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Gibt es rationale spekulative Seifenblasen auf den Finanzmärkten?

Gibt es rationale spekulative Seifenblasen auf den Finanzmärkten?

          
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Inhaltsangabe: Einleitung: Das Phänomen spekulativer rationaler Seifenblasen ist in der Literatur sehr umstritten. Die folgende Arbeit stellt die gegensätzlichen Positionen dar und gibt einen Einblick in die gegenwärtige Seifenblasendiskussion. Spekulative Blasen werden nach Aschinger (1991) als von den Fundamentalwerten abweichende Preisbildungen definiert. Der Umfang, den die Diskussion eingenommen hat, läßt sich zum einen durch die realen Auswirkungen exzessiver Vermögenspreisabweichungen auf die internationale Wettbewerbsfähigkeit, die Inflation und die Beschäftigung erklären. Wird als Ursache für diese Abweichungen ein rationales spekulatives Verhalten der Individuen und damit die Existenz rationaler spekulativer Blasen anerkannt, so sind letztere in dem Entscheidungskalkül eines Investors oder des staatlichen Planers mit zu berücksichtigen. Der staatliche Planer beispielsweise beachtet dann, daß eine Seifenblase Einfluß auf die Investitions- oder Sparentscheidungen der Akteure hat. Zum anderen ist das Interesse an der Diskussion deshalb so groß, weil die Existenz rationaler spekulativer Blasen einer Effizienzhypothese für die Finanzmärkte entgegenstehen würde. Die Effizienzhypothese besagt, daß im Vermögenspreis alle verfügbaren Informationen enthalten sind. Dieser verändert sich nur dann, wenn die Individuen neue Informationen über die Entwicklung der Fundamentalwerte erhalten. Dagegen wird der Vermögenspreis durch eine rationale Blase verzerrt. Das spekulative Verhalten steigert nicht die Effizienz der Finanzmärkte, sondern führt nun von ihr weg. Inhaltsverzeichnis: Inhaltsverzeichnis: I.Einleitung1 II.Das elementare monetaristische Wechselkursmodell3 1.Die Gültigkeit der Kaufkraft- sowie Zinsparität4 a)Kaufkraftparität4 b)Zinsparität5 2.Das monetaristische Wechselkursmodell unter vollkommener Voraussicht7 a)Monetaristisches Wechselkursmodell mit flexiblen Preisen8 b)Monetaristisches Wechselkursmodell mit kurzfristig rigiden Preisen11 III.Seifenb


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Product Details
  • ISBN-13: 9783838618999
  • Publisher: Diplom.de
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 5 mm
  • Width: 148 mm
  • ISBN-10: 3838618998
  • Publisher Date: 21 Nov 1999
  • Height: 210 mm
  • No of Pages: 88
  • Series Title: German
  • Weight: 127 gr

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Gibt es rationale spekulative Seifenblasen auf den Finanzmärkten?
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Gibt es rationale spekulative Seifenblasen auf den Finanzmärkten?
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