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Author : Congmin Peng
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (879 download)
Download or read book Essays on Bubbles in Financial Markets written by Congmin Peng and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Oswald Mungule
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783659197666
Total Pages : 124 pages
Book Rating : 4.1/5 (976 download)
Download or read book Essays on Speculative Bubbles in Financial Markets written by Oswald Mungule and published by LAP Lambert Academic Publishing. This book was released on 2012-08 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial markets have been experiencing episodes of financial crises since the great depression of 1929. The busting of speculative bubbles is one of the causes of most financial crises. Financial crises cause welfare loses. Therefore, Mungule and Malikane's Essays on Speculative Bubbles in Financial Markets presents a thoroughly up-to-date and pedagogically rich advanced knowledge that fits perfectly into the newest segments of both financial and monetary economics course areas. Beginning with Chapter 1 on formation of speculative bubbles, central banks are encouraged to understand speculative bubbles dynamics, measurement issues and the implications of either responding or no response to the bubbles on macroeconomic variables. This edition provides international application of speculative bubbles, helping make issues of monetary policy implications of responding to asset price bubbles easy for policy makers and postgraduate students to understand.
Author :
Publisher :
ISBN 13 :
Total Pages : 2 pages
Book Rating : 4.:/5 (315 download)
Download or read book Wir Unterzeichnete vereinigen uns, gemeinschaftlich dafür zu wirken, daß die bei der ersten Lesung angenommenen Grundlagen und Consequenzen des deutschen Bundesstaates ... written by and published by . This book was released on 1848 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Anastasios G Malliaris
Publisher : World Scientific
ISBN 13 : 9814480045
Total Pages : 373 pages
Book Rating : 4.8/5 (144 download)
Download or read book Economic Uncertainty, Instabilities And Asset Bubbles: Selected Essays written by Anastasios G Malliaris and published by World Scientific. This book was released on 2005-10-03 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: The compendium of papers in this volume focuses on aspects of economic uncertainty, financial instabilities and asset bubbles.Economic uncertainty is modeled in continuous time using the mathematical techniques of stochastic calculus. A detailed treatment of important topics is provided, including the existence and uniqueness of asymptotic economic growth, the modeling of inflation and interest rates, the decomposition of inflation and its volatility, and the extension of the quantity theory of money to allow for randomness.The reader is also introduced to the methods of chaotic dynamics, and this methodology is applied to asset pricing, the European equity markets, and the multi-fractality in foreign currency markets.Since the techniques of stochastic calculus and chaotic dynamics do not readily accommodate the presence of stochastic bubbles, several papers discuss in depth the presence of financial bubbles in asset prices, and econometric work is performed to link such bubbles to monetary policy.Finally, since bubbles often burst rather than deflate slowly, the last section of the book studies the crash of October 1987 as well as other crashes of national equity markets due to the Persian gulf crisis.
Author : Brent Goldfarb
Publisher : Stanford University Press
ISBN 13 : 1503607933
Total Pages : 284 pages
Book Rating : 4.5/5 (36 download)
Download or read book Bubbles and Crashes written by Brent Goldfarb and published by Stanford University Press. This book was released on 2019-02-19 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: “An interesting take on some factors that facilitate the development and bursting of bubbles in technology industries. . . . Highly recommended.” —Choice Financial market bubbles are recurring, often painful, reminders of the costs and benefits of capitalism. While many books have studied financial manias and crises, most fail to compare times of turmoil with times of stability. In Bubbles and Crashes, Brent Goldfarb and David A. Kirsch give us new insights into the causes of speculative booms and busts. They identify a class of assets—major technological innovations—that can, but does not necessarily, produce bubbles. This methodological twist is essential: Only by comparing similar events that sometimes lead to booms and busts can we ascertain the root causes of bubbles. Using a sample of eighty-eight technologies spanning 150 years, Goldfarb and Kirsch find that four factors play a key role in these episodes: the degree of uncertainty surrounding a particular innovation; the attentive presence of novice investors; the opportunity to directly invest in companies that specialize in the technology; and whether or not a technology is a good protagonist in a narrative. Goldfarb and Kirsch consider the implications of their analysis for technology bubbles that may be in the works today, offer tools for investors to identify whether a bubble is happening, and propose policy measures that may mitigate the risks associated with future speculative episodes.
