Economic Bubbles A Story Of New Eras Emotional Contagion And Structural Support

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Economic Bubbles: A Story of New Eras, Emotional Contagion and Structural Support

Author : Sophia Kühnlenz
Publisher : diplom.de
ISBN 13 : 3954897024
Total Pages : 83 pages
Book Rating : 4.9/5 (548 download)

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Book Synopsis Economic Bubbles: A Story of New Eras, Emotional Contagion and Structural Support by : Sophia Kühnlenz

Download or read book Economic Bubbles: A Story of New Eras, Emotional Contagion and Structural Support written by Sophia Kühnlenz and published by diplom.de. This book was released on 2014-01-01 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic bubbles go hand in hand with financial inventions, financial liberalization and excess leverage. Frequently these bubbles are fueled by the overoptimistic outlook not only of the so-called experts or gurus but also by the extremely positive perception of the general public. Great hikes in asset and commodity markets are believed to be a result of the new economy that has been created. Historical levels of markets and where the level of fundamentals should really be are either unknown or completely ignored. Partially one could account this to the short financial memory of market participants. Partially the abstract nature of the markets and the complexity of financial products themselves may be the reason. This paper tries to identify regularities defining economic bubbles concentrating on the most recent ones. Different approaches in explaining market movements will be discussed. Further, not only structural but especially psychological factors which may cause the emergence, the inflation and the implosion of economic bubbles are considered. Already existing agent based models, policy responses and possible future policy measures are analyzed and evaluated.

Economic Bubbles: A Story of New Eras, Emotional Contagion and Structural Support

Author : Sophia Kühnlenz
Publisher : Anchor Academic Publishing (aap_verlag)
ISBN 13 : 3954892022
Total Pages : 89 pages
Book Rating : 4.9/5 (548 download)

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Book Synopsis Economic Bubbles: A Story of New Eras, Emotional Contagion and Structural Support by : Sophia Kühnlenz

Download or read book Economic Bubbles: A Story of New Eras, Emotional Contagion and Structural Support written by Sophia Kühnlenz and published by Anchor Academic Publishing (aap_verlag). This book was released on 2014-03-13 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic bubbles go hand in hand with financial inventions, financial liberalization and excess leverage. Frequently these bubbles are fueled by the overoptimistic outlook not only of the so-called experts or gurus but also by the extremely positive perception of the general public. Great hikes in asset and commodity markets are believed to be a result of the new economy that has been created. Historical levels of markets and where the level of fundamentals should really be are either unknown or completely ignored. Partially one could account this to the short financial memory of market participants. Partially the abstract nature of the markets and the complexity of financial products themselves may be the reason. This paper tries to identify regularities defining economic bubbles concentrating on the most recent ones. Different approaches in explaining market movements will be discussed. Further, not only structural but especially psychological factors which may cause the emergence, the inflation and the implosion of economic bubbles are considered. Already existing agent based models, policy responses and possible future policy measures are analyzed and evaluated.

Handbook of Investors' Behavior during Financial Crises

Author : Fotini Economou
Publisher : Academic Press
ISBN 13 : 0128112530
Total Pages : 514 pages
Book Rating : 4.1/5 (281 download)

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Book Synopsis Handbook of Investors' Behavior during Financial Crises by : Fotini Economou

Download or read book Handbook of Investors' Behavior during Financial Crises written by Fotini Economou and published by Academic Press. This book was released on 2017-06-24 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Investors' Behavior during Financial Crises provides fundamental information about investor behavior during turbulent periods, such the 2000 dot com crash and the 2008 global financial crisis. Contributors share the same behavioral finance tools and techniques while analyzing behaviors across a variety of market structures and asset classes. The volume provides novel insights about the influence and effects of regional differences in market design. Its distinctive approach to studies of financial crises is of key importance in our contemporary financial landscape, even more so since the accelerated process of globalization has rendered the outbreak of financial crises internationally more commonplace compared to previous decades. Encompasses empirical, quantitative and regulation-motivated studies Includes information about retail and institutional investor behavior Analyzes optimal financial structures for the development and growth of specific regional economies

