Explaining Financial Crises

Name: Explaining Financial Crises
Brand: Peter Lang GmbH
SKU: 9783631543504
Price: 123.91 EUR
Availability: InStock

A Cyclical Approach

Автор: Marc Peter Radke

Език:

Корици: С меки корици

Издател: Peter Lang GmbH

Наличност: Външен склад

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123.91 € 242.34 лв

This book develops a new theoretical approach to the explanation of systemic financial crises in ind...

Информация за книгата

Автор

Marc Peter Radke

Език

Английски език

Корици

Книга - С меки корици

Издадена

2005

страници

430

EAN

9783631543504

ISBN

9783631543504

Enbook ID

10021937

Издател

Peter Lang GmbH

Теглоt

560

Размери

210 x 150 x 24

Пълно описание

This book develops a new theoretical approach to the explanation of systemic financial crises in industrial and emerging market countries. In contrast to standard models, the present cyclical approach is consistent with the following three stylized facts. Firstly, systemic financial crises are a recurrent phenomenon generally accompanied by excessive boom-bust cycles. Secondly, the frequency of financial crisis cycles is very irregular. Thirdly, most financial crisis cycles are initiated by positive shocks to profit expectations which induce an unsustainable build-up of financial fragility driven by irrational exuberance. The present approach is based on a sophisticated balancesheet structure with many assets, as well as on an expectation formation scheme which combines the rational expectations hypothesis with Keynes' Beauty Contest Theory.

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Explaining Financial Crises

A Cyclical Approach

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