Money, memory and asset prices
In this book, prominent economic researcher Pascal Blanqué offers his theory on the effect of memory on the economic cycle and provides an analysis of stock market phenomena and their dynamics. Placing time at the heart of the global dynamic of the financial sphere, the first part of the book provid...
Guardat en:
| Autor principal: | |
|---|---|
| Format: | Livre papier |
| Idioma: | Anglais |
| Publicat: |
Paris :
Economica
DL 2010.
|
| Matèries: | |
| Nota: |
Traduit de : "Théorie globale de l'intérêt, du cycle et de la mémoire" pour la partie 1 et de : "La dynamique boursière" pour la partie 2 |
| Autres localisations: | Voir dans le Sudoc |
| Sumari: | In this book, prominent economic researcher Pascal Blanqué offers his theory on the effect of memory on the economic cycle and provides an analysis of stock market phenomena and their dynamics. Placing time at the heart of the global dynamic of the financial sphere, the first part of the book provides keys to interpret the current economic system and its imbalances. Blanqué believes that everything economic-related is reducible to a time differential. The various states of global economic balance, as well as the economic dynamics that determine that balance, are based on the value given to time, in particular, to memory and forgetfulness. This assigned value governs preferences and substitutions between goods, services, and financial assets; steers the monetary dynamics of liquidity; and ultimately determines prices and activity. In the second part of the book, Blanqué gives his insider s view on how the stock marcket really works. He describes a psychological space-time reference frame that is unique to the stock market universe. Within this reference frame, memory and forgetfulness play a major role in determining market activity and the volatility of prices. Blanqué concludes by expressing his concern that the resources of the financial industry are too often dedicated solely to monitoring the immediate moment in time when trading goods and assets and are not sufficiently oriented toward an understanding of the broader economic issues at stake. |
|---|---|
| Descripció de l’ítem: | Traduit de : "Théorie globale de l'intérêt, du cycle et de la mémoire" pour la partie 1 et de : "La dynamique boursière" pour la partie 2 |
| Descripció física: | 1 volume (305 pages) : graphiques, couverture illustrée en couleur ; 25 cm. |
| ISBN: | 9782717858686 (relié) : |