Financial market bubbles and crashes: features, causes, and effects
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cham
Palgrave Macmillan
[2021]
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| Ausgabe: | Third edition |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | liv, 579 Seiten Illustrationen, Diagramme |
| ISBN: | 9783030791810 |
Internformat
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Datensatz im Suchindex
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| adam_text | Contents Part I Background 1 Introduction 1.1 Overview 1.2 On the Nature of Humansand Bubbles Macro Aspects Utility and Independence Psychology, Money, and Trust 1.3 Central Features 1.4 On Defining Bubbles 1.5 Credit, Debt, and Commonalities Credits and Debts Commonalities References 3 3 8 8 13 14 17 21 25 25 26 43 2 Bubble Stories 2.1 Tulips 2.2 England and France, 1700s South Sea Bubble Mississippi Bubble 2.3 British Railway and OtherNineteenth-Century Manias 2.4 The Roaring Twenties 2.5 Japan 1980s 55 55 57 57 60 62 64 68 XXXV
Contents XXXVI 2.6 2.7 Tech/Intemet Stocks, 1987 and 2000 Housing, Credit, and Commodities, 2002-2008 Housing and Credit Commodities 2.8 Yield-Chasing, 2009-2021 2.9 Conclusions References 74 82 82 88 91 98 127 3 Crash Stories 3.1 Crashes, Panics, and Collapses The Virus Crash of 2020 Business-Cycle Aspects 3.2 Nowhere to Hide 3.3 Storm Cats Crash Comparisons Crash Intesity Rankings 3.4 Conclusions References 147 148 154 157 159 162 162 164 166 179 4 Money and Credit Features 4.1 Historical Perspectives Theories Realities 4.2 Liquidity Issues 4.3 Role of Central Banks 4.4 Conclusions References 189 189 189 193 196 198 207 230 5 Behavioral Beats 5.1 Overview 5.2 Biases, Violations, and Correlations 5.3 Response Inversion and Feedback 5.4 Herding 5.5 Anomalies 5.6 Conclusions References 243 243 247 249 251 254 258 2 67 Part II 6 Theories Past Random Walks 6.1 The Efficient Market Hypothesis 6.2 Modern Portfolio Theory Models 279 280 282
Contents xxxvii 6.3 Volatility Aspects Volatility and Modern Portfolio Theory Volatility Implications 6.4 Conclusions References 286 287 289 294 309 Rationality Rules Rational Expectations 7.1 Asset Bubble and Crash Analyses 7.2 Rational Bubbles and Crashes Other Studies Testing Methods Flow of Funds Factors Crashes Math Takes Over 7.3 Power Laws Chaos Concepts Brownian Motions 7.4 Conclusions References 317 317 320 323 326 330 334 336 339 339 341 343 344 364 III Theories Present and Future Bubble Dynamics Building Blocks 8.1 Equity Risk Premiums 8.2 Definitions Estimation Problems Elasticity, Equilibrium, and Exponentiality 8.3 TPUTs and Path Lengths Elasticity Equilibrium Exponentiality Transactions Volume Aspects 8.4 Conclusions 8.5 References 383 383 385 385 386 394 394 396 398 401 404 405 420 Behavioral Risk Features Behavioral Risk Premium 9.1 Two-Component Premiums 9.2 High-Anxiety Smiles 9.3 9.4 Transactions Per Unit Time 429 429 430 431 434
Contents xxxviii 10 Conclusions 9.5 References 438 442 Estimating and Forecasting 10.1 Preliminaries At Peaks and Troughs Runs Variance 10.2 EOV Bubbles and Crashes 10.3 Empirical Results 10.4 Predictability, Forecasting, and Market Meteorology Predictability Forecasting Market Meteorology 10.5 Conclusions References 445 445 445 446 448 449 451 453 453 456 457 459 467 Part IV 11 Round Up Financial Asset Bubble Theory 11.1 Research Results 11.2 Knowns and Conjectures Knowns Conjectures 11.3 Further Research Directions References 473 476 477 478 479 479 482 Glossary 485 References 493 Index 577
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| adam_txt |
Contents Part I Background 1 Introduction 1.1 Overview 1.2 On the Nature of Humansand Bubbles Macro Aspects Utility and Independence Psychology, Money, and Trust 1.3 Central Features 1.4 On Defining Bubbles 1.5 Credit, Debt, and Commonalities Credits and Debts Commonalities References 3 3 8 8 13 14 17 21 25 25 26 43 2 Bubble Stories 2.1 Tulips 2.2 England and France, 1700s South Sea Bubble Mississippi Bubble 2.3 British Railway and OtherNineteenth-Century Manias 2.4 The Roaring Twenties 2.5 Japan 1980s 55 55 57 57 60 62 64 68 XXXV
