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000339010 05000 $$aHG4523$$b.V64 2010
000339010 08200 $$a338.5/42$$222
000339010 1001_ $$aVogel, Harold L.,$$d1946-
000339010 24510 $$aFinancial market bubbles and crashes /$$cHarold L. Vogel.
000339010 260__ $$aNew York :$$bCambridge University Press,$$c2010.
000339010 300__ $$axxvi, 358 p. :$$bill. ;$$c25 cm.
000339010 504__ $$aIncludes bibliographical references and index.
000339010 5050_ $$aPart I. Background for analysis -- 1. Introduction -- 2. Bubble stories -- 3. Random walks -- 4. Bubble theories -- 5. Framework for investigation -- Part II. Empirical features and results -- 6. Bubble basics -- 7. Bubble dynamics -- 8. Money and credit features -- 9. Behavioral risk features -- 10. Crashes, panics, and chaos -- 11. Financial asset bubble theory.
000339010 520__ $$a"Despite the thousands of articles and the millions of times that the word 'bubble' has been used in the business press, there still does not appear to be a cohesive theory or persuasive empirical approach with which to study 'bubble' and 'crash' conditions. This book presents a plausible and accessible descriptive theory and empirical approach to the analysis of such financial market conditions. It advances such a framework through application of standard econometric methods to its central idea, which is that financial bubbles reflect urgent short side rationed demand. From this basic idea, an elasticity of variance concept is developed. It is further shown that a behavioral risk premium can probably be measured and related to the standard equity risk premium models in a way that is consistent with conventional theory"--Provided by publisher.
000339010 520__ $$a"One would think that economists would by now have already developed a solid grip on how financial bubbles form and how to measure and compare them. This is not the case. Despite the thousands of articles in the professional literature and the millions of times that the word "bubble" has been used in the business press, there still does not appear to be a cohesive theory or persuasive empirical approach with which to study "bubble" and "crash" conditions. This book presents what is meant to be a plausible and accessible descriptive theory and empirical approach to the analysis of such financial market conditions. It advances such a framework through application of standard econometric methods to its central idea, which is that financial bubbles reflect urgent short side rationed demand. From this basic idea, an elasticity of variance concept is developed. The notion that easy credit provides fuel for bubbles is supported. It is further shown that a behavioral risk premium can probably be measured and related to the standard equity risk premium models in a way that is consistent with conventional theory"--Provided by publisher.
000339010 650_0 $$aCapital market.
000339010 650_0 $$aFinancial crises.
000339010 650_0 $$aCommercial crimes.
000339010 85200 $$bgen$$hHG4523$$i.V64$$i2010
000339010 85642 $$3Cover image$$uhttp://assets.cambridge.org/97805211/99674/cover/9780521199674.jpg
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000339010 980__ $$aBIB
000339010 980__ $$aBOOK