Determinants of a shifting effective demand equilibrium: An explorative investigation into the nature of the interaction between psychological, financial and real factors

 
9783639279740: Determinants of a shifting effective demand equilibrium: An explorative investigation into the nature of the interaction between psychological, financial and real factors
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Building on Keynes' General Theory, this thesis holds that economic instability is due to a latent inverse relationship between expectations and risk assessment. It is assumed that stock markets have a significant influence on this relationship, thus affecting supply and demand in general. Demand for money as a store of wealth along with credit supply and demand are particularly important variables in the economic instability process. Moreover, the existence of such a mechanism implies co-trending (i.e. equilibrium) relationships between several macroeconomic variables. Some essential relationships have been tested empirically in various model specifications on Norwegian and US data. The cointegration models indicate bidirectional negative causation between stock prices and unemployment, and positive bidirectional causation between stock prices and consumption. It has also been shown that stock prices affect aggregate credit growth positively. Finally, money neutrality, a central tenet of contemporary orthodox economic theory, is rejected.

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Ph.D. and Associate Professor at Bodĝ Graduate School of Business in Norway. He teaches econometrics and finance, and his main research interests are economic fluctations and dynamic modeling of interdependent economic systems.

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Book Description Condition: New. Publisher/Verlag: VDM Verlag Dr. Müller | An explorative investigation into the nature of the interaction between psychological, financial and real factors | Building on Keynes' General Theory, this thesis holds that economic instability is due to a latent inverse relationship between expectations and risk assessment. It is assumed that stock markets have a significant influence on this relationship, thus affecting supply and demand in general. Demand for money as a store of wealth along with credit supply and demand are particularly important variables in the economic instability process. Moreover, the existence of such a mechanism implies co-trending (i.e. equilibrium) relationships between several macroeconomic variables. Some essential relationships have been tested empirically in various model specifications on Norwegian and US data. The cointegration models indicate bidirectional negative causation between stock prices and unemployment, and positive bidirectional causation between stock prices and consumption. It has also been shown that stock prices affect aggregate credit growth positively. Finally, money neutrality, a central tenet of contemporary orthodox economic theory, is rejected. | Format: Paperback | Language/Sprache: english | 214 gr | 152 pp. Seller Inventory # K9783639279740

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Book Description VDM Verlag Sep 2010, 2010. Taschenbuch. Condition: Neu. Neuware - Building on Keynes' General Theory, this thesis holds that economic instability is due to a latent inverse relationship between expectations and risk assessment. It is assumed that stock markets have a significant influence on this relationship, thus affecting supply and demand in general. Demand for money as a store of wealth along with credit supply and demand are particularly important variables in the economic instability process. Moreover, the existence of such a mechanism implies co-trending (i.e. equilibrium) relationships between several macroeconomic variables. Some essential relationships have been tested empirically in various model specifications on Norwegian and US data. The cointegration models indicate bidirectional negative causation between stock prices and unemployment, and positive bidirectional causation between stock prices and consumption. It has also been shown that stock prices affect aggregate credit growth positively. Finally, money neutrality, a central tenet of contemporary orthodox economic theory, is rejected. 152 pp. Englisch. Seller Inventory # 9783639279740

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Book Description VDM Verlag Sep 2010, 2010. Taschenbuch. Condition: Neu. Neuware - Building on Keynes' General Theory, this thesis holds that economic instability is due to a latent inverse relationship between expectations and risk assessment. It is assumed that stock markets have a significant influence on this relationship, thus affecting supply and demand in general. Demand for money as a store of wealth along with credit supply and demand are particularly important variables in the economic instability process. Moreover, the existence of such a mechanism implies co-trending (i.e. equilibrium) relationships between several macroeconomic variables. Some essential relationships have been tested empirically in various model specifications on Norwegian and US data. The cointegration models indicate bidirectional negative causation between stock prices and unemployment, and positive bidirectional causation between stock prices and consumption. It has also been shown that stock prices affect aggregate credit growth positively. Finally, money neutrality, a central tenet of contemporary orthodox economic theory, is rejected. 152 pp. Englisch. Seller Inventory # 9783639279740

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Book Description VDM Verlag Sep 2010, 2010. Taschenbuch. Condition: Neu. This item is printed on demand - Print on Demand Neuware - Building on Keynes' General Theory, this thesis holds that economic instability is due to a latent inverse relationship between expectations and risk assessment. It is assumed that stock markets have a significant influence on this relationship, thus affecting supply and demand in general. Demand for money as a store of wealth along with credit supply and demand are particularly important variables in the economic instability process. Moreover, the existence of such a mechanism implies co-trending (i.e. equilibrium) relationships between several macroeconomic variables. Some essential relationships have been tested empirically in various model specifications on Norwegian and US data. The cointegration models indicate bidirectional negative causation between stock prices and unemployment, and positive bidirectional causation between stock prices and consumption. It has also been shown that stock prices affect aggregate credit growth positively. Finally, money neutrality, a central tenet of contemporary orthodox economic theory, is rejected. 152 pp. Englisch. Seller Inventory # 9783639279740

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Book Description VDM Verlag, Germany, 2010. Paperback. Condition: New. Language: English . Brand New Book ***** Print on Demand *****.Building on Keynes General Theory, this thesis holds that economic instability is due to a latent inverse relationship between expectations and risk assessment. It is assumed that stock markets have a significant influence on this relationship, thus affecting supply and demand in general. Demand for money as a store of wealth along with credit supply and demand are particularly important variables in the economic instability process. Moreover, the existence of such a mechanism implies co-trending (i.e. equilibrium) relationships between several macroeconomic variables. Some essential relationships have been tested empirically in various model specifications on Norwegian and US data. The cointegration models indicate bidirectional negative causation between stock prices and unemployment, and positive bidirectional causation between stock prices and consumption. It has also been shown that stock prices affect aggregate credit growth positively. Finally, money neutrality, a central tenet of contemporary orthodox economic theory, is rejected. Seller Inventory # AAV9783639279740

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