A Behavioral Finance Approach to International Monetary and Financial Analysis: Implications and Evidence - Couverture souple

Willett, Thomas D.

Couverture souple

ISBN 10 : 1009693980 ISBN 13 : 9781009693981

Editeur : Cambridge University Press, 2026

Synopsis

Efficient market theory has made an important contribution to economic and financial analysis, but markets do not always behave according to the theory's predictions. The behavioral finance approach advocated in this Element is a complement to efficient market theory. The Element stresses the effects of perverse incentives, complexity, and uncertainty, as well as the roles of mental models or narrative and behavioral biases. It emphasizes limits to arbitrage, suggesting that international capital mobility is often far from perfect. It reviews popular models and considers alternatives in areas such as currency crises, exchange rates and the balance of payments, the international monetary trilemma, capital flow surges and sudden stops, and the discipline effects of international financial markets. The behavioral approach of the Element also helps to explain why governments often fail to undertake necessary policy adjustments in time to head off currency and financial crises.

Détails de l'édition

• Éditeur: Cambridge University Press
• Date d'édition: 2026
• Langue: anglais
• ISBN 10: 1009693980
• ISBN 13: 9781009693981
• Reliure: Broché
• Nombre de pages: 76
• Coordonnées du fabricant: non disponible
• Personne responsable: Avery; https://www.avery.fr/; ; chemin des peupliers 27; Dardilly; France