Quantitative evidence suggests that mutual funds, international portfolio flows, and the decline in the amount of corporate equity outstanding all played an integral role in the stock market boom. These ingredients in the context of a supply and demand based theory of equity price determination indicate that supply and demand forces unrelated to corporate profitability elevated US equity valuations to unsustainable levels.
The author's conclusions carry implications for economic theory and policy, retirement security and stock market investments in general. Economists, finance professionals and policymakers will find this volume a unique investigation into the stock market boom and bust.
Quantitative evidence suggests that mutual funds, international portfolio flows, and the decline in the amount of corporate equity outstanding all played an integral role in the stock market boom. These ingredients in the context of a supply and demand based theory of equity price determination indicate that supply and demand forces unrelated to corporate profitability elevated US equity valuations to unsustainable levels.
The author's conclusions carry implications for economic theory and policy, retirement security and stock market investments in general. Economists, finance professionals and policymakers will find this volume a unique investigation into the stock market boom and bust.
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Why the Bubble Burst: US Stock Market Performance since 1982
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Why the Bubble Burst: US Stock Market Performance since 1982
256Hardcover
Product Details
ISBN-13: | 9781843760757 |
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Publisher: | Edward Elgar Publishing |
Publication date: | 07/28/2003 |
Series: | New Directions in Modern Economics series |
Pages: | 256 |
Product dimensions: | 6.12(w) x 9.25(h) x (d) |