| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5089699 | Journal of Banking & Finance | 2012 | 7 Pages |
Abstract
⺠The emergence of crises is consistent with the efficient market paradigm. ⺠My asset pricing model includes rational traders with different horizons. ⺠Long-term fundamentalists contribute to liquidity reduction and fuel volatility. ⺠The market is more volatile with a few speculators than with many speculators. ⺠Efforts to limit speculation might end up increasing volatility.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Ariane Szafarz,