Die erheblichen Turbulenzen an den Finanzmärkten, die Talfahrten von Aktienkursen sowie die Veränderung der relativen Attraktivität unterschiedlicher Anlageformen beeinflussen die Investitionsentscheidungen von Anlegern. In der Studie untersucht das HWWI die Rentabilität von Investitionen in...

The Nature of Manias, Bubbles and Crashes: Introduction -- Value Trading vs. Momentum Trading -- The Rise of Manias and Bubbles -- Stages in the Boom-Bubble-Bust Sequence -- Fueling the Boom - Role of the Media -- Bubbles, Wealth and Inflation -- Speculations, Bootstraps and Swindles -- The...

We show that the specific factors model can be used to derive a rigorous link between movements in stock prices and productivity, wages, employment, output, and welfare. We also prove that the commonly used measure of the effective rate of protection equals the dual measure of revenue TFP,...