Robert J. Shiller is the Stanley B. Resor Professor of Economics at Yale University. He is author of "The New Financial Order: Risk in the 21st Century" (Princeton) and "Market Volatility and Macro Markets", which won the 1996 Paul A. Samuelson Award.
发表于2025-04-03
Irrational Exuberance 2025 pdf epub mobi 电子书
席勒(Robert J.Shiller)教授在其在本人授课的耶鲁公开课《经济市场》上推荐的辅助教材之一。这本书因其“成功的预测了2000年和2007年两次金融及房产市场泡沫崩溃“而出名,当然事实上这本书只是幸运的在2000年金融泡沫破灭前刚好发表,显然整个经济泡沫涌起的90年代不断会有...
评分两年前读这本书的时候,正是2015年中国股市泡沫即将破裂的前夕(一个多月后泡沫演化成了救市的闹剧)。当时读的是第一版。这次读的是第二版,主要是多了房地产泡沫的内容。在众多待读书单中把这本书拿出来再重温一遍,实在是因为泡沫这个主题一直萦绕在脑海中无法消去,不知道自...
评分席勒(Robert J.Shiller)教授在其在本人授课的耶鲁公开课《经济市场》上推荐的辅助教材之一。这本书因其“成功的预测了2000年和2007年两次金融及房产市场泡沫崩溃“而出名,当然事实上这本书只是幸运的在2000年金融泡沫破灭前刚好发表,显然整个经济泡沫涌起的90年代不断会有...
评分本学期我选修了这门课,会随着课程而更新课堂笔记:1-7课,8-14课,15-23课(完) 这是入门级的概论课。如果你有一点金融基础,就不必看了。 自己收集的书目:金融通识 Finance for Liberal Arts Course Description: Financial institutions are a pillar of civilized societ...
评分如果让我对我现在所学的金融学说点什么,我只想说学这个专业的学生都是在尝试让自己的理性战胜自己的非理性。 当教科书上告诉我们,亚当斯密爷爷说的,我们都是理性的经济人,我们像趋利避害的草履虫一样。可真的如此吗?希勒教授告诉我们,我们恶性的自大让人类成了非理性的...
图书标签: 金融 Finance 经济 经济学 IrrationalExuberate Economics Shiller CFA
This first edition of this book was a broad study, drawing on a wide range of published research and historical evidence, of the enormous stock market boom that started around 1982 and picked up incredible speed after 1995. Although it took as its specific starting point this ongoing boom, it placed it in the context of stock market booms generally, and it also made concrete suggestions regarding policy changes that should be initiated in response to this and other such booms. The book argued that the boom represents a speculative bubble, not grounded in sensible economic fundamentals. Part one of the book considered structural factors behind the boom. A list of twelve precipitating factors that appear to be its ultimate causes was given. Amplification mechanisms, naturally-occurring Ponzi processes, that enlarge the effects of these precipitating factors, were described. Part Two discussed cultural factors, the effects of the news media, and of "new era" economic thinking. Part Three discussed psychological factors, psychological anchors for the market and herd behavior. Part Four discussed attempts to rationalize exuberance: efficient markets theory and theories that investors are learning. Part Five presented policy options and actions that should be taken. The second edition, 2005, added an analysis of the real estate bubble as similar to the stock market bubble that preceded it, and warned that "Significant further rises in these markets could lead, eventually, to even more significant declines. The bad outcome could be that eventual declines would result in a substantial increase in the rate of personal bankruptcies, which could lead to a secondary string of bankruptcies of financial institutions as well. Another long-run consequence could be a decline in consumer and business confidence, and another, possibly worldwide, recession." Thus, the second edition of this book was among the first to warn of the global financial crisis that began with the subprime mortgage debacle in 2007
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非理性繁荣(第2版)
一篇不含math & stats的通俗paper
评分后半部分有很多long run short run price movement的讨论 让我想到自己问不同公司trader他们的decision making process 哎 还是exotic/macro比较有意思
评分一篇不含math & stats的通俗paper
评分1929、1987年黑色星期一市场崩溃当天并没有什么特别的新闻。相反,起作用的是市场下跌本身,价格下跌产生了反馈环(price-to-price feedback)。
评分1. Psychological effects do play an important role in the stock market peaks (or troughs). Irrational exuberance does exist 2. Irrational exuberance cannot be eliminated. There are some possible solutions: more effective risk management by individuals, guidance and proper interest rate policy from monetary authorities and improved information flow.
Irrational Exuberance 2025 pdf epub mobi 电子书