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The empirical joint distribution of return-pairs on stock indices displays high tail-dependence in the lower tail and low tail-dependence in the upper tail. The presence of tail-dependence is not compatible with the assumption of (conditional) joint normality. The presence of asymmetric-tail...
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interplay between the macro-economic imbalances, notably in the relationship between the USA and China, and the more micro … book. In the disputes about the relative culpability of China and the USA for current macro-economic problems, they tend to … emerging market economies, while the US, Japan and Europe have laboured under the great recession. The authors examine global …
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1. The rapidly changing world economy -- 2. The great recession -- 3. Global finance and payments imbalances -- 4. The role of monetary policy -- 5. The post-crisis world -- 6. China's prospects and challenges -- 7. The US external position -- 8. The redback, the greenback and the troubled euro...
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"Davies's book examines the financial panics of 1873, considering both the financial speculations born of exuberance that led to these panics and the interpretative speculations born of the crises, and exploring what this in turn reveals about contemporary notions of the world economy and...
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The year 1873 was one of financial crisis. A boom in railway construction had spurred a bull market-but when the boom turned to bust, transatlantic panic quickly became a worldwide economic downturn. In Transatlantic Speculations, Hannah Catherine Davies offers a new lens on the panics of 1873...
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Cover page -- Halftitle page -- Title page -- Copyright page -- Dedication -- CONTENTS -- FIGURES -- ACKNOWLEDGEMENTS -- INTRODUCTION The Needle (and the Damage Done) -- The Needle -- The Damage Done -- What Went Wrong -- PART I ANATOMY OF THE NORTH ATLANTIC FINANCIAL CRISIS -- Chapter 1...
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