Asset Bubbles.:

In distilling a vast literature spanning the rational- irrational divide, this paper offers reflections on why asset bubbles continue to threaten economic stability despite financial markets becoming more informationally-efficient, more complete, and more heavily influenced by sophisticated (i.e. pr...

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Bibliographische Detailangaben
1. Verfasser: Jones, Bradley
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington : International Monetary Fund, 2015.
Schriftenreihe:IMF Working Papers.
Schlagworte:
Online-Zugang:Volltext
Zusammenfassung:In distilling a vast literature spanning the rational- irrational divide, this paper offers reflections on why asset bubbles continue to threaten economic stability despite financial markets becoming more informationally-efficient, more complete, and more heavily influenced by sophisticated (i.e. presumably rational) institutional investors. Candidate explanations for bubble persistence-such as limits to learning, frictional limits to arbitrage, and behavioral errors-seem unsatisfactory as they are inconsistent with the aforementioned trends impacting global capital markets. In lieu of the sho.
Beschreibung:1 online resource (60 pages)
ISBN:9781498304153
149830415X

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