Explaining Financial Crises : A Cyclical Approach (Volume 53.0)
eBook - PDF

Explaining Financial Crises : A Cyclical Approach (Volume 53.0)

  1. English
  2. PDF
  3. Available on iOS & Android
eBook - PDF

Explaining Financial Crises : A Cyclical Approach (Volume 53.0)

About this book

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 cyclical 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 irrational exuberance. 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' Beauty Contest Theory.

Frequently asked questions

Yes, you can cancel anytime from the Subscription tab in your account settings on the Perlego website. Your subscription will stay active until the end of your current billing period. Learn how to cancel your subscription.
At the moment all of our mobile-responsive ePub books are available to download via the app. Most of our PDFs are also available to download and we're working on making the final remaining ones downloadable now. Learn more here.
Perlego offers two plans: Essential and Complete
  • Essential is ideal for learners and professionals who enjoy exploring a wide range of subjects. Access the Essential Library with 800,000+ trusted titles and best-sellers across business, personal growth, and the humanities. Includes unlimited reading time and Standard Read Aloud voice.
  • Complete: Perfect for advanced learners and researchers needing full, unrestricted access. Unlock 1.4M+ books across hundreds of subjects, including academic and specialized titles. The Complete Plan also includes advanced features like Premium Read Aloud and Research Assistant.
Both plans are available with monthly, semester, or annual billing cycles.
We are an online textbook subscription service, where you can get access to an entire online library for less than the price of a single book per month. With over 1 million books across 1000+ topics, we’ve got you covered! Learn more here.
Look out for the read-aloud symbol on your next book to see if you can listen to it. The read-aloud tool reads text aloud for you, highlighting the text as it is being read. You can pause it, speed it up and slow it down. Learn more here.
Yes! You can use the Perlego app on both iOS or Android devices to read anytime, anywhere — even offline. Perfect for commutes or when you’re on the go.
Please note we cannot support devices running on iOS 13 and Android 7 or earlier. Learn more about using the app.
Yes, you can access Explaining Financial Crises : A Cyclical Approach (Volume 53.0) by Marc Peter Radke in PDF and/or ePUB format, as well as other popular books in Economics & Economic Theory. We have over one million books available in our catalogue for you to explore.

Table of contents

  1. Cover
  2. Preface
  3. List of Figures
  4. List of Tables
  5. 1 Introduction and Overview
  6. I Theoretical and Empirical Foundations
  7. II A Cyclical Theory of Financial Crises
  8. A Tobin’s q-Theory of Investment
  9. B Financial Constraints in Perfect Capital Markets
  10. C An Example of Off-Balance Sheet Transactions
  11. D Forward vs. Backward Looking Variables and Solutions of General Dynamic Rational Expectations Models
  12. E Kalecki’s Theory of Profits
  13. Symbol Glossary
  14. Bibliography