New perspectives on asset price bubbles [electronic resource] : theory, evidence and policy / edited by Douglas D. Evanoff, George G. Kaufman and A.G. Malliaris
- Machine generated contents note: pt. I INTRODUCTION -- ch. 1 New Perspectives on Asset Price Bubbles: An Overview / A.G. Malliaris -- pt. II BUBBLES: THEORY AND EVIDENCE -- ch. 2 Churning Bubbles / Gary Gorton -- ch. 3 Rethinking Theoretical Models of Bubbles: Reflections Inspired by the Financial Crisis and Allen and Gorton's Paper "Churning Bubbles" / Gadi Barlevy -- pt. III CONSEQUENCES OF BUBBLES BURSTING -- ch. 4 The Japanese Banking Crisis: Where Did It Come From and How Will It End? / Anil Kashyap -- ch. 5 The Impact of the International Financial Crisis on Asia and the Pacific: Highlighting Monetary Policy Challenges from a Negative Asset Price Bubble Perspective / Andrew Filardo -- pt. IV BUBBLES AND MONETARY POLICY -- ch. 6 Monetary Policy and Asset Price Volatility / Mark Gertler -- ch. 7 Monetary Policy and Asset Price Volatility: Should We Refill the Bernanke-Gertler Prescription? / Kenneth N. Kuttner -- pt. V BUBBLES AND MACROPRUDENTIAL REGULATION -- ch. 8 Towards a Macroprudential Framework for Financial Supervision and Regulation? / Claudio Borio -- ch. 9 Bank Liquidity and Bubbles: Why Central Banks Should Lean against Liquidity / Hassan Naqvi -- pt. VI BUBBLES: BEHAVIORAL EXPLANATIONS -- ch. 10 Overconfidence and Speculative Bubbles / Wei Xiong -- ch. 11 Asset Bubbles: Insights from Behavioral Finance / Werner De Bondt -- pt. VII BUBBLES: KEYNOTE PRESENTATIONS -- ch. 12 An Old Perspective on Asset Price Bubbles Policy / William Poole -- ch. 13 Struggling to Escape from "Assumption 14" / Benjamin M. Friedman -- pt. VIII NEW IDEAS ON ASSET PRICE BUBBLES -- ch. 14 Monetary Policy and Stock Market Booms / Massimo Rostagno -- ch. 15 Leverage and Bubbles: The Need to Manage the Leverage Cycle / John Geanakoplos -- pt. IX ASSET BUBBLES, CENTRAL BANKS AND INVESTMENTS -- ch. 16 Asset Price Bubbles and Central Bank Policies: The Crash of the "Jackson Hole Consensus" / A.G. Malliaris -- ch. 17 Do Bubbles Lead to Overinvestment? A Revealed Preference Approach / Huntley Schaller.
- This title critically re-examines the profession's understanding of asset price bubbles in light of the global financial crisis of 2007-2009. Taking a novel approach, the book presents classic work that represents accepted thinking about asset bubbles prior to the financial crisis. It also includes original chapters challenging orthodox thinking and presenting new insights. A summary chapter highlights the lessons learned and experiences gained since the crisis.
- 9780190258504 (ebook)
- Bibliography Note:
- Includes bibliographical references and index.
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