Author: Robert Walters
Publisher: Quiller
ISBN: 9781846892790
Category : Champagne (Wine)
Languages : en
Pages : 0
Book Description
In Bursting Bubbles, Robert Walters takes us on a journey to visit Champagne's great growers. Along the way, he reveals a secret history of Champagne and dispels many of the myths that still persist about this celebrated wine style. Controversial and ground breaking, Bursting Bubbles will change the way you think about Champagne.
Bursting Bubbles
Author: Robert Walters
Publisher: Quiller
ISBN: 9781846892790
Category : Champagne (Wine)
Languages : en
Pages : 0
Book Description
In Bursting Bubbles, Robert Walters takes us on a journey to visit Champagne's great growers. Along the way, he reveals a secret history of Champagne and dispels many of the myths that still persist about this celebrated wine style. Controversial and ground breaking, Bursting Bubbles will change the way you think about Champagne.
Publisher: Quiller
ISBN: 9781846892790
Category : Champagne (Wine)
Languages : en
Pages : 0
Book Description
In Bursting Bubbles, Robert Walters takes us on a journey to visit Champagne's great growers. Along the way, he reveals a secret history of Champagne and dispels many of the myths that still persist about this celebrated wine style. Controversial and ground breaking, Bursting Bubbles will change the way you think about Champagne.
Rational Bubbles
Author: Matthias Salge
Publisher: Springer Science & Business Media
ISBN: 3642591817
Category : Business & Economics
Languages : en
Pages : 270
Book Description
3 On the Economic Relevance of Rational Bubbles 79 3. 1 Capital markets . . . . . . . . . 80 3. 1. 1 Efficient capital markets 86 3. 1. 2 Rational bubbles on capital markets. 93 3. 1. 3 Economic caveats . 103 3. 2 Foreign exchange markets 109 3. 3 Hyperinflation. . . . . . . 117 4 On Testing for Rational Bubbles 123 4. 1 Indirect tests . . . . . . . . . 123 4. 1. 1 Variance bounds tests 124 4. 1. 2 Specification tests . . . 137 4. 1. 3 Integration and cointegration tests 140 4. 1. 4 Final assessment of indirect tests . 150 4. 1. 5 A digression: Charemza, Deadman (1995) analysis. 151 4. 2 Direct tests . . . . . . . . . . . . . . . . . . . . . . . . 157 4. 2. 1 Deterministic bubble in German hyperinflation. 158 4. 2. 2 Intrinsic bubbles on stock markets. 163 4. 2. 3 An econometric caveat . . . . . 168 4. 2. 4 Final assessment of direct tests 172 5 On the Explanatory Power of Rational Bubbles on the G- man Stock Market 175 5. 1 Data . . . . . . . 175 5. 2 Direct test for rational bubbles 181 5. 2. 1 Temporary Markovian bubbles. 184 5. 2. 2 Temporary intrinsic bubbles . . 193 ix 5. 2. 3 Permanent intrinsic bubbles 198 5. 3 A digression: Testing for unit roots 204 6 Concluding Remarks 215 A Results 221 A. 1 Temporary markovian bubbles. 221 A. 2 Temporary intrinsic bubbles . . 225 A. 3 Permanent intrinsic bubbles - Class 1 to 2 229 A. 4 Permanent intrinsic bubbles - Class 3 to 6 230 A. 5 Integration tests. . . . . . . . . . . . . . .
