New Perspectives on Asset Price Bubbles

Business & Finance, Finance & Investing, Corporate Finance, Finance
Cover of the book New Perspectives on Asset Price Bubbles by , Oxford University Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: ISBN: 9780199939404
Publisher: Oxford University Press Publication: February 8, 2012
Imprint: Oxford University Press Language: English
Author:
ISBN: 9780199939404
Publisher: Oxford University Press
Publication: February 8, 2012
Imprint: Oxford University Press
Language: English

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.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

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.

More books from Oxford University Press

Cover of the book Perfect Children by
Cover of the book Society in the Self by
Cover of the book The Gospel of Kindness by
Cover of the book Cello, Bow and You: Putting it All Together by
Cover of the book Approaches to Teaching the History of the English Language by
Cover of the book Tooth and Claw - Short Stories Level 3 Oxford Bookworms Library by
Cover of the book Beyond the Arab Cold War by
Cover of the book Cajal's Neuronal Forest by
Cover of the book Good God by
Cover of the book Analysis of the Cognitive Interview in Questionnaire Design by
Cover of the book Ovid's Metamorphoses by
Cover of the book Gods, Heroes, & Kings by
Cover of the book Typing Politics by
Cover of the book Philadelphia Stories by
Cover of the book Choral Masterworks by
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy