Explaining Financial Crises
This book develops a new theoretical approach to the explanation of systemic financial crises in industrial and emerging market countries. In contrast to standard models, the present <I>cyclical</I> approach is consistent with the following three stylized facts. Firstly, systemic financial crises ar...
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| Format: | Online |
| Language: | English |
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Peter Lang International Academic Publishers
2021
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| Online Access: | 1003213 |
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| _version_ | 1869526026821828608 |
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| author | Radke, Marc Peter |
| author_browse | Radke, Marc Peter |
| author_facet | Radke, Marc Peter |
| author_sort | Radke, Marc Peter |
| collection | Directory of Open Access Books |
| description | This book develops a new theoretical approach to the explanation of systemic financial crises in industrial and emerging market countries. In contrast to standard models, the present <I>cyclical</I> approach is consistent with the following three stylized facts. Firstly, systemic financial crises are a recurrent phenomenon generally accompanied by excessive boom-bust cycles. Secondly, the frequency of financial crisis cycles is very irregular. Thirdly, most financial crisis cycles are initiated by positive shocks to profit expectations which induce an unsustainable build-up of financial fragility driven by <I>irrational exuberance</I>. The present approach is based on a sophisticated balancesheet structure with many assets, as well as on an expectation formation scheme which combines the rational expectations hypothesis with Keynes’ <I>Beauty Contest Theory</I>. |
| format | Online |
| id | doab-20.500.12854ir-26090 |
| institution | Directory of Open Access Books |
| language | eng |
| publishDate | 2021 |
| publishDateRange | 2021 |
| publishDateSort | 2021 |
| publisher | Peter Lang International Academic Publishers |
| publisherStr | Peter Lang International Academic Publishers |
| record_format | ojs |
| spelling | doab-20.500.12854ir-260902025-07-30T09:00:27Z Explaining Financial Crises Radke, Marc Peter Approach Beauty Contest Theory Crises Cyclical Explaining Financial Financial Crises Financial Stability Long-Run Rationality Radke Theorie Währungskrise thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCA Economic theory and philosophy thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics::KCBM Monetary economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCA Economic theory and philosophy thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics::KCBM Monetary economics This book develops a new theoretical approach to the explanation of systemic financial crises in industrial and emerging market countries. In contrast to standard models, the present <I>cyclical</I> approach is consistent with the following three stylized facts. Firstly, systemic financial crises are a recurrent phenomenon generally accompanied by excessive boom-bust cycles. Secondly, the frequency of financial crisis cycles is very irregular. Thirdly, most financial crisis cycles are initiated by positive shocks to profit expectations which induce an unsustainable build-up of financial fragility driven by <I>irrational exuberance</I>. The present approach is based on a sophisticated balancesheet structure with many assets, as well as on an expectation formation scheme which combines the rational expectations hypothesis with Keynes’ <I>Beauty Contest Theory</I>. 2021-02-10T12:58:18Z 2019-01-10 23:55 2018-12-01 23:55:55 2020-01-16 13:11:37 2020-04-01T11:26:07Z 2018 book 1003213 OCN: 1082991290 http://library.oapen.org/handle/20.500.12657/26832 9783631754375 https://directory.doabooks.org/handle/20.500.12854/26090 eng Hohenheimer volkswirtschaftliche Schriften open access image/jpeg image/jpeg image/jpeg image/jpeg image/jpeg n/a n/a n/a n/a n/a https://library.oapen.org/bitstream/20.500.12657/26832/1/1003213.pdf https://library.oapen.org/bitstream/20.500.12657/26832/1/1003213.pdf https://library.oapen.org/bitstream/20.500.12657/26832/1/1003213.pdf https://library.oapen.org/bitstream/20.500.12657/26832/1/1003213.pdf https://library.oapen.org/bitstream/20.500.12657/26832/1/1003213.pdf Peter Lang International Academic Publishers 10.3726/b13957 10.3726/b13957 44a712f0-ee17-4c08-a667-46effed595e7 9783631754375 430 Bern open access |
| spellingShingle | Approach Beauty Contest Theory Crises Cyclical Explaining Financial Financial Crises Financial Stability Long-Run Rationality Radke Theorie Währungskrise thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCA Economic theory and philosophy thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics::KCBM Monetary economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCA Economic theory and philosophy thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics::KCBM Monetary economics Radke, Marc Peter Explaining Financial Crises |
| title | Explaining Financial Crises |
| title_full | Explaining Financial Crises |
| title_fullStr | Explaining Financial Crises |
| title_full_unstemmed | Explaining Financial Crises |
| title_short | Explaining Financial Crises |
| title_sort | explaining financial crises |
| topic | Approach Beauty Contest Theory Crises Cyclical Explaining Financial Financial Crises Financial Stability Long-Run Rationality Radke Theorie Währungskrise thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCA Economic theory and philosophy thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics::KCBM Monetary economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCA Economic theory and philosophy thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics::KCBM Monetary economics |
| topic_facet | Approach Beauty Contest Theory Crises Cyclical Explaining Financial Financial Crises Financial Stability Long-Run Rationality Radke Theorie Währungskrise thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCA Economic theory and philosophy thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics::KCBM Monetary economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCA Economic theory and philosophy thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics::KCBM Monetary economics |
| url | 1003213 |
| work_keys_str_mv | AT radkemarcpeter explainingfinancialcrises |