Price and Financial Stability: Rethinking Financial Markets

by D M Harrison

Book Overview

Why are financial prices so much more crisis-prone and unstable than real economy prices? Because they are doing different things. Unlike real economy prices, rooted in the real goods and services produced and exchanged, financial prices attempt to value future income flows from financial and capital assets. These valuations fluctuate erratically because expectations of the future fluctuate - and large liquid financial markets can amplify, rather...

• Format: Paperback
• Language: English
• ISBN: 0367590654
• ISBN13: 9780367590659
• Release Date: August 2020
• Publisher: Routledge
• Length: 118 Pages
• Weight: 0.42 lbs.
• Dimensions: 0.3" x 6.1" x 9.2"