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The Economics of the Stock Market - Oxford Scholarship Online
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The Economics of the Stock Market

Andrew Smithers

Abstract

Since the 2008 financial crisis the neoclassical synthesis has increasingly been acknowledged as an unsatisfactory theory on which to base economic policy. Its failure to incorporate finance in its models is often identified as its most obvious weakness. While the stock market is not the only form of finance which needs to be incorporated into a satisfactory model for the economy it is an important element and this book presents a model which includes it. The neoclassical synthesis is not necessarily a completely unified body of doctrine, but the model presented here differs sharply from those ... More

Keywords: neoclassical synthesis, portfolio preference, risk aversion, hurdle rate, profit maximizing

Bibliographic Information

Print publication date: 2022 Print ISBN-13: 9780192847096
Published to Oxford Scholarship Online: March 2022 DOI:10.1093/oso/9780192847096.001.0001

Authors

Affiliations are at time of print publication.

Andrew Smithers, author
Founder, Smithers & Co.

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