| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7421 |
| DP7421 Does Leaving Welfare Improve Health? Evidence for Germany | |
| Michael Lechner; Conny Wunsch; Martin Huber | |
| 发表日期 | 2009-08-23 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | The dangers of shouting ``fire'' in a crowded theater are well understood, but the dangers of rushing to the exit in the financial markets are more complex. Yet, the two events share several features, and I analyze why people crowd into theaters and trades, why they run, what determines the risk, whether to return to the theater or trade when the dust settles, and how much to pay for assets (or tickets) in light of this risk. These theoretical considerations shed light on the recent global liquidity crisis and, in particular, the quant event of 2007. |
| 主题 | Financial Economics ; International Macroeconomics |
| 关键词 | Asset pricing Crisis Liquidity risk Quant Risk management Run Unconventional monetary policy |
| URL | https://cepr.org/publications/dp7421 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536258 |
| 推荐引用方式 GB/T 7714 | Michael Lechner,Conny Wunsch,Martin Huber. DP7421 Does Leaving Welfare Improve Health? Evidence for Germany. 2009. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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