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dc.contributor.authorRadke, Marc Peter
dc.date.accessioned2021-02-10T12:58:18Z
dc.date.issued2018
dc.date.submitted2019-01-10 23:55
dc.date.submitted2018-12-01 23:55:55
dc.date.submitted2020-01-16 13:11:37
dc.date.submitted2020-04-01T11:26:07Z
dc.identifier1003213
dc.identifierOCN: 1082991290
dc.identifierhttp://library.oapen.org/handle/20.500.12657/26832
dc.identifier.urihttps://directory.doabooks.org/handle/20.500.12854/26090
dc.description.abstractThis 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>.
dc.languageEnglish
dc.relation.ispartofseriesHohenheimer volkswirtschaftliche Schriften
dc.rightsopen access
dc.subject.classificationbic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCA Economic theory & philosophy
dc.subject.classificationbic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCB Macroeconomics::KCBM Monetary economics
dc.subject.otherApproach
dc.subject.otherBeauty Contest Theory
dc.subject.otherCrises
dc.subject.otherCyclical
dc.subject.otherExplaining
dc.subject.otherFinancial
dc.subject.otherFinancial Crises
dc.subject.otherFinancial Stability
dc.subject.otherLong-Run Rationality
dc.subject.otherRadke
dc.subject.otherTheorie
dc.subject.otherWährungskrise
dc.titleExplaining Financial Crises
dc.title.alternativeA Cyclical Approach
dc.typebook
oapen.identifier.doi10.3726/b13957
oapen.relation.isPublishedByf6ba26fb-2881-41c1-848a-f9628b869216
oapen.relation.isbn9783631754375
oapen.pages430
oapen.place.publicationBern
dc.seriesnumber53


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