Beyond mechanical markets : asset price swings, risk, and the role of the state /

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"In the wake of the global financial crisis that began in 2007, faith in the rationality of markets has lost ground to a new faith in their irrationality. The problem, Roman Frydman and Michael Goldberg argue, is that both the rational and behavioral theories of the market rest on the same fata...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Frydman, Roman, 1948-
Otros Autores: Goldberg, Michael D., 1958-
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Princeton : Princeton University Press, ©2011.
Temas:
2008-2009
Rational expectations (Economic theory)
Global Financial Crisis, 2008-2009.
Economic forecasting.
Risk.
Keynesian economics.
Securities > Prices.
Crise financière mondiale, 2008-2009.
Prévision économique.
Risque.
Keynésianisme.
Valeurs mobilières > Prix.
POLITICAL SCIENCE > Economic Conditions.
BUSINESS & ECONOMICS > Economics > Macroeconomics.
POLITICAL SCIENCE > Public Policy > Economic Policy.
Economic forecasting
Keynesian economics
Risk
Securities > Prices
Acceso en línea:Texto completo
Tabla de Contenidos:
  • What Went Wrong and What We Can Do about It (The Fatal Flaw
  • Assuming Away What Matters Most
  • The Imperfect Knowledge Alternative
  • Fishermen and Financial Markets
  • The Survival of the Rational Market Myth
  • Opening Economics and Finance to Nonroutine Change and Imperfect Knowledge
  • Imperfect Knowledge Economics and Its Implications
  • A New Understanding of Asset-Price Swings, Risk, and the Role of the State)
  • Part I: The Critique (1. The Invention of Mechanical Markets
  • 2. The Folly of Fully Predetermined History
  • 3. The Orwellian World of "Rational Expectations"
  • 4. The Figment of the "Rational Market"
  • 5. Castles in the Air: The Efficient Market Hypothesis
  • 6. The Fable of Price Swings as Bubbles)
  • Part II: An Alternative (7. Keynes and Fundamentals
  • 8. Speculation and the Allocative Performance of Financial Markets
  • 9. Fundamentals and Psychology in Price Swings
  • 10. Bounded Instability: Linking Risk and Asset-Price Swings
  • 11. Contingency and Markets
  • 12. Restoring the Market-State Balance)
  • Epilogue (What Can Economists Know?
  • The Search for Omniscience
  • Sharp versus Contingent Predictions
  • Recognizing Our Own Imperfect Knowledge
  • Imperfect Knowledge Economics as the Boundary of Macroeconomic Theory References).

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