The Age of Surveillance Capitalism

Author : Shoshana Zuboff
Publisher : PublicAffairs
ISBN 13 : 1610395700
Total Pages : 658 pages
Book Rating : 4.6/5 (13 download)

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Book Synopsis The Age of Surveillance Capitalism by : Shoshana Zuboff

Download or read book The Age of Surveillance Capitalism written by Shoshana Zuboff and published by PublicAffairs. This book was released on 2019-01-15 with total page 658 pages. Available in PDF, EPUB and Kindle. Book excerpt: The challenges to humanity posed by the digital future, the first detailed examination of the unprecedented form of power called "surveillance capitalism," and the quest by powerful corporations to predict and control our behavior. In this masterwork of original thinking and research, Shoshana Zuboff provides startling insights into the phenomenon that she has named surveillance capitalism. The stakes could not be higher: a global architecture of behavior modification threatens human nature in the twenty-first century just as industrial capitalism disfigured the natural world in the twentieth. Zuboff vividly brings to life the consequences as surveillance capitalism advances from Silicon Valley into every economic sector. Vast wealth and power are accumulated in ominous new "behavioral futures markets," where predictions about our behavior are bought and sold, and the production of goods and services is subordinated to a new "means of behavioral modification." The threat has shifted from a totalitarian Big Brother state to a ubiquitous digital architecture: a "Big Other" operating in the interests of surveillance capital. Here is the crucible of an unprecedented form of power marked by extreme concentrations of knowledge and free from democratic oversight. Zuboff's comprehensive and moving analysis lays bare the threats to twenty-first century society: a controlled "hive" of total connection that seduces with promises of total certainty for maximum profit -- at the expense of democracy, freedom, and our human future. With little resistance from law or society, surveillance capitalism is on the verge of dominating the social order and shaping the digital future -- if we let it.

Emotional Contagion

Author : Elaine Hatfield
Publisher : Cambridge University Press
ISBN 13 : 9780521449489
Total Pages : 256 pages
Book Rating : 4.4/5 (494 download)

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Book Synopsis Emotional Contagion by : Elaine Hatfield

Download or read book Emotional Contagion written by Elaine Hatfield and published by Cambridge University Press. This book was released on 1994 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: A study of the phenomenon of emotion contagion, or the communication of mood to others.

Famous First Bubbles

Author : Peter M. Garber
Publisher : MIT Press
ISBN 13 : 9780262571531
Total Pages : 180 pages
Book Rating : 4.5/5 (715 download)

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Book Synopsis Famous First Bubbles by : Peter M. Garber

Download or read book Famous First Bubbles written by Peter M. Garber and published by MIT Press. This book was released on 2001-08-24 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: The jargon of economics and finance contains numerous colorful terms for market-asset prices at odds with any reasonable economic explanation. Examples include "bubble," "tulipmania," "chain letter," "Ponzi scheme," "panic," "crash," "herding," and "irrational exuberance." Although such a term suggests that an event is inexplicably crowd-driven, what it really means, claims Peter Garber, is that we have grasped a near-empty explanation rather than expend the effort to understand the event. In this book Garber offers market-fundamental explanations for the three most famous bubbles: the Dutch Tulipmania (1634-1637), the Mississippi Bubble (1719-1720), and the closely connected South Sea Bubble (1720). He focuses most closely on the Tulipmania because it is the event that most modern observers view as clearly crazy. Comparing the pattern of price declines for initially rare eighteenth-century bulbs to that of seventeenth-century bulbs, he concludes that the extremely high prices for rare bulbs and their rapid decline reflects normal pricing behavior. In the cases of the Mississippi and South Sea Bubbles, he describes the asset markets and financial manipulations involved in these episodes and casts them as market fundamentals.

