The title of the book "Irrational Exuberance" is taken from a sentence quoted by Chairman of the Board of Governors of the Federal Reserve Board Greenspan in his speech at the Hilton Hotel in Washington at the end of 1996 when he talked about the price bubble of American financial assets at that time. saying. Since then, many scholars and experts have noticed the investment bubble phenomenon caused by excessive speculation in the U.S. stock market. The British "Economist" magazine has even predicted many times that the investment bubble in the United States will burst. However, every time the U.S. stock market shows symptoms of collapse, another wave of speculative enthusiasm will be injected, allowing the stock market to temporarily maintain its strength until recently. There are signs of a soft landing.

Author: (American) Hiller, translated by Li Xindan and others

Publisher: Renmin University Press

Publishing time: 2008-1

Number of words: 334000

Number of pages: 302

Format: 16 pages

I S B N: 9787300087696

Packaging: Paperback

Category: Booksgt;gt; Managementgt;gt; Finance/Investmentgt;gt; Financial theory

Pricing: ￥35.00

In "Irrational Exuberance" "(Second Edition), Professor Robert Shiller has timely revised and updated the content of the first edition in 2000, and re-explained the theme of market fluctuations that brought him international reputation. Shiller breaks new ground in this second edition, showing us in a clearer and more thorough way the emergence and bursting of market bubbles that can shake up economies and seriously affect people's lives.

In the first edition, Professor Shiller successfully predicted the decline of the stock market. In this book, he expanded his research to the current hot real estate market and devoted a chapter to discussing the United States. The historical trend of domestic and international housing prices in "Irrational Exuberance"

In this book, Shiller uses a large amount of evidence to illustrate that if the stock market in the late 1990s, the current boom in the real estate market is implicit in There's a lot of bubbles going on, and eventually home prices may start to fall in the next few years. He believes that after the stock market bubble burst in 2000, many investors invested their money in the real estate market, which caused real estate prices in the United States and around the world to rise to varying degrees. Therefore, irrational exuberance does not disappear, but reappears in another market.

Based on the first edition, Professor Shiller described the psychological roots of financial market fluctuations, and focused on enumerating and discussing the inherent instability of the capital market in a free market economy. For example, the impact of Alan Greenspan’s famous “Irrational Exuberance” speech on people.

He believes that the ultimate way out of this predicament lies in the improvement of social systems, such as further improving the social security system, increasing insurance types to protect people's income and housing, and more diversified investment options. Like the first edition of the book, this second edition of Irrational Exuberance is sure to attract even more people to read and discuss it.

Introduction

Author: Yi Xianrong

Publisher: Peking University Press

Publication time: 2006-5-1

Number of words: 179000

Edition: 1

Number of pages: 222

Printing time: 2006-5-1

Paper: Offset paper

I S B N: 9787301103531

Packaging: Paperback

Introduction

Modern economics has long become a social The "jewel" in the crown of science, the "extraordinary knowledge" that the world longs for, how many people with lofty ideals have given guidance and inspired writing, hoping to transform their ideals into the reality of life, hoping to transform their wishes into guides for the people. What's more, there are those who take advantage of people's curiosity and ignorance to turn academic theories into ideologies to sweep away social wealth and make their own money.

Regarding these, a person may not have the power to restrain a chicken, but he should have a conscience to clearly distinguish and analyze, not only to prevent himself from being confused by it, but also to prevent others from being deceived. If more people in our society care about this, then our society will become better day by day. This book may be a little bit of that care.

About the author

Yi Xianrong was born in Shanggao, Jiangxi in 1958. In 1982, he entered East China Normal University in Shanghai and received his bachelor's and master's degrees in successive years. In 1994, he entered the Department of Finance and Trade of the Graduate School of the Chinese Academy of Social Sciences and received his doctorate in 1997. From July 1997 to September 1999, he worked at the Economics Postdoctoral Mobile Station of Renmin University of China. Currently, he is a researcher at the Institute of Finance, Chinese Academy of Social Sciences and director of the Financial Development Office. He is the author of more than 20 books including "Introduction to Modern Contract Economics", "Transaction Behavior and Contract Selection", "Research on Coasian Economic Thought", and "Financial Market and Institutional Choice".