Famous First Bubbles

Author: Peter M. Garber
Editor: MIT Press
ISBN: 9780262571531
File Size: 24,81 MB
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This book offers market-fundamental explanations for the three most famous bubbles: the Dutch Tulipmania (1634-1637), the Mississippi Bubble (1719-1720), and the closely connected South Sea Bubble (1720).

Speculative Bubbles Speculative Attacks And Policy Switching

Author: Robert P. Flood
Editor: MIT Press
ISBN: 9780262061698
File Size: 62,60 MB
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Robert Flood and Peter Garber confess to a "fixation on understanding extreme events" such as speculative bubbles, currency reforms, and speculative attacks on fixed exchange rate regimes and metallic monetary standards—all markers of economic change. This book brings together their research in these areas during the 1980s and early 1990s, highlighting in particular the close relation of their work on bubbles to that of policy switching, or understanding the impact of prospective and past policy changes on individual economic behavior. Among the earliest contributors to the policy switching literature, Flood and Garber note that policy switching has become popular because the approach permits economists to come to grips with peculiar behavior that surrounds crises and other discrete events. The approach has also allowed economists to combine their understanding of economic behavior in times of crisis with observations of behavior during more normal times. The papers in the book are grouped into three sections: the first on price bubbles is primarily financial; the second on speculative attacks (on exchange rate regimes) is international in scope; and the third, on policy switching, is concerned with monetary policy.

The Economics Of Enough

Author: Diane Coyle
Editor: Princeton University Press
ISBN: 0691156298
File Size: 72,26 MB
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The world's leading economies are facing not just one but many crises. The financial meltdown may not be over, climate change threatens major global disruption, economic inequality has reached extremes not seen for a century, and government and business are widely distrusted. At the same time, many people regret the consumerism and social corrosion of modern life. What these crises have in common, Diane Coyle argues, is a reckless disregard for the future--especially in the way the economy is run. How can we achieve the financial growth we need today without sacrificing a decent future for our children, our societies, and our planet? How can we realize what Coyle calls "the Economics of Enough"? Running the economy for tomorrow as well as today will require a wide range of policy changes. The top priority must be ensuring that we get a true picture of long-term economic prospects, with the development of official statistics on national wealth in its broadest sense, including natural and human resources. Saving and investment will need to be encouraged over current consumption. Above all, governments will need to engage citizens in a process of debate about the difficult choices that lie ahead and rebuild a shared commitment to the future of our societies. Creating a sustainable economy--having enough to be happy without cheating the future--won't be easy. But The Economics of Enough starts a profoundly important conversation about how we can begin--and the first steps we need to take.

Money Changes Everything

Author: William N. Goetzmann
Editor: Princeton University Press
ISBN: 0691178372
File Size: 15,29 MB
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"[A] magnificent history of money and finance."--New York Times Book Review “Convincingly makes the case that finance is a change-maker of change-makers.”--Financial Times In the aftermath of recent financial crises, it's easy to see finance as a wrecking ball: something that destroys fortunes and jobs, and undermines governments and banks. In Money Changes Everything, leading financial historian William Goetzmann argues the exact opposite—that the development of finance has made the growth of civilizations possible. Goetzmann explains that finance is a time machine, a technology that allows us to move value forward and backward through time; and that this innovation has changed the very way we think about and plan for the future. He shows how finance was present at key moments in history: driving the invention of writing in ancient Mesopotamia, spurring the classical civilizations of Greece and Rome to become great empires, determining the rise and fall of dynasties in imperial China, and underwriting the trade expeditions that led Europeans to the New World. He also demonstrates how the apparatus we associate with a modern economy—stock markets, lines of credit, complex financial products, and international trade—were repeatedly developed, forgotten, and reinvented over the course of human history. Exploring the critical role of finance over the millennia, and around the world, Goetzmann details how wondrous financial technologies and institutions—money, bonds, banks, corporations, and more—have helped urban centers to expand and cultures to flourish. And it's not done reshaping our lives, as Goetzmann considers the challenges we face in the future, such as how to use the power of finance to care for an aging and expanding population. Money Changes Everything presents a fascinating look into the way that finance has steered the course of history.

