New Perspectives on Asset Price Bubbles - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook New Perspectives on Asset Price Bubbles write by Douglas D. Evanoff. This book was released on 2012-02-08. New Perspectives on Asset Price Bubbles available in PDF, EPUB and Kindle. 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.
Asset Price Bubbles
Asset Price Bubbles - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Asset Price Bubbles write by William Curt Hunter. This book was released on 2005. Asset Price Bubbles available in PDF, EPUB and Kindle. A study of asset price bubbles and the implications for preventing financial instability.
New Perspectives on Asset Price Bubbles
New Perspectives on Asset Price Bubbles - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook New Perspectives on Asset Price Bubbles write by Douglas D. Evanoff. This book was released on 2012-02-08. New Perspectives on Asset Price Bubbles available in PDF, EPUB and Kindle. 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.
Optimal Macroprudential Policy and Asset Price Bubbles
Optimal Macroprudential Policy and Asset Price Bubbles - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Optimal Macroprudential Policy and Asset Price Bubbles write by Nina Biljanovska. This book was released on 2019-08-30. Optimal Macroprudential Policy and Asset Price Bubbles available in PDF, EPUB and Kindle. An asset bubble relaxes collateral constraints and increases borrowing by credit-constrained agents. At the same time, as the bubble deflates when constraints start binding, it amplifies downturns. We show analytically and quantitatively that the macroprudential policy should optimally respond to building asset price bubbles non-monotonically depending on the underlying level of indebtedness. If the level of debt is moderate, policy should accommodate the bubble to reduce the incidence of a binding collateral constraint. If debt is elevated, policy should lean against the bubble more aggressively to mitigate the pecuniary externalities from a deflating bubble when constraints bind.
Law, Bubbles, and Financial Regulation
Law, Bubbles, and Financial Regulation - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Law, Bubbles, and Financial Regulation write by Erik F. Gerding. This book was released on 2013-12-04. Law, Bubbles, and Financial Regulation available in PDF, EPUB and Kindle. Financial regulation can fail when it is needed the most. The dynamics of asset price bubbles weaken financial regulation just as financial markets begin to overheat and the risk of crisis spikes. At the same time, the failure of financial regulations adds further fuel to a bubble. This book examines the interaction of bubbles and financial regulation. It explores the ways in which bubbles lead to the failure of financial regulation by outlining five dynamics, which it collectively labels the "Regulatory Instability Hypothesis." . The book concludes by outlining approaches to make financial regulation more resilient to these dynamics that undermine law.
