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Economie et marchés financiers : perspectives 2010-2020.
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ISBN: 9782212544787 Year: 2010 Publisher: Paris Editions d'organisation

Australia's money mandarins : the reserve bank and the politics of money
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ISBN: 0521839904 0521689899 0511550731 Year: 2004 Publisher: Cambridge : Cambridge University Press,

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Abstract

For most of its life the Reserve Bank of Australia (RBA) has led a fairly conservative existence. However, since the early 1980s the economy has experienced financial and market deregulation and general economic liberalisation. The RBA has been caught up with the turbulent policy debates that have ensued. Australia's Money Mandarins, first published in 2004, tells the story of the RBA since the early 1980s. It discusses how the Bank operated in the new political environment created by deregulation and the fight against inflation. It describes the conflicts with the government and the Department of Treasury, and how the bank dealt with the rough and tumble of politics and managed to assert a level of independence in the 1990s. Including frank interviews with key figures like Bob Johnson, Bernie Fraser, Ian Macfarlane and Paul Keating this book will appeal to anyone with an interest in the politics of money.


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Financial market bubbles and crashes
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ISBN: 9780521199674 0521199670 9780511806650 9781316103722 1316103722 0511806655 9781316100806 1316100804 1316097331 1316101444 1316098370 1316102211 1316099903 9783319715285 3319715283 3319715275 1316098516 Year: 2010 Publisher: Cambridge : Cambridge University Press,

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Despite the thousands of articles and the millions of times that the word 'bubble' has been used in the business press, there still does not appear to be a cohesive theory or persuasive empirical approach with which to study 'bubble' and 'crash' conditions. This book presents a plausible and accessible descriptive theory and empirical approach to the analysis of such financial market conditions. It advances such a framework through application of standard econometric methods to its central idea, which is that financial bubbles reflect urgent short side rationed demand. From this basic idea, an elasticity of variance concept is developed. It is further shown that a behavioral risk premium can probably be measured and related to the standard equity risk premium models in a way that is consistent with conventional theory.


Book
La liquidité incontrôlable : qui va maîtriser la monnaie mondiale?
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ISBN: 9782744073601 2744073601 Year: 2010 Publisher: Paris Pearson Education

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Les marchés financiers. Voyage au coeur de la finance mondiale
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ISBN: 2708130323 Year: 2004 Publisher: Paris Ed. d'Organisation

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Financial assets, debt, and liquidity crises : a Keynesian approach
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ISBN: 9781107004931 9780511792540 9781139101004 1139101005 9781139101660 1139101668 0511792549 9781139103466 1139103466 9781139099660 1139099663 9786613341884 6613341886 1107004934 1139097628 9781139097628 1139887300 9781139887304 1283341883 9781283341882 1139098977 9781139098977 1107546664 Year: 2011 Publisher: Cambridge : Cambridge University Press,

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The macroeconomic development of most major industrial economies is characterised by boom-bust cycles. Normally such boom-bust cycles are driven by specific sectors of the economy. In the financial meltdown of the years 2007-9 it was the credit sector and the real-estate sector that were the main driving forces. This book takes on the challenge of interpreting and modelling this meltdown. In doing so it revives the traditional Keynesian approach to the financial-real economy interaction and the business cycle, extending it in several important ways. In particular, it adopts the Keynesian view of a hierarchy of markets and introduces a detailed financial sector into the traditional Keynesian framework. The approach of the book goes beyond the currently dominant paradigm based on the representative agent, market clearing and rational economic agents. Instead it proposes an economy populated with heterogeneous, rationally bounded agents attempting to cope with disequilibria in various markets.

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