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Stability in International Finance

Frederick Betz - Personal Name;

Why are international fi nancial systems unstable? To understand this, one must use
a proper model for a fi nancial market—a model which is not just normative but
empirically valid. The traditional market model of price-equilibrium, while valid for
commodity markets, is not empirically valid for fi nancial markets. Instead, fi nancial
markets must be understood in a price-disequilibrium model. A price- disequilibrium
model traces back to the studies of Irving Fisher, John Maynard Keynes, and Hyman
Minsky.
We present here a three-dimensional supply-demand model which can depict
how, over time, a fi nancial market can move from a price-equilibrium toward pricedisequilibrium, due to speculation—a fi nancial bubble.
Financial bubbles occurred in the Asian Financial crisis in 1989, the Global
Financial crisis in 2007–2008, and the Euro crisis of 2010–2015; and these bubbles
have depressed national economies. They recur, despite the sophisticated
information- communications technology of the modern Internet. Why?


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Detail Information
Series Title
-
Call Number
-
Publisher
London : Springer., 2016
Collation
-
Language
English
ISBN/ISSN
978-3-319-26760-9
Classification
NONE
Content Type
text
Media Type
computer
Carrier Type
online resource
Edition
-
Subject(s)
-
Specific Detail Info
-
Statement of Responsibility
Frederick Betz
Other Information
Cataloger
Jemadi
Source
https://link.springer.com/content/pdf/10.1007/978-3-319-26760-9.pdf?pdf=button
Other version/related

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