Asset prices and the real economy / edited by Forrest Capie and Geoffrey E. Wood.

Format:

Book

Contributor:

Capie, Forrest.

Wood, Geoffrey E., 1945-

Series:

Studies in banking and international finance

Language:

English

Subjects (All):

Securities--Prices.

Securities.

Negotiable instruments--Prices.

Negotiable instruments.

Real property--Prices.

Real property.

Physical Description:

xi, 286 pages : illustrations ; 23 cm.

Place of Publication:

Houndmills, Basingstoke, Hampshire : Macmillan ; New York : St. Martin's Press, 1997.

Summary:

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 was turned to debt-deflation theories associated in different forms with John Maynard 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.

Notes:

"In association with Centre for Banking and International Finance, City University, London."

Includes bibliographical references and index.

ISBN:

0333628926

0312129831

OCLC:

34475553