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We define rational bubbles to be securities with payoffs occurring in the infinitely distant future and investigate the behavior of bubble values. We extend our analysis to a setting of uncertainty. In an infinite-horizon arbitrage-free model of asset prices, we interpret the money market...
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In the chaotic financial environment of Asia in 1997-1998, daily changes in stock prices of about 10 percent became …
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systems like those in East Asia to short-term foreign currency exposure suggests that preventive measures are also required. …
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We assess links between China and the rest of emerging Asia. Some commentators have argued that China’s apparent …
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large current account surpluses across non-China emerging Asia, which have been a significant counterpart to the U … investment decisions in emerging Asia, and that as the restructuring completes its course, investment rates will likely rise to …
Persistent link: https://www.econbiz.de/10005368306
these two markets with the regulatory environment for banks in Japan, with Japan's overall external financial position, as … environment in Japan, including restraints on interest rates, and possible quantitative restraints, has had an important impact on … States as substitutes for their head offices in extending commercial and industrial loans to Japan-based companies as well as …
Persistent link: https://www.econbiz.de/10005368172