메뉴 건너뛰기




Volumn 4, Issue 2, 2009, Pages

Financial markets and the state: Long swings, risk, and the scope of regulation

Author keywords

[No Author keywords available]

Indexed keywords


EID: 73149111520     PISSN: None     EISSN: 19320213     Source Type: Journal    
DOI: 10.2202/1932-0213.1061     Document Type: Article
Times cited : (14)

References (69)
  • 1
    • 0042350815 scopus 로고    scopus 로고
    • A survey of behavioral finance
    • Constantinides, George, Harris, Milton and Rene Stulz (eds.), Amsterdam: North-Holland
    • Barberis, N. C. and R. H. Thaler (2003), "A Survey of Behavioral Finance," in Constantinides, George, Harris, Milton and Rene Stulz (eds.), Handbook of the Economics of Finance, Amsterdam: North-Holland.
    • (2003) Handbook of the Economics of Finance
    • Barberis, N.C.1    Thaler, R.H.2
  • 4
    • 0002202504 scopus 로고    scopus 로고
    • Monetary policy and asset price volatility
    • Federal Reserve Bank of Kansas City
    • Bernanke, B., and M. Gertler (1999), "Monetary Policy and Asset Price Volatility," in Federal Reserve Bank of Kansas City, New Challenges for Monetary Policy, 77-128.
    • (1999) New Challenges for Monetary Policy , pp. 77-128
    • Bernanke, B.1    Gertler, M.2
  • 5
    • 0000241074 scopus 로고    scopus 로고
    • Should central banks respond to movements in asset prices?
    • - and - (2001), "Should Central Banks Respond to Movements in Asset Prices?," American Economic Review, 253-257.
    • (2001) American Economic Review , pp. 253-257
  • 7
    • 0000007521 scopus 로고
    • The dividend-price ratio and expectations of future dividends and discount factors
    • Campbell, J. Y. and R. J. Shiller (1988a) "The Dividend-Price Ratio and Expectations of Future Dividends and Discount Factors," Review of Financial Studies, 1(3): 195-228.
    • (1988) Review of Financial Studies , vol.1 , Issue.3 , pp. 195-228
    • Campbell, J.Y.1    Shiller, R.J.2
  • 8
    • 84977717068 scopus 로고
    • Stock, prices, earnings, and expected dividends
    • - and - (1988b), "Stock, Prices, Earnings, and Expected Dividends," Journal of Finance, 43, 661-676.
    • (1988) Journal of Finance , vol.43 , pp. 661-676
  • 9
    • 0040250342 scopus 로고    scopus 로고
    • Valuation ratios and the long-run stock market outlook
    • Winter
    • - and - (1998), "Valuation Ratios and the Long-Run Stock Market Outlook," Journal of Portfolio Management, Winter.
    • (1998) Journal of Portfolio Management
  • 10
    • 73149098013 scopus 로고    scopus 로고
    • Basel II: The revised framework of june 2004
    • United Nations Conference on Trade and Development, April
    • Cornford, A. (2005), "Basel II: The Revised Framework of June 2004," Discussion Paper 178, United Nations Conference on Trade and Development, April.
    • (2005) Discussion Paper 178
    • Cornford, A.1
  • 11
    • 73149089783 scopus 로고    scopus 로고
    • Macroeconomic modeling when agents are imperfectly informed
    • De Grauwe, P. (2008), "Macroeconomic Modeling When Agents are Imperfectly Informed," CESifo Working Paper Series No. 2318.
    • (2008) CESifo Working Paper Series No. 2318
    • De Grauwe, P.1
  • 13
    • 84977712440 scopus 로고
    • Positive feedback investment strategies and destabilizing rational speculation
    • DeLong, B.J., Shleifer, A., Summers, L. H. and R. J. Waldman (1990), "Positive Feedback Investment Strategies and Destabilizing Rational Speculation," Journal of Finance, 45, 375-395.
