# Macro Markets

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{{Short description|1993 economics book by Robert Shiller}}
{{Infobox book
| author            = [Robert Shiller](/source/Robert_Shiller)
| isbn              = 0198294182
| pub_date          = 1993
| publisher         = [Clarendon Press](/source/Clarendon_Press)
| genre             = Finance
| image             = File:Macro_Markets.png
| caption           = Title page for ''Macro Markets'' (1993) signed by the author
}}
{{italic title}}
'''''Macro Markets''''' ({{ISBN|0198294182}}) is a book by [Robert Shiller](/source/Robert_Shiller). It was published in 1993 by the [Clarendon Press](/source/Clarendon_Press) imprint of the [Oxford University Press](/source/Oxford_University_Press). It suggests that humans cannot fully diversify away their [risk](/source/risk) as [portfolio theory](/source/portfolio_theory) would like us to.  This is because there are [missing market](/source/missing_market)s, such as the general geographically computational risk of living in a certain area. The book envisions completing endowment markets by providing tradable [risk factors](/source/risk_factor_(finance)).

==External links==
*[http://www.us.oup.com/us/catalog/general/subject/Economics/Business/?view=usa&ci=9780198294184 Oxford University Press]

== References ==
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Category:1993 non-fiction books
Category:Books about investing

{{finance-book-stub}}

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Adapted from the Wikipedia article [Macro Markets](https://en.wikipedia.org/wiki/Macro_Markets) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Macro_Markets?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.