Narrative Economics

Author : Robert J. Shiller
Publisher : Princeton University Press
ISBN 13 : 0691212074
Total Pages : 408 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis Narrative Economics by : Robert J. Shiller

Download or read book Narrative Economics written by Robert J. Shiller and published by Princeton University Press. This book was released on 2020-09-01 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: From Nobel Prize–winning economist and New York Times bestselling author Robert Shiller, a groundbreaking account of how stories help drive economic events—and why financial panics can spread like epidemic viruses Stories 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. Using a rich array of examples and data, Shiller argues that studying popular stories that influence individual and collective economic behavior—what he calls "narrative economics"—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. In 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.

The Financial Crisis Inquiry Report, Authorized Edition

Author : United States. Financial Crisis Inquiry Commission
Publisher : Public Affairs
ISBN 13 : 1610390415
Total Pages : 578 pages
Book Rating : 4.6/5 (13 download)

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Book Synopsis The Financial Crisis Inquiry Report, Authorized Edition by : United States. Financial Crisis Inquiry Commission

Download or read book The Financial Crisis Inquiry Report, Authorized Edition written by United States. Financial Crisis Inquiry Commission and published by Public Affairs. This book was released on 2011-01-27 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the causes of the financial crisis that began in 2008 and reveals the weaknesses found in financial regulation, excessive borrowing, and breaches in accountability.

Irrational Exuberance

Author : Robert J. Shiller
Publisher : Princeton University Press
ISBN 13 : 9780691123356
Total Pages : 336 pages
Book Rating : 4.1/5 (233 download)

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Book Synopsis Irrational Exuberance by : Robert J. Shiller

Download or read book Irrational Exuberance written by Robert J. Shiller and published by Princeton University Press. This book was released on 2005-03-14 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This first edition of this book was a broad study, drawing on a wide range of published research and historical evidence, of the enormous stock market boom that started around 1982 and picked up incredible speed after 1995. Although it took as its specific starting point this ongoing boom, it placed it in the context of stock market booms generally, and it also made concrete suggestions regarding policy changes that should be initiated in response to this and other such booms. The book argued that the boom represents a speculative bubble, not grounded in sensible economic fundamentals. Part one of the book considered structural factors behind the boom. A list of twelve precipitating factors that appear to be its ultimate causes was given. Amplification mechanisms, naturally-occurring Ponzi processes, that enlarge the effects of these precipitating factors, were described. Part Two discussed cultural factors, the effects of the news media, and of "new era" economic thinking. Part Three discussed psychological factors, psychological anchors for the market and herd behavior. Part Four discussed attempts to rationalize exuberance: efficient markets theory and theories that investors are learning. Part Five presented policy options and actions that should be taken. The second edition, 2005, added an analysis of the real estate bubble as similar to the stock market bubble that preceded it, and warned that "Significant further rises in these markets could lead, eventually, to even more significant declines. The bad outcome could be that eventual declines would result in a substantial increase in the rate of personal bankruptcies, which could lead to a secondary string of bankruptcies of financial institutions as well. Another long-run consequence could be a decline in consumer and business confidence, and another, possibly worldwide, recession." Thus, the second edition of this book was among the first to warn of the global financial crisis that began with the subprime mortgage debacle in 2007.

The Great Deformation

Author : David Stockman
Publisher : Public Affairs
ISBN 13 : 1586489127
Total Pages : 770 pages
Book Rating : 4.5/5 (864 download)

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Book Synopsis The Great Deformation by : David Stockman

Download or read book The Great Deformation written by David Stockman and published by Public Affairs. This book was released on 2013-04-02 with total page 770 pages. Available in PDF, EPUB and Kindle. Book excerpt: A former Michigan congressman and member of the Reagan administration describes how interference in the financial markets has contributed to the national debt and has damaging and lasting repercussions.