    • (1990) Journal of Finance , vol.45 , pp. 375-395
    • Delong, B.J.1    Shleifer, A.2    Summers, L.H.3    Waldman, R.J.4
  • 15
    • 0002168065 scopus 로고
    • Conservatism in human information processing
    • B. Kleinmuth (ed.), New York: John Wiley and Sons
    • Edwards, W. (1968), "Conservatism in Human Information Processing," in B. Kleinmuth (ed.), Formal Representation of Human Judgement, New York: John Wiley and Sons.
    • (1968) Formal Representation of Human Judgement
    • Edwards, W.1
  • 16
    • 73149084957 scopus 로고    scopus 로고
    • A new monetary policy for the 21st century
    • January 12
    • Farmer, R. (2009), "A New Monetary Policy for the 21st Century," FT.com, January 12.
    • (2009) FT.com
    • Farmer, R.1
  • 17
    • 0037647415 scopus 로고    scopus 로고
    • Is sterilized foreign exchange intervention effective after all? An event study approach
    • Fatum, R. and M. Hutchison (2003), "Is Sterilized Foreign Exchange Intervention Effective After All? An Event Study Approach," Economic Journal, 113, 390-411.
    • (2003) Economic Journal , vol.113 , pp. 390-411
    • Fatum, R.1    Hutchison, M.2
  • 18
    • 32644445118 scopus 로고    scopus 로고
    • Effectiveness of official daily foreign exchange market intervention operations in Japan
    • - and - (2006), "Effectiveness of Official Daily Foreign Exchange Market Intervention Operations in Japan," Journal of International Money and Finance, 25, 199-219.
    • (2006) Journal of International Money and Finance , vol.25 , pp. 199-219
  • 19
    • 73149120353 scopus 로고    scopus 로고
    • Financial Stability Forum. report, April, and follow-up, October
    • Financial Stability Forum (2008), "Enhancing Market and Institutional Resilience," report, April, and follow-up, October.
    • (2008) Enhancing Market and Institutional Resilience
  • 20
    • 0000131597 scopus 로고
    • Using survey data to test standard propositions regarding exchange rate expectations
    • Frankel, J. A. and K. Froot (1987a), "Using Survey Data to Test Standard Propositions Regarding Exchange Rate Expectations," American Economic Review, 77, 133-153
    • (1987) American Economic Review , vol.77 , pp. 133-153
    • Frankel, J.A.1    Froot, K.2
  • 21
    • 0002352870 scopus 로고
    • Understanding the U.S. Dollar in the eighties: The expectations of chartists and fundamentalists
    • December
    • - and - Frankel, J. and K. Froot (1987b), "Understanding the U.S. Dollar in the Eighties: The Expectations of Chartists and Fundamentalists," Economic Record, December, 24-38.
    • (1987) Economic Record , pp. 24-38
    • Frankel, J.1    Froot, K.2
  • 22
    • 73149091098 scopus 로고
    • and reprinted in J. A. Frankel (ed.), The MIT Press: Cambridge, Mass., chapter
    • and reprinted in J. A. Frankel (ed.), On Exchange Rates, The MIT Press: Cambridge, Mass., 1995, chapter 14, 295-316.
    • (1995) On Exchange Rates , vol.14 , pp. 295-316
  • 23
    • 84959841139 scopus 로고
    • Forward discount bias: Is it an exchange risk premium?
    • Froot, K. and J. Frankel (1989), "Forward Discount Bias: Is it an Exchange Risk Premium?," Quarterly Journal of Economics, 104, 139-161.
    • (1989) Quarterly Journal of Economics , vol.104 , pp. 139-161
    • Froot, K.1    Frankel, J.2
  • 24
    • 0004085465 scopus 로고
    • reprinted in Jeffrey A. Frankel, ed, Cambridge, MA: The MIT Press
    • reprinted in Jeffrey A. Frankel, ed., On Exchange Rates, Cambridge, MA: The MIT Press, 1995.
    • (1995) On Exchange Rates
  • 25
    • 0000597755 scopus 로고
    • Towards an understanding of market processes: Individual expectations, learning and convergence to rational expectations equilibrium
    • Frydman, R. (1982), "Towards an Understanding of Market Processes: Individual Expectations, Learning and Convergence To Rational Expectations Equilibrium," American Economic Review, 652-668.