Contents XXXVI 2.6 2.7 Tech/Intemet Stocks, 1987 and 2000 Housing, Credit, and Commodities, 2002-2008 Housing and Credit Commodities 2.8 Yield-Chasing, 2009-2021 2.9 Conclusions References 74 82 82 88 91 98 127 3 Crash Stories 3.1 Crashes, Panics, and Collapses The Virus Crash of 2020 Business-Cycle Aspects 3.2 Nowhere to Hide 3.3 Storm Cats Crash Comparisons Crash Intesity Rankings 3.4 Conclusions References 147 148 154 157 159 162 162 164 166 179 4 Money and Credit Features 4.1 Historical Perspectives Theories Realities 4.2 Liquidity Issues 4.3 Role of Central Banks 4.4 Conclusions References 189 189 189 193 196 198 207 230 5 Behavioral Beats 5.1 Overview 5.2 Biases, Violations, and Correlations 5.3 Response Inversion and Feedback 5.4 Herding 5.5 Anomalies 5.6 Conclusions References 243 243 247 249 251 254 258 2 67 Part II 6 Theories Past Random Walks 6.1 The Efficient Market Hypothesis 6.2 Modern Portfolio Theory Models 279 280 282
Contents xxxvii 6.3 Volatility Aspects Volatility and Modern Portfolio Theory Volatility Implications 6.4 Conclusions References 286 287 289 294 309 Rationality Rules Rational Expectations 7.1 Asset Bubble and Crash Analyses 7.2 Rational Bubbles and Crashes Other Studies Testing Methods Flow of Funds Factors Crashes Math Takes Over 7.3 Power Laws Chaos Concepts Brownian Motions 7.4 Conclusions References 317 317 320 323 326 330 334 336 339 339 341 343 344 364 III Theories Present and Future Bubble Dynamics Building Blocks 8.1 Equity Risk Premiums 8.2 Definitions Estimation Problems Elasticity, Equilibrium, and Exponentiality 8.3 TPUTs and Path Lengths Elasticity Equilibrium Exponentiality Transactions Volume Aspects 8.4 Conclusions 8.5 References 383 383 385 385 386 394 394 396 398 401 404 405 420 Behavioral Risk Features Behavioral Risk Premium 9.1 Two-Component Premiums 9.2 High-Anxiety Smiles 9.3 9.4 Transactions Per Unit Time 429 429 430 431 434
Contents xxxviii 10 Conclusions 9.5 References 438 442 Estimating and Forecasting 10.1 Preliminaries At Peaks and Troughs Runs Variance 10.2 EOV Bubbles and Crashes 10.3 Empirical Results 10.4 Predictability, Forecasting, and Market Meteorology Predictability Forecasting Market Meteorology 10.5 Conclusions References 445 445 445 446 448 449 451 453 453 456 457 459 467 Part IV 11 Round Up Financial Asset Bubble Theory 11.1 Research Results 11.2 Knowns and Conjectures Knowns Conjectures 11.3 Further Research Directions References 473 476 477 478 479 479 482 Glossary 485 References 493 Index 577 |
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| illustrated | Illustrated |
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| isbn | 9783030791810 |
| language | English |
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| spelling | Vogel, Harold L. 1946- Verfasser (DE-588)1011436361 aut Financial market bubbles and crashes features, causes, and effects Harold L. Vogel Third edition Cham Palgrave Macmillan [2021] © 2021 liv, 579 Seiten Illustrationen, Diagramme txt rdacontent n rdamedia nc rdacarrier Capital market Financial crises Commercial crimes Business cycles Speculation Spekulative Blase (DE-588)4450213-8 gnd rswk-swf Finanzkrise (DE-588)7635855-0 gnd rswk-swf Finanzkrise (DE-588)7635855-0 s Spekulative Blase (DE-588)4450213-8 s b DE-604 Erscheint auch als Online-Ausgabe 978-3-030-79182-7 Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=033094772&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Vogel, Harold L. 1946- Financial market bubbles and crashes features, causes, and effects Capital market Financial crises Commercial crimes Business cycles Speculation Spekulative Blase (DE-588)4450213-8 gnd Finanzkrise (DE-588)7635855-0 gnd |
| subject_GND | (DE-588)4450213-8 (DE-588)7635855-0 |
| title | Financial market bubbles and crashes features, causes, and effects |
| title_auth | Financial market bubbles and crashes features, causes, and effects |
| title_exact_search | Financial market bubbles and crashes features, causes, and effects |
| title_exact_search_txtP | Financial market bubbles and crashes features, causes, and effects |
| title_full | Financial market bubbles and crashes features, causes, and effects Harold L. Vogel |
| title_fullStr | Financial market bubbles and crashes features, causes, and effects Harold L. Vogel |
| title_full_unstemmed | Financial market bubbles and crashes features, causes, and effects Harold L. Vogel |
| title_short | Financial market bubbles and crashes |
| title_sort | financial market bubbles and crashes features causes and effects |
| title_sub | features, causes, and effects |
| topic | Capital market Financial crises Commercial crimes Business cycles Speculation Spekulative Blase (DE-588)4450213-8 gnd Finanzkrise (DE-588)7635855-0 gnd |
| topic_facet | Capital market Financial crises Commercial crimes Business cycles Speculation Spekulative Blase Finanzkrise |
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