Emotions in Finance

Author : Jocelyn Pixley
Publisher : Cambridge University Press
ISBN 13 : 9780521827850
Total Pages : 248 pages
Book Rating : 4.8/5 (278 download)

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Book Synopsis Emotions in Finance by : Jocelyn Pixley

Download or read book Emotions in Finance written by Jocelyn Pixley and published by Cambridge University Press. This book was released on 2004-11-23 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publisher Description

All the Devils Are Here

Author : Bethany McLean
Publisher : Penguin
ISBN 13 : 1101551054
Total Pages : 416 pages
Book Rating : 4.1/5 (15 download)

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Book Synopsis All the Devils Are Here by : Bethany McLean

Download or read book All the Devils Are Here written by Bethany McLean and published by Penguin. This book was released on 2011-08-30 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Hell is empty, and all the devils are here." -Shakespeare, The Tempest As soon as the financial crisis erupted, the finger-pointing began. Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers? According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, the real answer is all of the above-and more. Many devils helped bring hell to the economy. And the full story, in all of its complexity and detail, is like the legend of the blind men and the elephant. Almost everyone has missed the big picture. Almost no one has put all the pieces together. All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature. Among the devils you'll meet in vivid detail: • Angelo Mozilo, the CEO of Countrywide, who dreamed of spreading homeownership to the masses, only to succumb to the peer pressure-and the outsized profits-of the sleaziest subprime lending. • Roland Arnall, a respected philanthropist and diplomat, who made his fortune building Ameriquest, a subprime lending empire that relied on blatantly deceptive lending practices. • Hank Greenberg, who built AIG into a Rube Goldberg contraption with an undeserved triple-A rating, and who ran it so tightly that he was the only one who knew where all the bodies were buried. • Stan O'Neal of Merrill Lynch, aloof and suspicious, who suffered from "Goldman envy" and drove a proud old firm into the ground by promoting cronies and pushing out his smartest lieutenants. • Lloyd Blankfein, who helped turn Goldman Sachs from a culture that famously put clients first to one that made clients secondary to its own bottom line. • Franklin Raines of Fannie Mae, who (like his predecessors) bullied regulators into submission and let his firm drift away from its original, noble mission. • Brian Clarkson of Moody's, who aggressively pushed to increase his rating agency's market share and stock price, at the cost of its integrity. • Alan Greenspan, the legendary maestro of the Federal Reserve, who ignored the evidence of a growing housing bubble and turned a blind eye to the lending practices that ultimately brought down Wall Street-and inflicted enormous pain on the country. Just as McLean's The Smartest Guys in the Room was hailed as the best Enron book on a crowded shelf, so will All the Devils Are Here be remembered for finally making sense of the meltdown and its consequences.

Resilience

Author : Andrew Zolli
Publisher : Simon and Schuster
ISBN 13 : 1451683812
Total Pages : 336 pages
Book Rating : 4.4/5 (516 download)

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Book Synopsis Resilience by : Andrew Zolli

Download or read book Resilience written by Andrew Zolli and published by Simon and Schuster. This book was released on 2013-07-09 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tracing some of the economic highs and lows that impacted the world in the aftermath of Hurricane Katrina, an introduction to the emerging field of resilience research explains how to approach disruptions in ecosystems, businesses and governments to better reinforce interdependent world systems. 40,000 first printing.

The Globalization Paradox

Author : Dani Rodrik
Publisher : Oxford University Press
ISBN 13 : 0199603332
Total Pages : 369 pages
Book Rating : 4.1/5 (996 download)

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Book Synopsis The Globalization Paradox by : Dani Rodrik