Author : Lii-Tarn Chen
Publisher :
ISBN 13 :
Total Pages : 240 pages
Book Rating : 4.:/5 (89 download)
Download or read book Essays on Testing for Speculative Bubbles in the Stock Market written by Lii-Tarn Chen and published by . This book was released on 1995 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ge Yu
Publisher :
ISBN 13 :
Total Pages : 184 pages
Book Rating : 4.:/5 (126 download)
Download or read book Empirical Essays on Stock Market Bubbles written by Ge Yu and published by . This book was released on 2020 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : William Quinn
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (16 download)
Download or read book Bears and Bubbles in Financial Markets written by William Quinn and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : José A. Scheinkman
Publisher : Columbia University Press
ISBN 13 : 0231537638
Total Pages : 137 pages
Book Rating : 4.2/5 (315 download)
Download or read book Speculation, Trading, and Bubbles written by José A. Scheinkman and published by Columbia University Press. This book was released on 2014-07-08 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: As long as there have been financial markets, there have been bubbles—those moments in which asset prices inflate far beyond their intrinsic value, often with ruinous results. Yet economists are slow to agree on the underlying forces behind these events. In this book José A. Scheinkman offers new insight into the mystery of bubbles. Noting some general characteristics of bubbles—such as the rise in trading volume and the coincidence between increases in supply and bubble implosions—Scheinkman offers a model, based on differences in beliefs among investors, that explains these observations. Other top economists also offer their own thoughts on the issue: Sanford J. Grossman and Patrick Bolton expand on Scheinkman's discussion by looking at factors that contribute to bubbles—such as excessive leverage, overconfidence, mania, and panic in speculative markets—and Kenneth J. Arrow and Joseph E. Stiglitz contextualize Scheinkman's findings.
Author : George Soros
Publisher : Public Affairs
ISBN 13 : 1610391527
Total Pages : 211 pages
Book Rating : 4.6/5 (13 download)
Download or read book Financial Turmoil in Europe and the United States written by George Soros and published by Public Affairs. This book was released on 2012-01-01 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addresses the need for the United States to restructure the banking and financial system, anticipates the globalization of the crisis, and calls for international action.
Author : William Ryan Quinn
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (117 download)
Download or read book Bears and Bubbles in Financial Markets written by William Ryan Quinn and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ranga Chand
Publisher : Independently Published
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.5/5 (21 download)
Download or read book Essays on the Global Economy and World Financial Markets written by Ranga Chand and published by Independently Published. This book was released on 2021-05-11 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2007-2008 financial crises and the Great Recession that followed was a global event that caused great upheaval in the world economy. The crisis, which started in the US with the sub-prime mortgage debacle and the bursting of the housing bubble, triggered a credit crunch that reverberated around the globe and came close to toppling the world's financial infrastructure. The developed countries were particularly hard hit as GDP dropped sharply in all the major Western economies. With demand plunging and job losses mounting, the unemployment rate soared. Compared to their pre-crisis levels, the rate doubled in several countries including Ireland, Spain and the United States and tripled in the Baltic countries of Latvia and Lithuania.Tens of thousands of businesses, both large and small from all economic sectors, went bankrupt. For households, as property prices tanked millions of homeowners found themselves in negative equity, owing more on their mortgages than their homes were worth. When Lehman Brothers, the behemoth Wall Street bank, collapsed in September 2008 it was a watershed moment. Credit markets froze and liquidity virtually vanished as banks were reluctant to lend for fear of not being repaid which gummed up the economic machinery. As panic rippled through the system and investors headed for the exits, global stock markets took a battering. By the end of 2008 trillions of dollars in value had been wiped out. This book brings together a series of essays that the author wrote for his corporate clients over the period from 2009 to 2012. The articles analyzed the impact and fallout that the Great Recession had on the global economy and critically examined the efficacy of the policy responses of governments and central banks as they tried to steady the global economic ship. Also included are a number of posts by the author that were published in the Globe and Mail, Canada's premier national newspaper.