Publisher: Springer Science & Business Media
ISBN: 3642591817
Category : Business & Economics
Languages : en
Pages : 270
Book Description
3 On the Economic Relevance of Rational Bubbles 79 3. 1 Capital markets . . . . . . . . . 80 3. 1. 1 Efficient capital markets 86 3. 1. 2 Rational bubbles on capital markets. 93 3. 1. 3 Economic caveats . 103 3. 2 Foreign exchange markets 109 3. 3 Hyperinflation. . . . . . . 117 4 On Testing for Rational Bubbles 123 4. 1 Indirect tests . . . . . . . . . 123 4. 1. 1 Variance bounds tests 124 4. 1. 2 Specification tests . . . 137 4. 1. 3 Integration and cointegration tests 140 4. 1. 4 Final assessment of indirect tests . 150 4. 1. 5 A digression: Charemza, Deadman (1995) analysis. 151 4. 2 Direct tests . . . . . . . . . . . . . . . . . . . . . . . . 157 4. 2. 1 Deterministic bubble in German hyperinflation. 158 4. 2. 2 Intrinsic bubbles on stock markets. 163 4. 2. 3 An econometric caveat . . . . . 168 4. 2. 4 Final assessment of direct tests 172 5 On the Explanatory Power of Rational Bubbles on the G- man Stock Market 175 5. 1 Data . . . . . . . 175 5. 2 Direct test for rational bubbles 181 5. 2. 1 Temporary Markovian bubbles. 184 5. 2. 2 Temporary intrinsic bubbles . . 193 ix 5. 2. 3 Permanent intrinsic bubbles 198 5. 3 A digression: Testing for unit roots 204 6 Concluding Remarks 215 A Results 221 A. 1 Temporary markovian bubbles. 221 A. 2 Temporary intrinsic bubbles . . 225 A. 3 Permanent intrinsic bubbles - Class 1 to 2 229 A. 4 Permanent intrinsic bubbles - Class 3 to 6 230 A. 5 Integration tests. . . . . . . . . . . . . . .
Bursting the Bubble: Rationality in a Seemingly Irrational Market
Author: David F. DeRosa
Publisher: CFA Institute Research Foundation
ISBN: 1952927110
Category : Business & Economics
Languages : en
Pages : 206
Book Description
The presence of speculative bubbles in capital markets (an important area of interest in financial history) is widely accepted across many circles. Talk of them is pervasive in the media and especially in the popular financial press. Bubbles are thought to be found primarily in the stock market, which is our main interest, although bubbles are said to occur in other markets. Bubbles go hand in hand with the notion that markets can be irrational. The academic community has a great interest in bubbles, and it has produced scholarly literature that is voluminous. For some economists, doing bubble research is like joining the vanguard of a Kuhnian paradigm shift in economic thinking. Not so fast. If bubbles did exist, they would pose a serious challenge to neoclassical finance. Bubbles would contradict the ideas that markets are rational or work in an informationally efficient manner. That’s what makes the topic of bubbles interesting. This book reviews and evaluates the academic literature as well as some popular investment books on the possible existence of speculative bubbles in the stock market. The main question is whether there is convincing empirical evidence that bubbles exist. A second question is whether the theoretical concepts that have been advanced for bubbles make them plausible. The reader will discover that I am skeptical that bubbles actually exist. But I do not think I or anyone else will ever be able to conclusively prove that there has never been a bubble. From studying the literature and from reading history, I find that many famous purported bubbles reflect inaccurate history or mistakes in analysis or simply cannot be shown to have existed. In other instances, bubbles might have existed. But in each of those cases, there are credible rational explanations. And good evidence exists for the idea that even if bubbles do exist, they are not of great importance to understanding the stock market.
Publisher: CFA Institute Research Foundation
ISBN: 1952927110
Category : Business & Economics
Languages : en
Pages : 206
Book Description
The presence of speculative bubbles in capital markets (an important area of interest in financial history) is widely accepted across many circles. Talk of them is pervasive in the media and especially in the popular financial press. Bubbles are thought to be found primarily in the stock market, which is our main interest, although bubbles are said to occur in other markets. Bubbles go hand in hand with the notion that markets can be irrational. The academic community has a great interest in bubbles, and it has produced scholarly literature that is voluminous. For some economists, doing bubble research is like joining the vanguard of a Kuhnian paradigm shift in economic thinking. Not so fast. If bubbles did exist, they would pose a serious challenge to neoclassical finance. Bubbles would contradict the ideas that markets are rational or work in an informationally efficient manner. That’s what makes the topic of bubbles interesting. This book reviews and evaluates the academic literature as well as some popular investment books on the possible existence of speculative bubbles in the stock market. The main question is whether there is convincing empirical evidence that bubbles exist. A second question is whether the theoretical concepts that have been advanced for bubbles make them plausible. The reader will discover that I am skeptical that bubbles actually exist. But I do not think I or anyone else will ever be able to conclusively prove that there has never been a bubble. From studying the literature and from reading history, I find that many famous purported bubbles reflect inaccurate history or mistakes in analysis or simply cannot be shown to have existed. In other instances, bubbles might have existed. But in each of those cases, there are credible rational explanations. And good evidence exists for the idea that even if bubbles do exist, they are not of great importance to understanding the stock market.
