Economic Uncertainty Instabilities And Asset Bubbles Selected Essays

Author : Anastasios G Malliaris
Publisher : World Scientific
ISBN 13 : 9814480045
Total Pages : 373 pages
Book Rating : 4.48/5 ( download)

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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 : Harold L. Vogel
Publisher : Cambridge University Press
ISBN 13 : 1316101576
Total Pages : 471 pages
Book Rating : 4.75/5 ( download)

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Download or read book Financial Market Bubbles and Crashes written by Harold L. Vogel and published by Cambridge University Press. This book was released on 2009-12-14 with total page 471 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the thousands of articles and the millions of times that the word 'bubble' has been used in the business press, there still does not appear to be a cohesive theory or persuasive empirical approach with which to study 'bubble' and 'crash' conditions. This book presents a plausible and accessible descriptive theory and empirical approach to the analysis of such financial market conditions. It advances such a framework through application of standard econometric methods to its central idea, which is that financial bubbles reflect urgent short side rationed demand. From this basic idea, an elasticity of variance concept is developed. It is further shown that a behavioral risk premium can probably be measured and related to the standard equity risk premium models in a way that is consistent with conventional theory.

Author : Harold L. Vogel
Publisher : Springer
ISBN 13 : 3319715283
Total Pages : 477 pages
Book Rating : 4.85/5 ( download)

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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 : Jan A. Kregel
Publisher : Anthem Press
ISBN 13 : 1783083824
Total Pages : 376 pages
Book Rating : 4.24/5 ( download)

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Download or read book Economic Development and Financial Instability written by Jan A. Kregel and published by Anthem Press. This book was released on 2014-10-15 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: Jan A. Kregel is considered to be “the best all-round general economist alive” (G. C. Harcourt). This is the first collection of his essays dealing with a wide range of topics reflecting the incredible depth and breadth of Kregel’s work. These essays focus on the role of finance in development and growth. Kregel has expanded Minsky’s original postulate that in capitalist economies stability engenders instability in international economy, and this volume collect’s Kregel’s key works devoted to financial instability, its causes and effects. The volume also contains Kregel’s most recent discussions of the Great Recession beginning in 2008.

Author : Éric Tymoigne
Publisher : Routledge
ISBN 13 : 1135976732
Total Pages : 337 pages
Book Rating : 4.36/5 ( download)

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Download or read book Central Banking, Asset Prices and Financial Fragility written by Éric Tymoigne and published by Routledge. This book was released on 2008-11-21 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book Tymoigne argues that financial stability should be the sole goal of central banks and suggests an alternative to the inflation targeting framework showing how interest-rate policy can help to solve some of the problems faced by central bankers.

Author :
Publisher :
ISBN 13 :
Total Pages : 772 pages
Book Rating : 4.78/5 ( download)

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Download or read book Choice written by and published by . This book was released on 2006 with total page 772 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : William Curt Hunter
Publisher : MIT Press
ISBN 13 : 9780262582537
Total Pages : 650 pages
Book Rating : 4.38/5 ( download)

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Download or read book Asset Price Bubbles written by William Curt Hunter and published by MIT Press. This book was released on 2005 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt: A study of asset price bubbles and the implications for preventing financial instability.

Author : Joseph E. Stiglitz
Publisher : Oxford University Press
ISBN 13 : 0199533717
Total Pages : 904 pages
Book Rating : 4.18/5 ( download)

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Download or read book Selected Works of Joseph E. Stiglitz written by Joseph E. Stiglitz and published by Oxford University Press. This book was released on 2009 with total page 904 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second in a series of six volumes containing a selection of Joseph Stiglitz's most important and widely cited work. Volume I set out the basic concepts underlying the economics of information. Volume II extends these concepts and applies them to a number of different settings in labour, capital, and product markets

Author : Lorenzo Magnani
Publisher : Springer
ISBN 13 : 3319305263
Total Pages : 1180 pages
Book Rating : 4.64/5 ( download)

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Download or read book Springer Handbook of Model-Based Science written by Lorenzo Magnani and published by Springer. This book was released on 2017-05-22 with total page 1180 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook offers the first comprehensive reference guide to the interdisciplinary field of model-based reasoning. It highlights the role of models as mediators between theory and experimentation, and as educational devices, as well as their relevance in testing hypotheses and explanatory functions. The Springer Handbook merges philosophical, cognitive and epistemological perspectives on models with the more practical needs related to the application of this tool across various disciplines and practices. The result is a unique, reliable source of information that guides readers toward an understanding of different aspects of model-based science, such as the theoretical and cognitive nature of models, as well as their practical and logical aspects. The inferential role of models in hypothetical reasoning, abduction and creativity once they are constructed, adopted, and manipulated for different scientific and technological purposes is also discussed. Written by a group of internationally renowned experts in philosophy, the history of science, general epistemology, mathematics, cognitive and computer science, physics and life sciences, as well as engineering, architecture, and economics, this Handbook uses numerous diagrams, schemes and other visual representations to promote a better understanding of the concepts. This also makes it highly accessible to an audience of scholars and students with different scientific backgrounds. All in all, the Springer Handbook of Model-Based Science represents the definitive application-oriented reference guide to the interdisciplinary field of model-based reasoning.

Author :
Publisher :
ISBN 13 :
Total Pages : 298 pages
Book Rating : 4.68/5 ( download)

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Download or read book Journal of Economic Literature written by and published by . This book was released on 2006-06 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: