Эксоцман
на главную поиск contacts

Bubbles and Crises

Опубликовано на портале: 16-03-2005
Economic Journal. 2000.  Vol. 110. No. 460. P. 236-255. 
Тематический раздел:
In recent financial crises a bubble, in which asset prices rise, is followed by a collapse and widespread default. Bubbles are caused by agency relationships in the banking sector. Investors use money borrowed from banks to invest in risky assets, which are relatively attractive because investors can avoid losses in low payoff states by defaulting on the loan. This risk shifting leads investors to bid up the asset prices. Risk can originate in both the real and financial sectors. Financial fragility occurs when positive credit expansion is insufficient to prevent a crisis.



Статья рекомендована при изучении программы Corporate Finance and Financial Crises (Allen F.)

Ссылки
http://www.ingentaconnect.com/content/bpl/ecoj/2000/00000110/00000460/art00499;jsessionid=540lwl5pb88nw.henrietta
BiBTeX
RIS
Ключевые слова

См. также:
Елена Николаевна Лобанова, Михаил Александрович Лимитовский
[Книга]
G. Andrew Karolyi, Rene M. Stulz
[Книга]
Lutz Kruschwitz, Dorothea Schafer, Mike Schwake
[Книга]
Е.С. Рузанов
Экономические науки. 2011.  № 1. С. 165-169. 
[Статья]
Robert Hoogewys
Университетское управление. 1997.  № 1(1).
[Статья]