Stock Market Crashes And Speculative Manias

Author: Eugene Nelson White
Editor: Edward Elgar Pub
ISBN:
File Size: 45,36 MB
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A collection of articles published between the 1920s and the 1990s on speculative manias and stock market crashes, highlighting their similarities. Looks at the mania for tulips in Holland in the 17th century, schemes to refinance government debt in 18th-century France and Britain, the volatile American stock and real estate markets of the 19th century, and parallels between the stock market crashes of 1929 and 1987. Raises basic questions about the stability of capital markets and the potential for regulation. No index. Annotation copyright by Book News, Inc., Portland, OR

Monetary Policy And Asset Price Bubbles

Author: Andrew Joseph Filardo
Editor:
ISBN:
File Size: 26,57 MB
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The issue of monetary policy and asset prices has been receiving much attention not only because it is an interesting topic for macroeconomists but also because central banks have faced daunting challenges from large swings in various types of asset prices. To some extent, the achievement of a low, stable inflation environment has not simultaneously brought about a more stable asset price environment. The record over the past decade, in fact, has raised the prospect of asset price booms and busts as a permanent feature of the monetary policy landscape. This paper lays out a general framework to explore some of the key monetary policy trade-offs presented by asset prices, with particular emphasis on the role of asset price bubbles. The paper first discusses what economists mean by asset price bubbles before putting forward a stylised macroeconomic model in which a monetary authority can influence the behaviour, in only an indirect way, of the path of asset prices. The baseline model suggests that central banks should systematically respond to asset price developments generally and asset price bubbles specifically. Indeed, there are good reasons for the central bank to focus only on asset price bubbles, rather than the fundamental component of asset prices, when calibrating its monetary policy response. This general result does not depend on the volatility of asset prices per se or necessarily on the ability to distinguish fundamental movements in asset prices from asset price bubbles. The paper then introduces a form of uncertainty - intrinsic paradigm uncertainty about the existence of bubbles - to show how policymakers might want to weigh the options of responding or not responding in such an environment. The paper then goes beyond the confines of the model to offer insights about issues such as moral hazard, non-linearities, multivariate bubbles and communication strategies.

A History Of Global Consumption

Author: Ina Baghdiantz McCabe
Editor: Routledge
ISBN: 1317652649
File Size: 38,60 MB
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In A History of Global Consumption: 1500 – 1800, Ina Baghdiantz McCabe examines the history of consumption throughout the early modern period using a combination of chronological and thematic discussion, taking a comprehensive and wide-reaching view of a subject that has long been on the historical agenda. The title explores the topic from the rise of the collector in Renaissance Europe to the birth of consumption as a political tool in the eighteenth century. Beginning with an overview of the history of consumption and the major theorists, such as Bourdieu, Elias and Barthes, who have shaped its development as a field, Baghdiantz McCabe approaches the subject through a clear chronological framework. Supplemented by illlustrations in every chapter and ranging in scope from an analysis of the success of American commodities such as tobacco, sugar and chocolate in Europe and Asia to a discussion of the Dutch tulip mania, A History of Global Consumption: 1500 – 1800 is the perfect guide for all students interested in the social, cultural and economic history of the early modern period.

Journal Of Economic Literature

Author:
Editor:
ISBN:
File Size: 74,47 MB
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Bubbles In Credit And Currency

Author: Brendan Brown
Editor: Palgrave MacMillan
ISBN:
File Size: 57,48 MB
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Drawing on behavioral finance theory and contemporary experience, this book explores how bubbles form and subsequently burst. The author introduces a new concept of swings in market temperature defined by the extent of heterogeneity of opinion and soft irrationality, and examines the importance of these swings in the credit markets.

