Asset Prices and the Real Economy Forrest Capie

ISBN: 9780333628928

Published: January 1st 1997

Hardcover

286 pages


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Asset Prices and the Real Economy  by  Forrest Capie

Asset Prices and the Real Economy by Forrest Capie
January 1st 1997 | Hardcover | PDF, EPUB, FB2, DjVu, audiobook, mp3, RTF | 286 pages | ISBN: 9780333628928 | 9.72 Mb

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 toMoreThe 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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