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Record Nr. |
UNINA9910460179003321 |
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Autore |
Jones Brad |
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Titolo |
Asset bubbles : re-thinking policy for the age of asset management / / Brad Jones ; authorized for distribution by Luc Everaert |
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Pubbl/distr/stampa |
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[Washington, District of Columbia] : , : International Monetary Fund, , 2015 |
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©2015 |
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ISBN |
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1-4983-9762-X |
1-4983-0415-X |
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Descrizione fisica |
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1 online resource (60 p.) |
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Collana |
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IMF Working Paper ; ; WP/15/27 |
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Disciplina |
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Soggetti |
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Asset-liability management |
Financial risk management |
Monetary policy |
Economic policy |
Electronic books. |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Cover; Abstract; Contents; I. Introduction; Figures; Figure 1. Worldwide Financial Assets and Institutional Assets; Figure 2. Bank Assets vs. Investment Firm Assets under Management; II. The 'Clean vs. Lean' Debate: A Survey; Tables; Table 1. Dimensions of the Traditional 'Clean vs. Lean' Debate; III. Theories of (In)Efficient Markets and Speculative Bubbles; A. Bubbles and the (In)Efficiency of Markets - A Review; B. Competing Models of Bubble Formation and Persistence; Table 2. Stylized Summary of Asset Pricing/Bubble Models; Figure 3. Benchmark Decomposition of Hedge Fund Returns |
Figure 4. Subjective vs. Objective Expected Returns IV. Policy Implications; Table 3. Mapping Policy Responses to Bubble Models; Figure 5. Relative 10-year Annualized Out performance of Fundamental-based Indices; V. Concluding Remarks and Future Research |
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Sommario/riassunto |
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In distilling a vast literature spanning the rational- irrational divide, this paper offers reflections on why asset bubbles continue to threaten |
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