The Origin Of Financial Crises by George Cooper
Central Banks, Credit Bubbles and the Efficient Market Fallacy
This work argues that faith in market efficiency and narrow inflation targeting fosters instability by amplifying the credit cycle. Drawing on a feedback-based, Minsky-inspired framework, it shows how credit expansion and asset-price inflation build bubbles that inevitably crash, often worsened by central bank responses. It concludes with proposals to refocus policy on managing credit and asset prices to reduce boom-bust dynamics and improve financial stability.
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- Published
- 2008
- Nationality
- British
- Length
- Unknown
- Pages
- Unknown
- Original Language
- English
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