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portada Asset Prices and the Real Economy
Type
Physical Book
Publisher
Author
Year
1997
Language
English
Pages
286
Format
Hardcover
ISBN
0333628926
ISBN13
9780333628928
Edition No.
1997
Categories

Asset Prices and the Real Economy

Capie, Forrest (Author) · Palgrave Macmillan · Hardcover

Asset Prices and the Real Economy - capie, forrest

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Synopsis "Asset Prices and the Real Economy "

The recession which many countries experienced in the early 1990s had certain unusual aspects. Most notably, and common to all countries, was the behaviour of asset prices relative to the general price level. In consequence, reasons were sought to explain the special characteristics of the recession and as a result of the behaviour of asset prices attention turned to 'Debt-Deflation Theories' associated in different forms with Keynes and Irving Fisher. The contributors to this volume discuss the significance of debt deflation. Their striking common feature is that, on the evidence presented here, the behaviour of asset prices should not be of great concern to policy makers, or to those attempting to understand economic behaviour. However, residual doubts remain over the Japanese case.

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