Matches in SemOpenAlex for { <https://semopenalex.org/work/W2512454764> ?p ?o ?g. }
- W2512454764 abstract "Do market frictions influence asset prices? The first part examines whether financial intermediaries’ balance sheet capacity, their funding liquidity, can influence market liquidity, volatility, and price patterns. Using a historical case study this part suggests that when a liquidity provider is balance sheet constrained, markets become illiquid and prices move. The second part looks at Germany’s 1927 stock market crash. It sheds light on the relationship between leverage and asset price behavior. The results indicate that a bank’s credit policy influenced asset prices – an expansive policy dampened volatility and increased returns. A sharp cut in margin credit led to larger price fluctuations. The third part looks at the connection between the financial side and the real side of the economy. Testing the theory of rational bubbles, it suggests that in 18th century England government debt increased consumers’ welfare by giving them a safe store of value." @default.
- W2512454764 created "2016-09-16" @default.
- W2512454764 creator A5084409658 @default.
- W2512454764 date "2014-09-22" @default.
- W2512454764 modified "2023-09-24" @default.
- W2512454764 title "Essays in financial history" @default.
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- W2512454764 hasPublicationYear "2014" @default.
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