Financial Market Bubbles and Crashes, Second Edition Features, Causes, and Effects /

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 ra...

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Bibliographic Details
Main Author: Vogel, Harold L. (Author)
Format: Electronic eBook
Language:English
Published: Cham : Springer International Publishing, 2018.
Edition:2nd ed. 2018.
Subjects:
ISBN:9783319715285
Online Access: Get full text
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040 |a Springer-Nature  |b eng  |c CVTISR  |e AACR2 
041 |a eng 
100 1 |a Vogel, Harold L.  |4 aut 
245 1 0 |a Financial Market Bubbles and Crashes, Second Edition  |h [electronic resource] :  |b Features, Causes, and Effects /  |c by Harold L. Vogel. 
250 |a 2nd ed. 2018. 
260 1 |a Cham :  |b Springer International Publishing,  |c 2018. 
300 |a XLIII, 477 p.  |b online resource. 
500 |a Economics and Finance  
505 0 |a 1. Introduction -- 2. Bubble Stories -- 3. Crash Stories -- 4. Money and Credit Features -- 5. Random Walks -- 6. Rationality Rules -- 7. Behavioral Beats -- 8. Bubble Dynamics -- 9. Behavioral Risk Features -- 10. Estimating and Forecasting -- 11. Financial Asset Bubble Theory. 
516 |a text file PDF 
520 |a 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. . 
650 0 |a Finance. 
650 0 |a Financial crises. 
650 0 |a Econometrics. 
650 0 |a Macroeconomics. 
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