Asset Bubbles.

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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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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Jones, Bradley
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington : International Monetary Fund, 2015.
Colección:IMF Working Papers.
Temas:
Asset-liability management.
Financial risk management.
Monetary policy.
Economic policy.
Gestion des actifs et des passifs.
Finances > Gestion du risque.
Politique monétaire.
Politique économique.
BUSINESS & ECONOMICS > Finance.
Asset-liability management
Economic policy
Financial risk management
Monetary policy
Acceso en línea:Texto completo
Tabla de Contenidos:
  • Cover; Abstract; Contents; I. Introduction; Figures; Figure 1. Worldwide Financial Assets and Institutional Assets; Figure 2. Bank Assets vs. Investment Firm Assets under Management; II. The 'Clean vs. Lean' Debate: A Survey; Tables; Table 1. Dimensions of the Traditional 'Clean vs. Lean' Debate; III. Theories of (In)Efficient Markets and Speculative Bubbles; A. Bubbles and the (In)Efficiency of Markets
  • A Review; B. Competing Models of Bubble Formation and Persistence; Table 2. Stylized Summary of Asset Pricing/Bubble Models; Figure 3. Benchmark Decomposition of Hedge Fund Returns.
  • Figure 4. Subjective vs. Objective Expected ReturnsIV. Policy Implications; Table 3. Mapping Policy Responses to Bubble Models; Figure 5. Relative 10-year Annualized Outperformance of Fundamental-based Indices; V. Concluding Remarks and Future Research.

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