|
EconStor >
Otto-Friedrich-Universität Bamberg >
Bamberg Economic Research Group, Universität Bamberg >
BERG Working Paper Series, Universität Bamberg >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/54992
|
| | |
| Title: | | Interactions between the real economy and the stock market  |
| Authors: | | Westerhoff, Frank |
| Issue Date: | | 2011 |
| Series/Report no.: | | BERG Working Paper Series 84 |
| Abstract: | | We develop a simple behavioral macro model to study interactions between the real economy and the stock market. The real economy is represented by a Keynesian goods market approach while the setup for the stock market includes heterogeneous speculators. Using a mixture of analytical and numerical tools we find, for instance, that speculators may create endogenous boom-bust dynamics in the stock market which, by spilling over into the real economy, can cause lasting fluctuations in economic activity. However, fluctuations in economic activity may, by shaping the firms' fundamental values, also have an impact on the dynamics of the stock market. |
| Subjects: | | goods market stock market heterogeneous speculators stability analysis complex dynamics |
| JEL: | | D84 E12 G12 |
| ISBN: | | 978-3-931052-95-9 |
| Document Type: | | Working Paper |
| Appears in Collections: | | BERG Working Paper Series, Universität Bamberg
|
| Files in This Item:
| |
|
| No. of Downloads:
| |
| last Month |
last 3 Month |
total |
|
|
|
|
|
| |
| | |
Download bibliographical data as:
BibTeX
|
| |
Share on:http://hdl.handle.net/10419/54992
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|