Financial Market Crisis as a Phenomenon of Stock Market Overshooting. A Theoretical Analysis
An overly expansionary monetary policy stance (particularly in the USA) fuelled speculation on stock markets; when the bubble burst, economies fell into recession. These mechanisms are explained in a theoretical model with three inter-acting markets for money, equities and goods.
Volume (Year): 15 (2010)
Issue (Month): 1 (April)
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- Reinhart, Carmen, 2009.
"The Second Great Contraction,"
21485, University Library of Munich, Germany.
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