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...
Đã lưu trong:
| Tác giả chính: | |
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| Định dạng: | Article ou chapitre numérique |
| Ngôn ngữ: | Français |
| Được phát hành: |
2020
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| Truy cập trực tuyến: | Accès Université d'Orléans et IFPM Accès Université d'Orléans et IFPM |
| Tóm tắt: | 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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