Exploring Aggregate Asset Price Fluctuations Across Countries
Author : C. E. V. Borio
Publisher :
Page : 108 pages
File Size : 34,64 MB
Release : 1994
Category : Accounting and price fluctuations
ISBN :
Author : C. E. V. Borio
Publisher :
Page : 108 pages
File Size : 34,64 MB
Release : 1994
Category : Accounting and price fluctuations
ISBN :
Author : C. E. V. Borio
Publisher :
Page : 108 pages
File Size : 32,32 MB
Release : 1994
Category : Accounting and price fluctuations
ISBN :
Author : Douglas D. Evanoff
Publisher : Oxford University Press
Page : 482 pages
File Size : 24,9 MB
Release : 2012-02-08
Category : Business & Economics
ISBN : 0199939403
This volume critically re-examines the profession's understanding of asset bubbles in light of the global financial crisis of 2007-09. It is well known that bubbles have occurred in the past, with the October 1929 crash as the most demonstrative example. However, the remarkably well-behaved performance of the US economy from 1945 to 2006, and, in particular during the Great Moderation period of 1984 to 2006, assured the economics profession and monetary policymakers that asset bubbles could be effectively managed with little or no real economic impact. The recent financial crisis has now triggered a debate about the emergence of a sequence of repeated bubbles in the Nasdaq market, housing market, credit market, and commodity markets. The realities of the crisis have intensified theoretical modeling, empirical methodologies, and debate on policy issues surrounding asset price bubbles and their potentially adverse economic impact if poorly managed. Taking a novel approach, the editors of this book present five classic papers that represent accepted thinking about asset bubbles prior to the financial crisis. They also include original papers challenging orthodox thinking and presenting new insights. A summary essay highlights the lessons learned and experiences gained since the crisis.
Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 216 pages
File Size : 16,2 MB
Release : 2004-11-23
Category : Business & Economics
ISBN : 9781589063518
This paper tests uncovered interest parity (UIP) using interest rates on longer maturity bonds for the Group of Seven countries. These long-horizon regressions yield much more support for UIP—all of the coefficients on interest differentials are of the correct sign, and almost all are closer to the UIP value of unity than to zero. The paper also analyzes the decision by a government facing electoral uncertainty to implement structural reforms in the presence of fiscal restraints similar to the Stability and Growth Pact.
Author : Forrest Capie
Publisher : Springer
Page : 295 pages
File Size : 20,90 MB
Release : 2016-01-15
Category : Business & Economics
ISBN : 1349254096
The recession which many countries experienced in the early 1990s had certain unusual aspects. Most notably, and common to all countries, was the behaviour of asset prices relative to the general price level. In consequence, reasons were sought to explain the special characteristics of the recession and as a result of the behaviour of asset prices attention turned to 'Debt-Deflation Theories' associated in different forms with Keynes and Irving Fisher. The contributors to this volume discuss the significance of debt deflation. Their striking common feature is that, on the evidence presented here, the behaviour of asset prices should not be of great concern to policy makers, or to those attempting to understand economic behaviour. However, residual doubts remain over the Japanese case.
Author : William Curt Hunter
Publisher : MIT Press
Page : 650 pages
File Size : 49,62 MB
Release : 2005
Category : Business & Economics
ISBN : 9780262582537
A study of asset price bubbles and the implications for preventing financial instability.
Author : Mehmet Ugur
Publisher : Psychology Press
Page : 568 pages
File Size : 11,63 MB
Release : 2002
Category : Business & Economics
ISBN : 9780415253314
This book draws together the seminal contributions to the literature on the nature of macroeconomics in open economies and illuminates the material. This is an essential guide to the subject for students.
Author : Michel Aglietta
Publisher : Verso Books
Page : 433 pages
File Size : 25,35 MB
Release : 2018-10-23
Category : Political Science
ISBN : 1786634414
The major French economist offers a new theory of money As the financial crisis reached its climax in September 2008, the most important figure on the planet was Federal Reserve chairman Ben Bernanke. The whole financial system was collapsing, with little to stop it. When a senator asked Bernanke what would happen if the central bank did not carry out its rescue package, he replied, “If we don’t do this, we may not have an economy on Monday.” What saved finance, and the Western economy, was fiscal and monetary stimulus – an influx of money, created ad hoc. It was a strategy that raised questions about the unexamined nature of money itself, an object suddenly revealed as something other than a neutral signifier of value. Through its grip on finance and the debt system, money confers sovereign power on the economy. If confidence in money is not maintained, crises follow. Looking over the last 5,000 years, Michel Aglietta explores the development of money and its close connection to sovereign power. This book employs the tools of anthropology, history and political economy in order to analyse how political structures and monetary systems have transformed one another. We can thus grasp the different eras of monetary regulation and the crises capitalism has endured throughout its history.
Author : Max Watson
Publisher : Routledge
Page : 464 pages
File Size : 23,50 MB
Release : 2009-12-16
Category : Business & Economics
ISBN : 1135354995
First Published in 2008. Routledge is an imprint of Taylor & Francis, an informa company.
Author : Lars Jonung
Publisher : Taylor & Francis
Page : 464 pages
File Size : 49,5 MB
Release :
Category :
ISBN : 1857434862
Examines the effect of the introduction of the Euro and the establishment of economic and monetary union on the financial landscape of Europe.