Download Price and Financial Stability by David Harrison (.PDF)

Price and Financial Stability: Rethinking Financial Markets (Banking, Money and International Finance) by David Harrison
Requirements: .PDF reader, 11 MB
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 than correct, these effects.
Genre: Non-Fiction > General

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