Stocks, Flows, and Uncertainty
Title | Stocks, Flows, and Uncertainty PDF eBook |
Author | James Meadway |
Publisher | |
Pages | 0 |
Release | 2013 |
Genre | Equilibrium (Economics) |
ISBN |
The Stock-Flow Consistent Approach
Title | The Stock-Flow Consistent Approach PDF eBook |
Author | Marc Lavoie |
Publisher | Springer |
Pages | 314 |
Release | 2011-12-12 |
Genre | Business & Economics |
ISBN | 0230353843 |
Selected essays from the eminent economist, Wynne Godley, tracing the development of his work and illuminating the key theories and models that made his name. Essays focus not only on the stock-flow coherent approach, but also lay out Godley's views about the European Union and the stability of its monetary policy.
Liquidity Preference, Uncertainty, and Recession in a Stock-Flow Consistent Model
Title | Liquidity Preference, Uncertainty, and Recession in a Stock-Flow Consistent Model PDF eBook |
Author | Yannis Dafermos |
Publisher | |
Pages | |
Release | 2018 |
Genre | |
ISBN |
This paper develops a stock-flow consistent model that explicitly integrates the role of liquidity preference and perceived uncertainty into the decision-making process of households, firms, and commercial banks. Emphasis is placed on (1) the link between the precautionary motive and the asset choice of the private sector, (2) the effect of perceived uncertainty on the desired margins of safety and borrowing, and (3) the impact of financial obligations on the liquidity preference of households and firms. Performing a simulation experiment, the paper illuminates the channels through which a rise in perceived uncertainty is likely to set off a recessionary process.
Investment under Uncertainty
Title | Investment under Uncertainty PDF eBook |
Author | Robert K. Dixit |
Publisher | Princeton University Press |
Pages | 484 |
Release | 2012-07-14 |
Genre | Business & Economics |
ISBN | 1400830176 |
How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending. This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.
Volatility
Title | Volatility PDF eBook |
Author | Robert A. Schwartz |
Publisher | Springer Science & Business Media |
Pages | 152 |
Release | 2010-11-18 |
Genre | Business & Economics |
ISBN | 1441914749 |
Volatility is very much with us in today's equity markets. Day-to-day price swings are often large and intra-day volatility elevated, especially at market openings and closings. What explains this? What does this say about the quality of our markets? Can short-period volatility be controlled by better market design and a more effective use of electronic technology? Featuring insights from an international array of prominent academics, financial markets experts, policymakers and journalists, the book addresses these and other questions concerning this timely topic. In so doing, we seek deeper knowledge of the dynamic process of price formation, and of the market structure and regulatory environment within which our markets function. The Zicklin School of Business Financial Markets Series presents the insights emerging from a sequence of conferences hosted by the Zicklin School at Baruch College for industry professionals, regulators, and scholars. Much more than historical documents, the transcripts from the conferences are edited for clarity, perspective and context; material and comments from subsequent interviews with the panelists and speakers are integrated for a complete thematic presentation. Each book is focused on a well delineated topic, but all deliver broader insights into the quality and efficiency of the U.S. equity markets and the dynamic forces changing them.
How Novelty and Narratives Drive the Stock Market
Title | How Novelty and Narratives Drive the Stock Market PDF eBook |
Author | Nicholas Mangee |
Publisher | Cambridge University Press |
Pages | 451 |
Release | 2021-10-14 |
Genre | Business & Economics |
ISBN | 1108983588 |
'Animal spirits' is a term that describes the instincts and emotions driving human behaviour in economic settings. In recent years, this concept has been discussed in relation to the emerging field of narrative economics. When unscheduled events hit the stock market, from corporate scandals and technological breakthroughs to recessions and pandemics, relationships driving returns change in unforeseeable ways. To deal with uncertainty, investors engage in narratives which simplify the complexity of real-time, non-routine change. This book assesses the novelty-narrative hypothesis for the U.S. stock market by conducting a comprehensive investigation of unscheduled events using big data textual analysis of financial news. This important contribution to the field of narrative economics finds that major macro events and associated narratives spill over into the churning stream of corporate novelty and sub-narratives, spawning different forms of unforeseeable stock market instability.
Uncertainty in Forecasting and Policy Formation
Title | Uncertainty in Forecasting and Policy Formation PDF eBook |
Author | V. Lewis Bassie |
Publisher | |
Pages | 48 |
Release | 1959 |
Genre | Business forecasting |
ISBN |