researchers around the worl...