Bursting Bubbles (Making Adversity Okay)
Author: Mark Miljons-Rostoks
Publisher: Balboa Press
ISBN: 1982292385
Category : Biography & Autobiography
Languages : en
Pages : 262
Book Description
This is a diary written from a mini nursing home during the initial COVID-19 lockdowns in Melbourne, Australia. Mark Miljons-Rostoks offers a personal, reflective, and emotional account of a young quadriplegic man searching for meaning amid the global pandemic. He details the realities of life in care and how he plans to re-establish an inspiring life. It’s one massive vent-fest. A rare glimpse is given into a life that not many people know about, understand or can even imagine. He does this by undertaking a writing challenge that explores almost every facet of his life intimately. He also reflects on his life highlights prior to illness, fumbles his way through understanding some personal dilemmas in the present, then explores his ambitions as he plans for a brighter future when quarantine lifts. The author also recalls how he became quadriplegic after getting sick during a backpacking holiday to Europe, and how despite not being able to move his limbs he is determined that he was put here to thrive—not survive. There are highs and lows, obscure ideas and confessions, revelations and humorous accounts, and blimey even some shocking truths exposed. But above all, a raw, robust, resilient human spirit shines through in the face of adversity.
Publisher: Balboa Press
ISBN: 1982292385
Category : Biography & Autobiography
Languages : en
Pages : 262
Book Description
This is a diary written from a mini nursing home during the initial COVID-19 lockdowns in Melbourne, Australia. Mark Miljons-Rostoks offers a personal, reflective, and emotional account of a young quadriplegic man searching for meaning amid the global pandemic. He details the realities of life in care and how he plans to re-establish an inspiring life. It’s one massive vent-fest. A rare glimpse is given into a life that not many people know about, understand or can even imagine. He does this by undertaking a writing challenge that explores almost every facet of his life intimately. He also reflects on his life highlights prior to illness, fumbles his way through understanding some personal dilemmas in the present, then explores his ambitions as he plans for a brighter future when quarantine lifts. The author also recalls how he became quadriplegic after getting sick during a backpacking holiday to Europe, and how despite not being able to move his limbs he is determined that he was put here to thrive—not survive. There are highs and lows, obscure ideas and confessions, revelations and humorous accounts, and blimey even some shocking truths exposed. But above all, a raw, robust, resilient human spirit shines through in the face of adversity.
The Euro Trap
Author: Hans-Werner Sinn
Publisher: OUP Oxford
ISBN: 0191006661
Category : Business & Economics
Languages : en
Pages : 417
Book Description
This book offers a critical assessment of the history of the euro, its crisis, and the rescue measures taken by the European Central Bank and the community of states. The euro induced huge capital flows from the northern to the southern countries of the Eurozone that triggered an inflationary credit bubble in the latter, deprived them of their competitiveness, and made them vulnerable to the financial crisis that spilled over from the US in 2007 and 2008. As private capital shied away from the southern countries, the ECB helped out by providing credit from the local money-printing presses. The ECB became heavily exposed to investment risks in the process, and subsequently had to be bailed out by intergovernmental rescue operations that provided replacement credit for the ECB credit, which itself had replaced the dwindling private credit. The interventions stretched the legal structures stipulated by the Maastricht Treaty which, in the absence of a European federal state, had granted the ECB a very limited mandate. These interventions created a path dependency that effectively made parliaments vicarious agents of the ECB's Governing Council. This book describes what the author considers to be a dangerous political process that undermines both the market economy and democracy, without solving southern Europe's competitiveness problem. It argues that the Eurozone has to rethink its rules of conduct by limiting the role of the ECB, exiting the regime of soft budget constraints and writing off public and bank debt to help the crisis countries breathe again. At the same time, the Eurosystem should become more flexible by offering its members the option of exiting and re-entering the euro - something between the dollar and the Bretton Woods system - until it eventually turns into a federation with a strong political power centre and a uniform currency like the dollar.