Download or read book The Globalization Paradox written by Dani Rodrik and published by Oxford University Press. This book was released on 2011-03-24 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: For a century, economists have driven forward the cause of globalization in financial institutions, labour markets, and trade. Yet there have been consistent warning signs that a global economy and free trade might not always be advantageous. Where are the pressure points? What could be done about them?Dani Rodrik examines the back-story from its seventeenth-century origins through the milestones of the gold standard, the Bretton Woods Agreement, and the Washington Consensus, to the present day. Although economic globalization has enabled unprecedented levels of prosperity in advanced countries and has been a boon to hundreds of millions of poor workers in China and elsewhere in Asia, it is a concept that rests on shaky pillars, he contends. Its long-term sustainability is not a given.The heart of Rodrik>'s argument is a fundamental 'trilemma': that we cannot simultaneously pursue democracy, national self-determination, and economic globalization. Give too much power to governments, and you have protectionism. Give markets too much freedom, and you have an unstable world economy with little social and political support from those it is supposed to help. Rodrik argues for smart globalization, not maximum globalization.

Regulatory Cycles: Revisiting the Political Economy of Financial Crises

Author : Jihad Dagher
Publisher : International Monetary Fund
ISBN 13 : 1484337743
Total Pages : 89 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Regulatory Cycles: Revisiting the Political Economy of Financial Crises by : Jihad Dagher

Download or read book Regulatory Cycles: Revisiting the Political Economy of Financial Crises written by Jihad Dagher and published by International Monetary Fund. This book was released on 2018-01-15 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial crises are traditionally analyzed as purely economic phenomena. The political economy of financial booms and busts remains both under-emphasized and limited to isolated episodes. This paper examines the political economy of financial policy during ten of the most infamous financial booms and busts since the 18th century, and presents consistent evidence of pro-cyclical regulatory policies by governments. Financial booms, and risk-taking during these episodes, were often amplified by political regulatory stimuli, credit subsidies, and an increasing light-touch approach to financial supervision. The regulatory backlash that ensues from financial crises can only be understood in the context of the deep political ramifications of these crises. Post-crisis regulations do not always survive the following boom. The interplay between politics and financial policy over these cycles deserves further attention. History suggests that politics can be the undoing of macro-prudential regulations.

Good Economics for Hard Times

Author : Abhijit V. Banerjee
Publisher : PublicAffairs
ISBN 13 : 1541762878
Total Pages : 398 pages
Book Rating : 4.5/5 (417 download)

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Book Synopsis Good Economics for Hard Times by : Abhijit V. Banerjee

Download or read book Good Economics for Hard Times written by Abhijit V. Banerjee and published by PublicAffairs. This book was released on 2019-11-12 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: The winners of the Nobel Prize show how economics, when done right, can help us solve the thorniest social and political problems of our day. Figuring out how to deal with today's critical economic problems is perhaps the great challenge of our time. Much greater than space travel or perhaps even the next revolutionary medical breakthrough, what is at stake is the whole idea of the good life as we have known it. Immigration and inequality, globalization and technological disruption, slowing growth and accelerating climate change--these are sources of great anxiety across the world, from New Delhi and Dakar to Paris and Washington, DC. The resources to address these challenges are there--what we lack are ideas that will help us jump the wall of disagreement and distrust that divides us. If we succeed, history will remember our era with gratitude; if we fail, the potential losses are incalculable. In this revolutionary book, renowned MIT economists Abhijit V. Banerjee and Esther Duflo take on this challenge, building on cutting-edge research in economics explained with lucidity and grace. Original, provocative, and urgent, Good Economics for Hard Times makes a persuasive case for an intelligent interventionism and a society built on compassion and respect. It is an extraordinary achievement, one that shines a light to help us appreciate and understand our precariously balanced world.

The Subprime Solution

Author : Robert J. Shiller
Publisher : Princeton University Press
ISBN 13 : 0691156328
Total Pages : 224 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis The Subprime Solution by : Robert J. Shiller

Download or read book The Subprime Solution written by Robert J. Shiller and published by Princeton University Press. This book was released on 2012-09-24 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: A best-selling economist reveals the origins of the subprime mortgage crisis and puts forward bold measures to resolve it by restructuring the institutional foundations of the financial system in a thoughtful study by the author of Irrational Exuberance. First serial, The Atlantic.