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Author : Ashraf Mohamed Abdel Samea Ahmed
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (65 download)
Download or read book Speculative Bubbles and Financial Crises written by Ashraf Mohamed Abdel Samea Ahmed and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Harold L. Vogel
Publisher : Springer
ISBN 13 : 3319715283
Total Pages : 477 pages
Book Rating : 4.3/5 (197 download)
Download or read book Financial Market Bubbles and Crashes, Second Edition written by Harold L. Vogel and published by Springer. This book was released on 2018-08-16 with total page 477 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, and 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 can also be 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 : William Quinn
Publisher : Cambridge University Press
ISBN 13 : 1108369359
Total Pages : 297 pages
Book Rating : 4.1/5 (83 download)
Download or read book Boom and Bust written by William Quinn and published by Cambridge University Press. This book was released on 2020-08-06 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do stock and housing markets sometimes experience amazing booms followed by massive busts and why is this happening more and more frequently? In order to answer these questions, William Quinn and John D. Turner take us on a riveting ride through the history of financial bubbles, visiting, among other places, Paris and London in 1720, Latin America in the 1820s, Melbourne in the 1880s, New York in the 1920s, Tokyo in the 1980s, Silicon Valley in the 1990s and Shanghai in the 2000s. As they do so, they help us understand why bubbles happen, and why some have catastrophic economic, social and political consequences whilst others have actually benefited society. They reveal that bubbles start when investors and speculators react to new technology or political initiatives, showing that our ability to predict future bubbles will ultimately come down to being able to predict these sparks.
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 : Mr.Stijn Claessens
Publisher : International Monetary Fund
ISBN 13 : 1475561008
Total Pages : 66 pages
Book Rating : 4.4/5 (755 download)
Download or read book Financial Crises Explanations, Types, and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
Author : Bradley Jones
Publisher : International Monetary Fund
ISBN 13 : 1484398270
Total Pages : 49 pages
Book Rating : 4.4/5 (843 download)
Download or read book Identifying Speculative Bubbles written by Bradley Jones and published by International Monetary Fund. This book was released on 2014-11-19 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the aftermath of the global financial crisis, the issue of how best to identify speculative asset bubbles (in real-time) remains in flux. This owes to the difficulty of disentangling irrational investor exuberance from the rational response to lower risk based on price behavior alone. In response, I introduce a two-pillar (price and quantity) approach for financial market surveillance. The intuition is straightforward: while asset pricing models comprise a valuable component of the surveillance toolkit, risk taking behavior, and financial vulnerabilities more generally, can also be reflected in subtler, non-price terms. The framework appears to capture stylized facts of asset booms and busts—some of the largest in history have been associated with below average risk premia (captured by the ‘pricing pillar’) and unusually elevated patterns of issuance, trading volumes, fund flows, and survey-based return projections (reflected in the ‘quantities pillar’). Based on a comparison to past boom-bust episodes, the approach is signaling mounting vulnerabilities in risky U.S. credit markets. Policy makers and regulators should be attune to any further deterioration in issuance quality, and where possible, take steps to ensure the post-crisis financial infrastructure is braced to accommodate a re-pricing in credit risk.
Author : Charles P. Kindleberger
Publisher :
ISBN 13 : 9780333670408
Total Pages : 263 pages
Book Rating : 4.6/5 (74 download)
Download or read book Manias, Panics and Crashes written by Charles P. Kindleberger and published by . This book was released on 1996 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists mostly believe that financial markets are ruled by rationality after intelligent investors digest all the relevant information. Economic historians concede that this is generally the case but that, on occasion, these markets get caught up in herd behaviour, possibly irrational enough to be called manias, overdo bidding asset prices up, leading to consequent and subsequent collapse.
Author : C. Kindleberger
Publisher : Springer
ISBN 13 : 0230536751
Total Pages : 294 pages
Book Rating : 4.2/5 (35 download)
Download or read book Manias, Panics and Crashes written by C. Kindleberger and published by Springer. This book was released on 2016-01-09 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: Manias, Panics and Crashes was first published in 1978, and dealt with financial crises that were, for the most part, before World War II. Black Monday of October 1987, along with more research especially on the years from 1880 to 1893 indicated a need for a second look. The third edition had its stimulus in the Japanese crash of January 1990, the effects of which carried through to decade. This new fourth edition covers the striking troubles of Mexico in 1994-95 and East Asia in 1997-98.
Author : Masayuki Otaki
Publisher : Lexington Books
ISBN 13 : 1498549152
Total Pages : 168 pages
Book Rating : 4.4/5 (985 download)
Download or read book Speculative Bubbles and Monetary Policy written by Masayuki Otaki and published by Lexington Books. This book was released on 2018-12-17 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book works at the intersection of economic theory history. It presents a Keynesian theory with a rigorous dynamic microeconomic foundation that entirely differs from new Keynesian theory and applies it to the Japanese economic history from the 1980s to 2010s.