    • (1982) American Economic Review , pp. 652-668
    • Frydman, R.1
  • 26
    • 3142611160 scopus 로고
    • Individual rationality, decentralization and the rational expectations hypothesis
    • Frydman, R. and E. S. Phelps (eds.). New York: Cambridge University Press
    • - (1983), "Individual Rationality, Decentralization and the Rational Expectations Hypothesis," in Frydman, R. and E. S. Phelps (eds.), Individual Forecasting and Aggregate Outcomes:"Rational Expectations" Examined, New York: Cambridge University Press, 97-122.
    • (1983) Individual Forecasting and Aggregate Outcomes: "Rational Expectations" Examined , pp. 97-122
  • 29
    • 84868078889 scopus 로고    scopus 로고
    • Can anything slow the Dollar's fall?
    • op-ed published in 55 newspapers around the world, November
    • - and - (2007b), "Can Anything Slow the Dollar's Fall?," Project Syndicate, http://www.project-syndicate.org/commentary, op-ed published in 55 newspapers around the world, November.
    • (2007) Project Syndicate
  • 30
    • 68949162607 scopus 로고    scopus 로고
    • Macroeconomic theory for a world of imperfect knowledge
    • Article 1
    • - and - (2008a) "Macroeconomic Theory for a World of Imperfect Knowledge," Capitalism and Society, 3, 3, Article 1. http://www.bepress. com/cas/vol3/iss3/art1.
    • (2008) Capitalism and Society , vol.3 , Issue.3
  • 31
    • 73149099038 scopus 로고    scopus 로고
    • Obama and asset prices
    • November 14
    • - and - (2008b), "Obama and Asset Prices," Financial Times.com, November 14.
    • (2008) Financial Times.com
  • 34
    • 73149114746 scopus 로고    scopus 로고
    • The exchange rate: Long swings and the purchasing power parity puzzle
    • Frydman, R., Goldberg, M. D., S. Johansen, and K. Juselius (2009), "The Exchange Rate: Long Swings and the Purchasing Power Parity Puzzle," manuscript.
    • (2009) Manuscript
    • Frydman, R.1    Goldberg, M.D.2    Johansen, S.3    Juselius, K.4
  • 35
    • 73149104967 scopus 로고    scopus 로고
    • We must not rely only on the rosiest ratings
    • October 20
    • Frydman, R. and Goldberg, M. D. and E. S. Phelps (2008), "We must not rely only on the rosiest ratings," Financial Times, October 20.
    • (2008) Financial Times
    • Frydman, R.1    Goldberg, M.D.2    Phelps, E.S.3
  • 37
    • 73149103811 scopus 로고
    • The paradoxes of communist reform
    • Chapter 4, manuscript
    • Frydman, R. and A. Rapaczynski (1994), "The Paradoxes of Communist Reform," Chapter 4 in Markets by Design, manuscript.
    • (1994) Markets by Design
    • Frydman, R.1    Rapaczynski, A.2
  • 38
    • 0006070524 scopus 로고    scopus 로고
    • When does privatization work? the impact of private ownership on corporate performance in transition economies
    • Frydman, R., Gray, Ch., Hessel, M. and A. Rapaczynski (1999), "When Does Privatization Work? The Impact of Private Ownership on Corporate Performance in Transition Economies," Quarterly Journal of Economics, 114, 1153-1192
    • (1999) Quarterly Journal of Economics , vol.114 , pp. 1153-1192
    • Frydman, R.1    Gray, Ch.2    Hessel, M.3    Rapaczynski, A.4
  • 39
    • 0000238857 scopus 로고    scopus 로고
    • Imperfect knowledge and behaviour in the foreign exchange market
    • Goldberg, M. D. and R. Frydman (1996a), "Imperfect Knowledge and Behaviour in the Foreign Exchange Market," Economic Journal, 106, 869-893
    • (1996) Economic Journal , vol.106 , pp. 869-893
    • Goldberg, M.D.1    Frydman, R.2
  • 40
    • 0003143564 scopus 로고    scopus 로고
    • Empirical exchange rate models and shifts in the co- Integrating vector
    • - and - (1996b), "Empirical Exchange Rate Models and Shifts in the Co- Integrating Vector," Structural Change and Economic Dynamics, 7, 55-78.