Publisher: OUP Oxford
ISBN: 0191006661
Category : Business & Economics
Languages : en
Pages : 417
Book Description
This book offers a critical assessment of the history of the euro, its crisis, and the rescue measures taken by the European Central Bank and the community of states. The euro induced huge capital flows from the northern to the southern countries of the Eurozone that triggered an inflationary credit bubble in the latter, deprived them of their competitiveness, and made them vulnerable to the financial crisis that spilled over from the US in 2007 and 2008. As private capital shied away from the southern countries, the ECB helped out by providing credit from the local money-printing presses. The ECB became heavily exposed to investment risks in the process, and subsequently had to be bailed out by intergovernmental rescue operations that provided replacement credit for the ECB credit, which itself had replaced the dwindling private credit. The interventions stretched the legal structures stipulated by the Maastricht Treaty which, in the absence of a European federal state, had granted the ECB a very limited mandate. These interventions created a path dependency that effectively made parliaments vicarious agents of the ECB's Governing Council. This book describes what the author considers to be a dangerous political process that undermines both the market economy and democracy, without solving southern Europe's competitiveness problem. It argues that the Eurozone has to rethink its rules of conduct by limiting the role of the ECB, exiting the regime of soft budget constraints and writing off public and bank debt to help the crisis countries breathe again. At the same time, the Eurosystem should become more flexible by offering its members the option of exiting and re-entering the euro - something between the dollar and the Bretton Woods system - until it eventually turns into a federation with a strong political power centre and a uniform currency like the dollar.
Boom and Bust
Author: William Quinn
Publisher: Cambridge University Press
ISBN: 1108369359
Category : Business & Economics
Languages : en
Pages : 297
Book Description
Why do stock and housing markets sometimes experience amazing booms followed by massive busts and why is this happening more and more frequently? In order to answer these questions, William Quinn and John D. Turner take us on a riveting ride through the history of financial bubbles, visiting, among other places, Paris and London in 1720, Latin America in the 1820s, Melbourne in the 1880s, New York in the 1920s, Tokyo in the 1980s, Silicon Valley in the 1990s and Shanghai in the 2000s. As they do so, they help us understand why bubbles happen, and why some have catastrophic economic, social and political consequences whilst others have actually benefited society. They reveal that bubbles start when investors and speculators react to new technology or political initiatives, showing that our ability to predict future bubbles will ultimately come down to being able to predict these sparks.
Publisher: Cambridge University Press
ISBN: 1108369359
Category : Business & Economics
Languages : en
Pages : 297
Book Description
Why do stock and housing markets sometimes experience amazing booms followed by massive busts and why is this happening more and more frequently? In order to answer these questions, William Quinn and John D. Turner take us on a riveting ride through the history of financial bubbles, visiting, among other places, Paris and London in 1720, Latin America in the 1820s, Melbourne in the 1880s, New York in the 1920s, Tokyo in the 1980s, Silicon Valley in the 1990s and Shanghai in the 2000s. As they do so, they help us understand why bubbles happen, and why some have catastrophic economic, social and political consequences whilst others have actually benefited society. They reveal that bubbles start when investors and speculators react to new technology or political initiatives, showing that our ability to predict future bubbles will ultimately come down to being able to predict these sparks.
