Some important characteristics of asset bubbles and financial crises
This paper first discusses the major characteristics of the seeding stage, the development stage and the final stage of an asset bubble. In particular, it emphasizes the role of expectation, some major changes in economic behaviors, financial leveraging, some important vicious cycles, upward spir...
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| Format: | Journal Article |
| Language: | English |
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2021
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| Online Access: | https://hdl.handle.net/10356/146509 |