TY - JOUR T1 - Crisis and Innovation JF - The Journal of Portfolio Management SP - 14 LP - 19 DO - 10.3905/jpm.2010.36.3.014 VL - 36 IS - 3 AU - Robert J. Shiller Y1 - 2010/04/30 UR - https://pm-research.com/content/36/3/14.abstract N2 - In this article, Shiller articulates the need for innovationenhancing regulation, not regulation that arbitrarily ties markets down. In the several years since the crisis began in 2007, only the first couple of stages of crisis response have been experienced. Other stages are expected. The next stage will be one in which the markets are made fundamentally more resilient and less prone to crisis.The final stage of response will be one in which the scope and depth of financial markets are expanded in order to move closer to completing the fundamental task of risk management, broadly construed.Together, all of these stages of response might take 10 years or longer.TOPICS: Retirement investing, risk management, in markets ER -