Boombustology
Author: Vikram Mansharamani
Publisher: John Wiley & Sons
ISBN: 1118028570
Category : Business & Economics
Languages : en
Pages : 287
Book Description
A multi-disciplinary framework through which to spot financial bubbles before they burst. Based on a popular undergraduate seminar, entitled Financial Booms & Busts, taught by the author at Yale University, Boombustology presents a multi-disciplinary framework for identifying unsustainable booms and forthcoming busts. The magnitude of our recent financial crisis mandates a firm understanding of this phenomenon before the next crisis occurs. Boombustology provides an in-depth look at several major booms and busts and offers a solid framework for thinking about future occurrences. Examines why booms and busts are not random and can therefore be identified Focuses upon various theoretical and disciplinary lenses useful in the study of booms and busts Contains a framework for thinking about and identifying forthcoming financial bubbles including several tell-tale indicators of a forthcoming bust. Illustrates the framework in action by evaluating China as a potential bubble in the making. If you want to make better decisions in today’s turbulent investment environment, understanding the dynamics of booms and busts is the best place the start. Boombustology can help you achieve this elusive goal. Vikram Mansharamani is a Lecturer at Yale University and a global equity investor.
Publisher: John Wiley & Sons
ISBN: 1118028570
Category : Business & Economics
Languages : en
Pages : 287
Book Description
A multi-disciplinary framework through which to spot financial bubbles before they burst. Based on a popular undergraduate seminar, entitled Financial Booms & Busts, taught by the author at Yale University, Boombustology presents a multi-disciplinary framework for identifying unsustainable booms and forthcoming busts. The magnitude of our recent financial crisis mandates a firm understanding of this phenomenon before the next crisis occurs. Boombustology provides an in-depth look at several major booms and busts and offers a solid framework for thinking about future occurrences. Examines why booms and busts are not random and can therefore be identified Focuses upon various theoretical and disciplinary lenses useful in the study of booms and busts Contains a framework for thinking about and identifying forthcoming financial bubbles including several tell-tale indicators of a forthcoming bust. Illustrates the framework in action by evaluating China as a potential bubble in the making. If you want to make better decisions in today’s turbulent investment environment, understanding the dynamics of booms and busts is the best place the start. Boombustology can help you achieve this elusive goal. Vikram Mansharamani is a Lecturer at Yale University and a global equity investor.
Bursting Bubbles (Making Adversity Okay)
Author: Mark Miljons-Rostoks
Publisher: Balboa Press Au
ISBN: 9781982292379
Category :
Languages : en
Pages : 270
Book Description
This is a diary written from a mini nursing home during the initial COVID-19 lockdowns in Melbourne, Australia. Mark Miljons-Rostoks offers a personal, reflective, and emotional account of a young quadriplegic man searching for meaning amid the global pandemic. He details the realities of life in care and how he plans to re-establish an inspiring life. It's one massive vent-fest. A rare glimpse is given into a life that not many people know about, understand or can even imagine. He does this by undertaking a writing challenge that explores almost every facet of his life intimately. He also reflects on his life highlights prior to illness, fumbles his way through understanding some personal dilemmas in the present, then explores his ambitions as he plans for a brighter future when quarantine lifts. The author also recalls how he became quadriplegic after getting sick during a backpacking holiday to Europe, and how despite not being able to move his limbs he is determined that he was put here to thrive-not survive. There are highs and lows, obscure ideas and confessions, revelations and humorous accounts, and blimey even some shocking truths exposed. But above all, a raw, robust, resilient human spirit shines through in the face of adversity.
Publisher: Balboa Press Au
ISBN: 9781982292379
Category :
Languages : en
Pages : 270
Book Description
This is a diary written from a mini nursing home during the initial COVID-19 lockdowns in Melbourne, Australia. Mark Miljons-Rostoks offers a personal, reflective, and emotional account of a young quadriplegic man searching for meaning amid the global pandemic. He details the realities of life in care and how he plans to re-establish an inspiring life. It's one massive vent-fest. A rare glimpse is given into a life that not many people know about, understand or can even imagine. He does this by undertaking a writing challenge that explores almost every facet of his life intimately. He also reflects on his life highlights prior to illness, fumbles his way through understanding some personal dilemmas in the present, then explores his ambitions as he plans for a brighter future when quarantine lifts. The author also recalls how he became quadriplegic after getting sick during a backpacking holiday to Europe, and how despite not being able to move his limbs he is determined that he was put here to thrive-not survive. There are highs and lows, obscure ideas and confessions, revelations and humorous accounts, and blimey even some shocking truths exposed. But above all, a raw, robust, resilient human spirit shines through in the face of adversity.