Author : Harold L. Vogel
Publisher : Springer Nature
ISBN 13 : 3030791823
Total Pages : 619 pages
Book Rating : 4.0/5 (37 download)
Download or read book Financial Market Bubbles and Crashes written by Harold L. Vogel and published by Springer Nature. This book was released on 2021-12-17 with total page 619 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists broadly define financial asset price bubbles as episodes in which prices rise with notable rapidity and depart from historically established asset valuation multiples and relationships. Financial economists have for decades attempted to study and interpret bubbles through the prisms of rational expectations, efficient markets, equilibrium, arbitrage, and capital asset pricing models, but they have not made much if any progress toward a consistent and reliable theory that explains how and why bubbles (and crashes) evolve and are defined, measured, and compared. This book develops a new and different approach that is based on the central notion that bubbles and crashes reflect urgent short-side rationing, which means that, as such extreme conditions unfold, considerations of quantities owned or not owned begin to displace considerations of price.
Author : Mathieu Boullot
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (113 download)
Download or read book Essays on Asset Bubbles and Secular Stagnation written by Mathieu Boullot and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first chapter questions the conventional intuition that a high concentration of income at the top of the distribution should promote the emergence of rational asset bubbles. I use an OLG model with financial fictions and heterogeneous agents that differ in terms of savings rate, portfolio choices and skills. I show that a high concentration at the top promotes the emergence of asset bubbles if and only if those asset bubbles are illiquid or financial markets are arbitrage-free. Instead, if asset bubbles are liquid and liquid assets pay a premium under illiquid assets, a low concentration promotes the emergence of asset bubbles. The second chapter studies the circumstances under which asset bubbles are expansionary in an OLG-New Keynesian that includes capital. I show that secular stagnation is a necessary but not sufficient condition. Indeed, asset bubbles stimulate investment, consumption and output if and only if there's a strong shortage of aggregate demand. Finally, the third paper shows that "standard" New Keynesian models make puzzling predictions when aggregate demand is chronically deficient they predict a secular boom, and seeks to understand how those models must be adjusted to analyze secular stagnation. I emphasize the crucial role of the long run elasticities of asset demand and supply with respect to the output gap in general equilibrium; and I also connect the secular boom to other puzzling predictions of the New Keynesian model.
Author : Kohei Iwasaki
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (126 download)
Download or read book Essays on Bubbles in Markets with Frictions written by Kohei Iwasaki and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter 1 develops a model of a cryptocurrency by incorporating mining competition into a standard search-theoretic model of fiat money. In my model, multiple equilibria exist due to self-fulfilling expectations on the values of the cryptocurrency. To obtain a sharp prediction on whether cryptocurrency bubbles will last for the future, I propose a notion of equilibrium refinement based on the feature of cryptocurrency systems that mining is resource-intensive. It turns out that this refinement eliminates all equilibria whose values of the cryptocurrency are zero at some point in time or converge to zero as time passes. This result suggests that agents can collectively sustain cryptocurrency bubbles using costly mining as a coordinating device. Chapter 2 develops a model of rational bubbles where trade of an asset takes place through a chain of middlemen. We show that there exists a unique and robust equilibrium, and a bubble can occur due to information frictions in bilateral and decentralized markets. Under reasonable assumptions, the equilibrium price is increasing and accelerating during bubbles although the fundamental value is constant over time. Bubbles may be detrimental to the economy, but any announcement from the central bank has no effect on welfare with risk neutral agents. Middlemen are the source of financial fragility. Chapter 3 reviews and extends recent research on liquidity and asset pricing. We start by asking how can intrinsically-worthless fiat money be valued in equilibrium? The literature on which we build formalizes how money is valued for its liquidity when exchange is hindered by various frictions. Once one sees how money can be priced above its fundamental value, it is clear that many other assets can be, too, if they also convey liquidity. We study under which conditions money can be valued if assets have fundamental value, how the liquidity values of money and assets interact, and how they are affected by changes in parameters such as acceptability, pledgeability, or the type of the asset.
Author : Lii-Tarn Chen
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (91 download)
Download or read book Essays on Testing for Specultative Bubbles in the Stock Market written by Lii-Tarn Chen and published by . This book was released on 1995 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Andria C. Evripidou
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (16 download)
Download or read book Essays on Speculative Financial Bubbles written by Andria C. Evripidou and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
