| 来源类型 | Policy insights |
| 规范类型 | 论文 |
| 来源ID | Policy Insight 97 |
| Policy Insight 97: Herd behaviour in asset market booms and crashes: the role of monetary policy | |
| Stefano Micossi; Fabrizia Peirce; Alexandra D'Onofrio | |
| 发表日期 | 2019-10-08 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | One important conclusion of Robert Shiller?s influential 2015 book, Irrational Exuberance, is that bubbles are random exogenous phenomena that cannot be foreseen and do not depend on macroeconomic policies. This CEPR Policy Insight throws light on the root causes of speculative fevers in asset markets and related financial booms and busts. It shows empirical evidence indicating that Shiller may have overlooked the role that lax monetary policy played in triggering financial bubbles in the 2000s by offering investors a perverse promise of ever-increasing asset prices. |
| URL | https://cepr.org/publications/policy-insight-97-herd-behaviour-asset-market-booms-and-crashes-role-monetary-policy |
| 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/546705 |
| 推荐引用方式 GB/T 7714 | Stefano Micossi,Fabrizia Peirce,Alexandra D'Onofrio. Policy Insight 97: Herd behaviour in asset market booms and crashes: the role of monetary policy. 2019. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| PolicyInsight97.pdf（749KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
| Policy insight 97.pn（46KB） | 智库出版物 | 限制开放 | CC BY-NC-SA |  浏览 | ||
| 文件名： | Policy insight 97.png |
| 格式： | image/png |
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