Champagne
Author: Robert Walters
Publisher: Allen & Unwin
ISBN: 1760639974
Category : Cooking
Languages : en
Pages : 417
Book Description
'A brilliant and appealing book. The story it tells is fascinating and compelling, leaving me thirsty to try some of the wines that are its subject' - Tim James, Wine Mag Once upon a time, the region of Champagne produced only still wines - wines that were not meant to sparkle. If a Champagne had bubbles in it, it was faulty, undrinkable, an abomination. How did Champagne go from vin du diable ('devil's wine') to Veuve Clicquot? And how did the rise of a group of artisanal producers in Champagne over the last twenty years challenge everything we thought we knew about this famous wine and region? In Champagne: A secret history, Robert Walters takes us on a journey to visit these great growers. Along the way, he reveals the clandestine history of the region and dispels many of the myths that persist about the world's most celebrated wine style. Controversial and ground-breaking, this book will change the way you think about Champagne.
Publisher: Allen & Unwin
ISBN: 1760639974
Category : Cooking
Languages : en
Pages : 417
Book Description
'A brilliant and appealing book. The story it tells is fascinating and compelling, leaving me thirsty to try some of the wines that are its subject' - Tim James, Wine Mag Once upon a time, the region of Champagne produced only still wines - wines that were not meant to sparkle. If a Champagne had bubbles in it, it was faulty, undrinkable, an abomination. How did Champagne go from vin du diable ('devil's wine') to Veuve Clicquot? And how did the rise of a group of artisanal producers in Champagne over the last twenty years challenge everything we thought we knew about this famous wine and region? In Champagne: A secret history, Robert Walters takes us on a journey to visit these great growers. Along the way, he reveals the clandestine history of the region and dispels many of the myths that persist about the world's most celebrated wine style. Controversial and ground-breaking, this book will change the way you think about Champagne.
Bubbles, Booms, and Busts
Author: Donald Rapp
Publisher: Springer
ISBN: 1493910922
Category : Business & Economics
Languages : en
Pages : 374
Book Description
This book deals at some length with the question: Since there are many more poor than rich, why don’t the poor just tax the rich heavily and reduce the inequality? In the 19th century and the first half of the 20th century, the topic of inequality was discussed widely. Ending or reducing inequality was a prime motivating factor in the emergence of communism and socialism. The book discusses why later in the 20th century, inequality has faded out as an issue. Extensive tables and graphs of data are presented showing the extent of inequality in America, as well as globally. It is shown that a combination of low taxes on capital gains contributed to a series of real estate and stock bubbles that provided great wealth to the top tiers, while real income for average workers stagnated. Improved commercial efficiency due to computers, electronics, the Internet and fast transport allowed production and distribution with fewer workers, just as the advent of electrification, mechanization, production lines, vehicles and trains in the 1920s and 1930s produced the same stagnating effect.
Publisher: Springer
ISBN: 1493910922
Category : Business & Economics
Languages : en
Pages : 374
Book Description
This book deals at some length with the question: Since there are many more poor than rich, why don’t the poor just tax the rich heavily and reduce the inequality? In the 19th century and the first half of the 20th century, the topic of inequality was discussed widely. Ending or reducing inequality was a prime motivating factor in the emergence of communism and socialism. The book discusses why later in the 20th century, inequality has faded out as an issue. Extensive tables and graphs of data are presented showing the extent of inequality in America, as well as globally. It is shown that a combination of low taxes on capital gains contributed to a series of real estate and stock bubbles that provided great wealth to the top tiers, while real income for average workers stagnated. Improved commercial efficiency due to computers, electronics, the Internet and fast transport allowed production and distribution with fewer workers, just as the advent of electrification, mechanization, production lines, vehicles and trains in the 1920s and 1930s produced the same stagnating effect.