The Oxford Encyclopedia Of The Modern World

Author: Peter N. Stearns
Editor:
ISBN:
File Size: 35,92 MB
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Political Ecosystems

Author: J. P. Harpignies
Editor:
ISBN: 9780972066297
File Size: 67,79 MB
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Cultural Writing. Politics. Environmentalism. POLITICAL ECOSYSTEMS is a highly original text that argues those of us who are left-progressives and environmentalists need to engage in rigorous self-examination, better assessing their political strengths and weaknesses, if they ever hope to achieve our goals. Harpignies argues left/progressives must cultivate more sophisticated ways of looking at the culture, by addressing little-discussed, but very real divides-from the communitarian/libertarian dichotomy to that of techno-utopians and neo-Luddites. This thoroughly researched yet accessible book is a polemic, but one that does not promote specific views and positions. The book is ultimately a toolbox to help progressives expand their understanding of politics and help them develop better strategies for championing their cause.

American Book Publishing Record

Author:
Editor:
ISBN:
File Size: 55,18 MB
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Aanwinsten Van De Centrale Bibliotheek Queteletfonds

Author: Bibliothèque centrale (Fonds Quetelet)
Editor:
ISBN:
File Size: 57,46 MB
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Carnival On Wall Street

Author: Jane Elizabeth Hughes
Editor: John Wiley & Sons Incorporated
ISBN:
File Size: 15,68 MB
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With high-flying acrobats like Cisco and Lucent, IPO sideshows such as China.com, and tantalizing tales of rags to riches, Wall Street in the 1990s was a massive global carnival affecting billions of people throughout the world. Carnival on Wall Street examines the roots of the blind faith in free markets, globalization, technology, and financial models that both fueled and ultimately doomed global financial markets in the 1990s. Authors Jane Hughes and Scott MacDonald guide readers through the factors--financial, economic, and political--at work in the Wall Street stock market bubble. Both entertaining and easy-to-read, the text takes an applied approach that brings this fascinating decade to life through intriguing anecdotes about real people and real events.

Working Paper Series

Author:
Editor:
ISBN:
File Size: 31,53 MB
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Financial History

Author:
Editor:
ISBN:
File Size: 19,68 MB
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Business Week

Author:
Editor:
ISBN:
File Size: 56,86 MB
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Dollar Adjustment How Far Against What

Author:
Editor: Peterson Institute
ISBN: 9780881325843
File Size: 38,70 MB
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The dollar rose about 35 percent in real terms from 1995 to the end of 2001, supporting the US economy of the late 1990s but pushing the current account deficit to a record high. This book looks at the impact of this, examining intervention to achieve desired currency values and the impact of a major dollar realignment on worldwide economies.

Financial Economics

Author: Brian Kettell
Editor: Ft Press
ISBN:
File Size: 27,78 MB
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In the last 20 years there has been a revolution in the way financial economists understand the financial market place. The announcement that the 1990 Nobel prize for Economics had been awarded to three financial economists acknowledged that financial economics is now a subject in its own right and needs to be studied as such. Financial Economics brings this science out of the realms of academia and into the hands of those that can most use it. This fusion of economics, finance and statistics now enables investors to gain a true understanding of how the markets behave and how to perfect their trading strategies. The book demystifies financial economics in a manner that will provide you with a thorough understanding that can be immediately put into practice without overwhelming you with the trivial. It looks at what exactly financial economics is, its founding fathers and their theories, its role in the valuation of financial assets and recent developments in the field. Chapters within the book also investigate more closely modern portfolio theory, capital market theory, behavioural finance, bubbleology, some puzzles in financial markets and the relationship between derivatives markets and financial economics. Financial Economics is essential reading for dealers, analysts, newcomers to the financial markets, and finance professionals across the board who need to maintain their edge at the forefront of developments in financial markets.