Financial Market Bubbles and Crashes
Features, Causes, and Effects
(Sprache: Englisch)
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...
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Klappentext zu „Financial Market Bubbles and Crashes “
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, 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 are 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.
Inhaltsverzeichnis zu „Financial Market Bubbles and Crashes “
Part I- Background1. Introduction2. Bubble Stories3. Crash Stories 4. Money and Credit FeaturesPart II- Theories Past5. Random Walks6. Rationality Rules7. Behavioral Beats
Part III- Theories Present and Future8. Bubble Dynamics9. Behavioral Risk Features10. Estimating and Forecasting
Part IV- Round Up11. Financial Asset Bubble Theory
Autoren-Porträt von Harold L. Vogel
Harold (Hal) L. Vogel was the senior entertainment industry analyst at Merrill Lynch and inducted into Institutional Investor magazine's All-America Research Team Hall of Fame in 2011. Holder of a PhD in financial economics, he is also a chartered financial analyst (C.F.A.) and served as an adjunct professor at Columbia University's Graduate School of Business. His books include Entertainment Industry Economics: A Guide for Financial Analysis (10th edition 2020) and Travel Industry Economics: A Guide for Financial Analysis (4th edition 2021). He currently heads an independent investment and consulting firm in New York City.Bibliographische Angaben
- Autor: Harold L. Vogel
- 2021, 3. Aufl., LIV, 579 Seiten, 30 farbige Abbildungen, Maße: 15,5 x 23,5 cm, Gebunden, Englisch
- Verlag: Springer, Berlin
- ISBN-10: 3030791815
- ISBN-13: 9783030791810
Sprache:
Englisch
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