New Perspectives on Asset Price Bubbles

ÉditeurDouglas D. Evanoff

|anglais
31 mai 2016|
New Perspectives on Asset Price Bubbles de Douglas D. Evanoff

description

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.

Titre :New Perspectives on Asset Price Bubbles
Format :livre numérique Kobo
Publié le :31 mai 2016
Publié par :Oxford University Press
Langue :anglais
Convient aux âges :Tous les âges
ISBN - 13 :9780199939404

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