The thesis offers a behavioural explanation about the interactions between the real market and the stock one. It is mainly divided in three parts: in the first one, I show the trend of speculative bubble in history and I try to provide a behavioural explanation of such a phenomenon; in the second part, I explain the macromodel, showing four different scenarios: the situation in which both markets are unstable, the one in which only the financial market is unstable and the other not, the one in which only the real market in unstable and the one in which both of them are stable. Finally, in the third part, I analyse what are the different decisions a central bank can take-if interveining or not- when a situation of crisis occurs.
A BEHAVIOURAL MACROMODEL ON THE INTERACTIONS BETWEEN REAL AND FINANCIAL MARKET
CAFFERATA, ALESSIA
2014/2015
Abstract
The thesis offers a behavioural explanation about the interactions between the real market and the stock one. It is mainly divided in three parts: in the first one, I show the trend of speculative bubble in history and I try to provide a behavioural explanation of such a phenomenon; in the second part, I explain the macromodel, showing four different scenarios: the situation in which both markets are unstable, the one in which only the financial market is unstable and the other not, the one in which only the real market in unstable and the one in which both of them are stable. Finally, in the third part, I analyse what are the different decisions a central bank can take-if interveining or not- when a situation of crisis occurs.È consentito all'utente scaricare e condividere i documenti disponibili a testo pieno in UNITESI UNIPV nel rispetto della licenza Creative Commons del tipo CC BY NC ND.
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https://hdl.handle.net/20.500.14239/5196