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The EMU sovereign-debt crisis: Fundamentals, expectations and contagion
Arghyrou, Michael G.; Kontonikas, Alexandros - Department of Economics, Adam Smith Business School - 2010
experienced contagion from Greece. There is no evidence of significant speculation effects originating from CDS markets. Finally …
Persistent link: https://www.econbiz.de/10008678561
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The EMU sovereign-debt crisis: Fundamentals, expectations and contagion
Arghyrou, Michael; Kontonikas, Alexandros - Economics Section, Cardiff Business School - 2010
experienced contagion from Greece. There is no evidence of significant speculation effects originating from CDS markets. Finally …
Persistent link: https://www.econbiz.de/10008680817
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On the Existence and Prevention of Asset Price Bubbles
Hakenes, Hendrik; Enders, Zeno - Max-Planck-Institut zur Erforschung von … - 2010
We develop a model of rational bubbles based on the assumptions of unknown market liquidity and limited liability of … condition for whether rational bubbles are possible. Based on this analysis, we discuss several widely-discussed policy measures … with respect to their effectiveness in preventing bubbles. A reduction of manager bonuses or a Tobin tax can create or …
Persistent link: https://www.econbiz.de/10008693528
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Subprime Crisis and Instability of Global Financial Markets
Radonjić, Ognjen; Zec, Miodrag - In: Panoeconomicus 57 (2010) 2, pp. 209-224
In order to prescribe adequate remedies to treat the current financial crisis one has to understand what in the first place went wrong. An age ago, older generations wrote that disease could not be cured without an accurate diagnosis. In contrast to mainstream “efficient markets hypothesis”...
Persistent link: https://www.econbiz.de/10008554186
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Labor Busted, Rising Inequality and the Financial Crisis of 1929: An Unlearned Lesson
Wisman, Jon D. - 2013
Although the Great Depression and the financial crisis of 1929 that triggered it have been endlessly studied, there is little consensus and even much puzzlement as to why they occurred. This article claims that beneath the many causal factors that have been advanced lie deeper underlying...
Persistent link: https://www.econbiz.de/10011163300
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Theoretical Notes on Bubbles and the Current Crisis
Martin, Alberto; Ventura, Jaume - Barcelona Graduate School of Economics (Barcelona GSE) - 2010
We explore a view of the crisis as a shock to investor sentiment that led to the collapse of a bubble or pyramid scheme in financial markets. We embed this view in a standard model of the financial accelerator and explore its empirical and policy implications. In particular, we show how the...
Persistent link: https://www.econbiz.de/10010851442
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Bubbles and Central Banks: Historical Perspectives
Brunnermeier, Markus K; Schnabel, Isabel - C.E.P.R. Discussion Papers - 2015
This paper reviews some of the most prominent asset price bubbles from the past 400 years and documents how central … banks (or other institutions) reacted to those bubbles. The historical evidence suggests that the emergence of bubbles is … also suggests that a purely passive “cleaning up the mess” stance toward the buildup of bubbles is, in many cases, costly …
Persistent link: https://www.econbiz.de/10011249380
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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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Theoretical notes on bubbles and the current crisis
Martin, Alberto; Ventura, Jaume - Department of Economics and Business, Universitat … - 2010
We explore a view of the crisis as a shock to investor sentiment that led to the collapse of a bubble or pyramid scheme in financial markets. We embed this view in a standard model of the financial accelerator and explore its empirical and policy implications. In particular, we show how the...
Persistent link: https://www.econbiz.de/10008587798
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Theoretical Notes on Bubbles and the Current Crisis
Martin, Alberto; Ventura, Jaume - C.E.P.R. Discussion Papers - 2010
We explore a view of the crisis as a shock to investor sentiment that led to the collapse of a bubble or pyramid scheme in financial markets. We embed this view in a standard model of the financial accelerator and explore its empirical and policy implications. In particular, we show how the...
Persistent link: https://www.econbiz.de/10008684673