wholesale gold jewelry in new york How is the economic bubble formed? What are the characteristics

14kt jewelry wholesale Analysis of the cause of the foam is a macro and micro mechanism that analyzes foam.
The study by Lin Jerean et al. (1996) showed that 135 countries in 181 member states organized by the International Monetary Fund from 1980-1995 have experienced serious difficulties in the financial field at different stages, of which About half of the countries have experienced foam economy before encountering the financial crisis, especially the distress of real estate bubbles. At the same time, it is believed that financial liberalization has reduced the cost of capital flow, which has made huge international speculative capital wandering frequently, causing the price turmoil of the prices of many countries, especially emerging market countries, and accelerated the formation of economic bubbles, and emphasized that financial liberalization into economic bubbles It provides an institutional foundation.
This Japanese scholars (such as Miyazaki Yoshiyama, Okura Yakihiko, etc.) believe that the unreasonable arrangement of macroeconomic policies is the basis for the economic bubble economy, and it is also the fuse of foam rupture, because improper economic policies have strengthened the market for the market. Speculation and misleading investors' expectations.
It's micro mechanism of investment behavior, some scholars believe that Ponzi Games is an important reason for the asset bubble. This is because the debtor of the asset market pursues the countermeasures of Peng, that is, relying on new debt to maintain liquidity, rather than relying on operating income flow, which leads to the occurrence of "financial chain" () game, which produces asset bubbles; some scholars believe that Risk transfer, moral hazards and credit expansion are important causes of bubbles. In the case of credit investment, on the one hand, if the investment fails, investors will not be able to repay the loan, but they can transfer the investment risk of assets to institutions such as bankruptcy and other means; on the other hand Investors, investors have the tendency to chase asset prices and the motivation to raise asset prices, which leads to the generation of foam. (2000) The bubble caused by agency issues in the banking system. The main conclusion is that investors use bank loan investment risk assets, which can avoid losses and transfer risks in the form of breach of contract, which leads to rising asset prices. At the same time, he also believes that the uncertainty of the degree of credit expansion can also cause bubbles, which associates with the production of bubbles including commercial banks and central banks.
The positive feedback transaction phenomenon of asset markets such as stocks, foreign exchange and real estate markets. Andrison and Claus (, 1988) simulated the phenomenon of positive feedback through experiments, reflecting the tendency of people's investments (); Frankl and Ferut (, 1988) and Shiller (1988) markets The survey found that investors have existence expectations during decision -making. Positive feedback transactions not only exist in the short term, but may even exist for a long time. Dillon, Shelever, Summer, and Delong (Delong, ShLEIFER), through the positive feedback trading model they have established, found that rational investors used positive feedback transactions to profit, which promoted the rise in prices and foaming, and even even if是理性投资者也会相信价格在短期内延续过去的变动趋势而长期内回归到平均价格，他们还发现正反馈投资者和理性投资者都有可能对信息反应过度，从而使得价格上升的幅度超过The reasonable range of information can be proven. Some scholars use the theory of flock behaviors to explain the phenomenon of excessive fluctuations, fashion and foam in the asset market.
The characteristics of economic bubble:
This economy mainly refers to the excessive increase of virtual capital
The so -called virtual capital refers to existence in the form of securities and can bring a certain income to the holder to bring a certain amount of income Capitals, such as stocks, corporate or national bonds. As Marx said: "The price securities itself has no value, they just represent the right to obtain benefits." ("Complete Works of Marx Engels", Vol. 25, p. 532) All securities are certificates of capital ownership. Capital, but "Capital's Paper Copy" (pp. 540 above) it just indirectly reflects the movement of actual capital. Valuable securities can be traded in the securities market, forming market prices and stock prices proportional to dividends. The same interest rate is inversely influenced by the macroeconomic situation and government policies. Therefore, virtual capital has considerable economic bubbles, excessive growth of virtual capital, and continuous expansion of related transactions. The bubble economy, the final stock price plummeted, causing the bubble to be shattered and caused a socio -economic shock.
The soaring land price is also a manifestation of the bubble economy
The land price formation: First, as the original land -natural resources, it is not created by labor and has no value. From this perspective, the price of land is the capitalization of land rent, which is largely determined by the scarcity of land resources and unlimited driving market demand; The condensation, solid and valuable, the land price part determined by this part of the value is a reflection of the land value. The price of the previous land, because the land scarcity and market demand were driven directly, showing irregular motion status in market transactions, the price is the right price of the income (land rent), which also contains more economic bubbles Essence If the land price is soaring and the actual value of the land is getting farther and farther, the foam economy will be formed. Once the bubble is broken, the land price plummets will bring great harm to the socioeconomic economy.