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A következő oldalakon áttekintjük az elmúlt ötven évben kialakult pénzügyi rendszer alapvető működési elveit, és az ezekkel szorosan összefüggő társadalmi meghatározottságokat és pénzügyi feszültségeket. Ezt követően átfogó és specifikus kritikáját adjuk a...
Persistent link: https://www.econbiz.de/10014000245
E bevezetőben és jelen lapszám következő tanulmányaiban egy olyan perspektívát ajánlunk a jelenlegi magyarországi rezsimről szóló vitákhoz, ami a Magyarországon belüli viszonyokat a globális kapitalizmus folyamataihoz való kapcsolódás szempontjából vizsgálja. A 2010 utáni...
Persistent link: https://www.econbiz.de/10014000254
Investors in financial markets face several restrictions apart from wealth constraints. The first attempt to understand these restrictions in a general competitive equilibrium framework can be traced back to Radner (1972). Here these restrictions are assumed to be given exogenously, as first...
Persistent link: https://www.econbiz.de/10009430929
An abundant literature is concerned with the existence of equilibrium in incomplete markets where participation to financial markets is not restricted. To mention a few, Cass (1984), Werner (1985), Geanakoplos and Polemarchakis (1986), Duffie (1987), Duffie and Shafer (1985) and Magill and...
Persistent link: https://www.econbiz.de/10009430939
This dissertation extends previous research on bubbles by investigating whether changes in the financial asset prices of the S&P500 reflect changes in fundamentals. We propose that if this is not the case the volatility is due to a bubble. Hence, this is the general hypothesis from which several...
Persistent link: https://www.econbiz.de/10009431432
A cross-sectional time-series formulation is employed using data gathered for thirty-six firms over a twenty-two year … financial leverage which supports the Williamson asset specificity hypothesis. Neither the cross-sectional nor time series …A cross-sectional time-series formulation is employed using data gathered for thirty-six firms over a twenty-two year …
Persistent link: https://www.econbiz.de/10009431480
The study tested three types of models, i.e. financial, macroeconomic, and the combined financial-macroeconomic model (FINMAC), an aggregation of the expanded Gordon model and the IS-LM model. This was done to determine the impact of certain financial and macroeconomic variables on stock prices...
Persistent link: https://www.econbiz.de/10009431551
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The first paper, "A Theory of Sovereign Debt Valuation," provides a new framework for the valuation of sovereign debt … Pooling Rational Expectations Reputational Equilibrium can arise in our model. (viii) A time series cross sectional analysis …
Persistent link: https://www.econbiz.de/10009472449