Introduction
There are two types of financial crises: 1) Exogenous types arising first in the real economy and then transferring to the financial markets, and 2) Endogenous types arising within the financial markets themselves (and then potentially transferring to real economies depending on their severity). In...
Enregistré dans:
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| Format: | Article ou chapitre numérique |
| Sprog: | Français |
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2020
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| Online adgang: | Accès Université d'Orléans et IFPM Accès Université d'Orléans et IFPM |
| Summary: | There are two types of financial crises: 1) Exogenous types arising first in the real economy and then transferring to the financial markets, and 2) Endogenous types arising within the financial markets themselves (and then potentially transferring to real economies depending on their severity). In the current paper we examine the nature of the endogenous financial crises, and their common origins in over-reliance on financial models, and implementation via financial derivatives. |
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