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Remarks on financial crisis, speculative bubles and some specifics in the Czech Economy

Author

Listed:
  • Bochun Zhu

    (University of Economics, Prague)

  • Bo?ena Kade?ábková

    (University of Economics, Prague)

Abstract

This paper deals with financial crisis and bubbles on financial markets. Authors first compare theoretical approaches to the crisis, then identify common characteristics of past financial crisis and the recent crises, then analyze price bubbles as a possible source of the crisis, ways of their estimation and possible responses of economic policies. The analytical part is focused on the case of the Czech Republic, as the paper finds some specific features in the bubble performance in the Czech Republic, as the Czech economy was characterized by the low cost of labour and very low price of properties, a heritage of the transformation era.

Suggested Citation

  • Bochun Zhu & Bo?ena Kade?ábková, 2024. "Remarks on financial crisis, speculative bubles and some specifics in the Czech Economy," Proceedings of International Academic Conferences 7109710, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iacpro:7109710
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    References listed on IDEAS

    as
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    2. Bordo, Michael & James, Harold, 2014. "The European Crisis in the Context of the History of Previous Financial Crises," Journal of Macroeconomics, Elsevier, vol. 39(PB), pages 275-284.
    3. Bordo, Michael D. & Meissner, Christopher M., 2012. "Does inequality lead to a financial crisis?," Journal of International Money and Finance, Elsevier, vol. 31(8), pages 2147-2161.
    4. Bernanke, Ben S, 1983. "Nonmonetary Effects of the Financial Crisis in Propagation of the Great Depression," American Economic Review, American Economic Association, vol. 73(3), pages 257-276, June.
    5. Aizenman, Joshua & Noy, Ilan, 2013. "Macroeconomic adjustment and the history of crises in open economies," Journal of International Money and Finance, Elsevier, vol. 38(C), pages 41-58.
    6. Claudio Borio & Piti Disyatat, 2011. "Global imbalances and the financial crisis: Link or no link?," BIS Working Papers 346, Bank for International Settlements.
    7. Nathalie Girouard & Mike Kennedy & Paul van den Noord & Christophe André, 2006. "Recent House Price Developments: The Role of Fundamentals," OECD Economics Department Working Papers 475, OECD Publishing.
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    More about this item

    Keywords

    Financial crises; Speculative bubbles; Specifics features in the Czech economy;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • G01 - Financial Economics - - General - - - Financial Crises

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