    • (1996) Structural Change and Economic Dynamics , vol.7 , pp. 55-78
  • 41
    • 0035205037 scopus 로고    scopus 로고
    • Macroeconomic fundamentals and the DM/$ exchange rate: Temporal instability and the monetary model
    • October
    • - and - (2001), "Macroeconomic Fundamentals and the DM/$ Exchange Rate: Temporal Instability and the Monetary Model," International Journal of Finance and Economics, October, 421-435.
    • (2001) International Journal of Finance and Economics , pp. 421-435
  • 42
    • 0008865304 scopus 로고    scopus 로고
    • The challenge of central banking in a democratic society
    • December 5
    • Greenspan, A. (1996), "The Challenge of Central Banking in a Democratic Society," Speech at the American Enterprise Institute, December 5: http://www.federalreserve.gov/boarddocs/speeches/1996/19961205.htm
    • (1996) Speech at the American Enterprise Institute
    • Greenspan, A.1
  • 44
    • 36049033159 scopus 로고    scopus 로고
    • The cyclical effects of the basel ii capital requirements
    • Heid, F. (2007, "The cyclical effects of the Basel II capital requirements," Journal of Banking and Finance, 31, 3885-3900.
    • (2007) Journal of Banking and Finance , vol.31 , pp. 3885-3900
    • Heid, F.1
  • 45
  • 46
    • 84868078747 scopus 로고    scopus 로고
    • Testing hypotheses in an I(2) Model with piecewise linear trends. An analysis of the persistent long swings in the Dmk/$ Rate
    • forthcoming in
    • Johansen, S., Juselius, K., Frydman, R. and M. D. Goldberg (2008), "Testing Hypotheses in an I(2) Model With Piecewise Linear Trends. An Analysis of the Persistent Long Swings in the Dmk/$ Rate," forthcoming in Journal of Econometrics.
    • (2008) Journal of Econometrics
    • Johansen, S.1    Juselius, K.2    Frydman, R.3    Goldberg, M.D.4
  • 47
    • 0000125532 scopus 로고
    • Prospect theory: An analysis of decision under risk
    • Kahneman, D. and A. Tversky (1979), "Prospect Theory: An Analysis of Decision Under Risk," Econometrica, 47, 263-291.
    • (1979) Econometrica , vol.47 , pp. 263-291
    • Kahneman, D.1    Tversky, A.2
  • 48
    • 73149095263 scopus 로고    scopus 로고
    • Radical surgery is required to save this patient
    • February 12
    • Kaletsky, A. (2009), "Radical Surgery Is Required To Save This Patient," The Times, February 12.
    • (2009) The Times
    • Kaletsky, A.1
  • 50
    • 0000643498 scopus 로고
    • Rules rather than discretion: The inconsistency of optimal plans
    • Kydland F. E. and E. C. Prescott (1977), "Rules Rather than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, 85, 473-491.
    • (1977) Journal of Political Economy , vol.85 , pp. 473-491
    • Kydland, F.E.1    Prescott, E.C.2
  • 51
    • 84868083233 scopus 로고    scopus 로고
    • Professional memoir
    • Lucas, R. E. Jr. (2001 ), "Professional Memoir, " mimeo. http://home.uchicago.edu.
    • (2001) Mimeo
    • Lucas Jr., R.E.1
  • 52
    • 3242762538 scopus 로고    scopus 로고
    • Concepts to calculate equilibrium exchange rates: An overview
    • Economic Research Group of the Deutsche Bundesbank
    • MacDonald, R. (2000), "Concepts to Calculate Equilibrium Exchange Rates: An Overview," Discussion Paper 3/00, Economic Research Group of the Deutsche Bundesbank.
    • (2000) Discussion Paper 3/00
    • MacDonald, R.1
  • 53
    • 73149098577 scopus 로고    scopus 로고
    • The world's Central Banks must buy assets
    • November 24
    • Muellbauer, J. (2008), "The World's Central Banks Must Buy Assets," Financial Times, November 24.
