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Causes of Financial Crises Past and Present: The Role of the This Time is Different Syndrome
Reinhart, Carmen; Rogoff, Kenneth - Volkswirtschaftliche Fakultät, … - 2012
In this note, we attempt to place the question of how we got to the global financial crisis that began as the US Subprime debacle in the summer of 2007 in the context of an international and historical comparative setting. It is of some poignancy that the “we” here refers to the wealthiest...
Persistent link: https://www.econbiz.de/10011259756
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What broke the bubble?
Barnett, William A. - Volkswirtschaftliche Fakultät, … - 2008
This paper is the basis for the Guest Columnist article in the Tuesday, November 11, 2008 issue of the Kansas City Star newspaper's Business Weekly. Because of space limitations, the published newspaper column had to be shortened from the original and unfortunately did not include either of the...
Persistent link: https://www.econbiz.de/10005622040
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Hypotekarna a financna kriza 2008: Priciny, opatrenia, dosledky
Grancay, Martin - Volkswirtschaftliche Fakultät, … - 2008
The 2008 financial crisis has its origins in the US real estate market. By means of purchases of US mortgage-backed securities it spread to the portfolios of financial companies everywhere in the world and it is making its way to the real economy. The measures to be taken include cutting...
Persistent link: https://www.econbiz.de/10005037723
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Puzzle solver
Christian, Mueller-Kademann - Volkswirtschaftliche Fakultät, … - 2009
This paper presents a model for asset markets with a subjectively rational solution for the price of the traded asset. Traders cannot act objectively rational and an increase in the number of traders does not enlarge the information set neccessary for determining the “true” price....
Persistent link: https://www.econbiz.de/10008493601
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Was kostet die Krise? Mittelfristige Wachstumsperspektiven in Deutschland, 2010 - 2014
Buchen, Teresa; Carstensen, Kai; Henzel, Steffen; … - Volkswirtschaftliche Fakultät, … - 2010
2009 ist eine Diskussion darüber entbrannt, inwieweit die derzeitige Finanzkrise Einfluss auf die mittelfristigen … Zeitreihenmodellen abgeschätzt. Die Ergebnisse deuten darauf hin, dass das Niveau des Produktionspotenzials aufgrund der Finanzkrise … durch eine Stagnation des technischen Fortschritts verursacht wird. Die Auswirkungen der Finanzkrise auf die mittelfristige …
Persistent link: https://www.econbiz.de/10008472806
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Rational bubbles in emerging stockmarkets
Nunes, Mauricio; Da Silva, Sergio - Volkswirtschaftliche Fakultät, … - 2007
We detected rational bubbles in 22 emerging stockmarkets using both standard and threshold cointegration. Eighteen … stockmarkets experienced explosive bubbles (and some of them periodically collapsing bubbles as well). The remaining four markets … experienced periodically collapsing bubbles only. …
Persistent link: https://www.econbiz.de/10005836174
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Monetary Policy, Vagabonding Liquidity and Bursting Bubbles in New and Emerging Markets
Schnabl, Gunther; Hoffmann, Andreas - Volkswirtschaftliche Fakultät, … - 2007
contributed to bubbles in the new and emerging markets. Based on the monetary overinvestment theories of Hayek and Wicksell we … describe a wave of bubbles and crises that was initiated in Japan by an expansionary monetary policy in the mid 1980s. After … the burst of the Japanese bubble and sharply declining interest rates in Japan, carry trade transmitted the bubbles to …
Persistent link: https://www.econbiz.de/10005837325
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A behavioral model of bubbles and crashes
Kaizoji, Taisei - Volkswirtschaftliche Fakultät, … - 2010
The aim of this paper is to propose a new model of bubbles and crashes to elucidate a mechanism of bubbles and … ended up with a crash. Furthermore, we describe that cycles of bubbles and crashes are repeated. …
Persistent link: https://www.econbiz.de/10011257785
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Rational bubbles and the spirit of capitalism
Zhou, Ge - Volkswirtschaftliche Fakultät, … - 2011
This paper explores the existence of rational bubbles in the pricing of an asset that pays no dividend. I find that … when "the spirit of capitalism" is introduced into a growth model, rational bubbles do exist provided that the marginal …, could exist. This could provide a simple theoretical foundation to explore economic implications of the collapse of bubbles. …
Persistent link: https://www.econbiz.de/10009328131
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Gaussian and non-Gaussian models for financial bubbles via econophysics
Fry, J. M. - Volkswirtschaftliche Fakultät, … - 2010
We develop a rational expectations model of financial bubbles and study how the risk-return interplay is incorporated …
Persistent link: https://www.econbiz.de/10008765636