Author : Robert P. Flood
Publisher : MIT Press
ISBN 13 : 9780262061698
Total Pages : 528 pages
Book Rating : 4.0/5 (616 download)
Download or read book Speculative Bubbles, Speculative Attacks, and Policy Switching written by Robert P. Flood and published by MIT Press. This book was released on 1994 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers in this book are grouped into three sections: the first on price bubbles is primarily financial; the second on speculative attacks (on exchange rate regimes) is international in scope; and the third, on policy switching, is concerned with monetary policy.
Author : Mathias Binswanger
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 392 pages
Book Rating : 4.F/5 ( download)
Download or read book Stock Markets, Speculative Bubbles and Economic Growth written by Mathias Binswanger and published by Edward Elgar Publishing. This book was released on 1999 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examining the role of speculative bubbles in the stock market, this text argues that, provided they are sustainable, bubbles may have a positive effect on the market. They may provide additional investment opportunities with the potential to increase aggregate profits and improve economic welfare.
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 : Robert Z. Aliber
Publisher : Springer Nature
ISBN 13 : 3031160088
Total Pages : 433 pages
Book Rating : 4.0/5 (311 download)
Download or read book Manias, Panics, and Crashes written by Robert Z. Aliber and published by Springer Nature. This book was released on 2023-03-06 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the Eighth Edition of this classic text on the financial history of bubbles and crashes, Robert McCauley joins with Robert Aliber in building on Charles Kindleberger's renowned work. McCauley draws on his central banking experience to introduce new chapters on cryptocurrency and the United States as the 21st Century global lender of last resort. He also updates the book's coverage of the recent property bubble in China, as well as providing new perspectives on the US housing bubble of 2003-2006, and the Japanese bubble of the late 1980s. And he gives new attention to the social psychology that leads people to take the risk of investing in Ponzi schemes and asset price bubbles. For the first time in this revised and updated edition, figures highlight key points to ensure that today’s generation of finance and economic researchers, students, practitioners and policy-makers—as well as investors looking to avoid crashes—have access to this panoramic history of financial crisis.
Author : Garett Jones
Publisher : Springer
ISBN 13 : 1137553790
Total Pages : 365 pages
Book Rating : 4.1/5 (375 download)
Download or read book Banking Crises written by Garett Jones and published by Springer. This book was released on 2016-01-26 with total page 365 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do banks collapse? Are financial systems more fragile in recent decades? Can policies to fix the banking system do more harm than good? What's the history of banking crises? With dozens of brief, non-technical articles by economists and other researchers, Banking Crises offers answers from diverse scholarly viewpoints.
Author : John P. Calverley
Publisher : Nicholas Brealey
ISBN 13 : 1473645182
Total Pages : 323 pages
Book Rating : 4.4/5 (736 download)
Download or read book When Bubbles Burst written by John P. Calverley and published by Nicholas Brealey. This book was released on 2011-01-11 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: Surviving the financial fallout John Calverley's new book is about understanding what's going on, how policy impinges on it, what investors can do and what is likely to happen. This extremely topical and timely new book from the well-known economist and Head of Research, Standard Chartered Bank is the first book to examine in depth the financial fallout of 2008 and explore the implications and solutions for individuals, companies and central banks. His previous book, Bubbles and How to Survive Them predicted the current financial situation. He warned vigorously of the danger from the housing bubble and warned that stock prices might take off again and reach vulnerable levels (as indeed occurred in 2006-7.) This essential readable, non-technical guide is essential reading for everyone and particularly for investment professionals everywhere. In this new book - an investor's survival kit - he: * Outlines the crises we now face and reviews how we got here. * Looks closely at the huge housing bubbles in UK and the US, as well as those in Australia, Spain, Japan and Hong Kong. * Explores the anatomy of bubbles and presents a checklist for identifying them. * Tells the story of how the housing bubble led to the current financial crisis and how far prices might fall, focusing on household debt as the value of household assets collapse. * Examines strategies for investors, who must try to avoid bubbles or, more dangerously, seek them out and ride them. * Reveals what will happen next.
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 : George Cooper
Publisher : Vintage
ISBN 13 : 0307473686
Total Pages : 210 pages
Book Rating : 4.3/5 (74 download)
Download or read book The Origin of Financial Crises written by George Cooper and published by Vintage. This book was released on 2008-12-09 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a series of disarmingly simple arguments financial market analyst George Cooper challenges the core principles of today's economic orthodoxy and explains how we have created an economy that is inherently unstable and crisis prone. With great skill, he examines the very foundations of today's economic philosophy and adds a compelling analysis of the forces behind economic crisis. His goal is nothing less than preventing the seemingly endless procession of damaging boom-bust cycles, unsustainable economic bubbles, crippling credit crunches, and debilitating inflation. His direct, conscientious, and honest approach will captivate any reader and is an invaluable aid in understanding today's economy.
