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Taking uncertainty seriously: complementarity as a moving target
[collection article]
Corporate Editor
Oesterreichische Nationalbank
Abstract "In the following I will discuss a few conceptual issues related to the notion of
complementarity between economic institutions. My brief notes are not meant to
debunk the concept. Quite to the contrary, they are a plea for more sophistication
in its use. My central claim is that current usage of th... view more
"In the following I will discuss a few conceptual issues related to the notion of
complementarity between economic institutions. My brief notes are not meant to
debunk the concept. Quite to the contrary, they are a plea for more sophistication
in its use. My central claim is that current usage of the concept makes too
demanding assumptions on the rationality of the actors designing and enacting
economic institutions. Moreover, it suggests too static a view of institutions. In
both respects, it seems necessary to rethink and make explicit the microfoundations
of the concept of complementarity, grounding it in both a realistic
theory of rational action on the one hand and a dynamic theory of social
institutions on the other." (excerpt)... view less
Keywords
institution; social system; economy; socioeconomic system; economic system
Classification
Political Economy
Method
documentation
Collection Title
The transformation of the European financial system. Where do we go? Where should we go?
Document language
English
Publication Year
2004
City
Wien
Page/Pages
p. 101-115
Series
Proceedings of OeNB Workshops, 1
Licence
Deposit Licence - No Redistribution, No Modifications
Data providerThis metadata entry was indexed by the Special Subject Collection Social Sciences, USB Cologne