    • (2008) Financial Times
    • Muellbauer, J.1
  • 54
    • 84868061691 scopus 로고    scopus 로고
    • SEC chairwoman to reform enforcement bureau
    • February 6
    • Orol, R.O. (2009), "SEC Chairwoman to Reform Enforcement Bureau," Market Watch, February 6: http://www.marketwatch.com/news/story/ SECchairwoman- reform-enforcement-bureau/story.aspx?guid=%7B74170053- 6320-482B-9228-1B63552F9F59%7D
    • (2009) Market Watch
    • Orol, R.O.1
  • 55
    • 0013127001 scopus 로고
    • The trouble with 'rational expectations' and the problem of inflation stabilization
    • Frydman, R. and E. S. Phelps (eds.), New York: Cambridge University Press
    • Phelps, E. S. (1983), "The Trouble with 'Rational Expectations' and the Problem of Inflation Stabilization," in Frydman, R. and E. S. Phelps (eds.), Individual Forecasting and Aggregate Outcomes: "Rational Expectations" Examined, New York: Cambridge University Press.
    • (1983) Individual Forecasting and Aggregate Outcomes: "Rational Expectations" Examined
    • Phelps, E.S.1
  • 56
    • 73149121778 scopus 로고    scopus 로고
    • Global change needs flexibility, not a fixed rule
    • May 24
    • - (2006), "Global Change Needs Flexibility, Not a Fixed Rule," Financial Times, May 24.
    • (2006) Financial Times
  • 57
    • 73149097776 scopus 로고    scopus 로고
    • Foreword
    • Frydman, R. and M. Goldberg (2007a), Princeton, NJ: Princeton University Press
    • - (2007). "Foreword," in Frydman, R. and M. Goldberg (2007a), Imperfect Knowledge Economics: Exchange Rates and Risk, Princeton, NJ: Princeton University Press.
    • (2007) Imperfect Knowledge Economics: Exchange Rates and Risk
  • 58
    • 84868051439 scopus 로고    scopus 로고
    • Commentary: Revolutionary times, then and now
    • Article 5
    • - (2008), "Commentary: Revolutionary Times, Then and Now," Capitalism and Society: 3, 3, Article 5. http://www.bepress.com/cas/vol3/iss3/ art5.
    • (2008) Capitalism and Society , vol.3 , Issue.3
  • 59
    • 73149115632 scopus 로고    scopus 로고
    • The failure of financial regulation
    • January 15
    • Pomerleano, M. (2009), "The Failure of Financial Regulation," FT.com, January 15.
    • (2009) FT.com
    • Pomerleano, M.1
  • 60
    • 73149113656 scopus 로고    scopus 로고
    • The procyclical effects of basel ii
    • Repullo, R. and J. Suarez (2008), "The Procyclical Effects of Basel II," manuscript.
    • (2008) Manuscript
    • Repullo, R.1    Suarez, J.2
  • 62
    • 33747833685 scopus 로고    scopus 로고
    • The interaction between technical currency trading and exchange rate fluctuations
    • Schulmeister, Stephan (2006), "The Interaction between Technical Currency Trading and Exchange Rate Fluctuations," Finance Research Letters, 3, 212-233
    • (2006) Finance Research Letters , vol.3 , pp. 212-233
    • Stephan, S.1
  • 63
    • 45949094269 scopus 로고    scopus 로고
    • Components of the profitability of technical currency trading
    • forthcoming in
    • Schulmeister, Stephan (2008), "Components of the Profitability of Technical Currency Trading," forthcoming in Applied Financial Economics.
    • (2008) Applied Financial Economics
    • Stephan, S.1
  • 64
    • 0004179594 scopus 로고    scopus 로고
    • Princeton: Princeton University Press
    • Shiller, R. (2000), Irrational Exuberance, Princeton: Princeton University Press.
    • (2000) Irrational Exuberance
    • Shiller, R.1
  • 69
    • 84963108002 scopus 로고
    • Liquidity preference as behavior towards risk
    • Tobin, J. (1958), "Liquidity Preference as Behavior Towards Risk," Review of Economic Studies, 25, 15-29.
    • (1958) Review of Economic Studies , vol.25 , pp. 15-29
    • Tobin, J.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.