Financial Services Industry
Industry: Email Alert RSS FeedIrrational Exuberance.(Robert Shiller )(Brief article)(Book review)
Financial Management (Chartered Institude of Management Accountants), March, 2006 by Brooks, Mike
IRRATIONAL EXUBERANCE Author: Robert Shiller Publisher: Princeton University Press Price: 17.95 [pounds sterling] ISBN: 0691123357
The title refers to a comment by Alan Greenspan, the former chairman of the US Federal Reserve, in a speech to the American Enterprise Institute in December 1996. He was alluding to the difficulties of relating the prolonged increase in equity prices to any real change in business fundamentals and went on to warn of the dangers to the world economy of a sudden reversal resulting from this trend.
This second edition is a timely update of Robert Shiller's bestseller, first published in 2000 just as the US stock market was about to go over the edge. Shiller is professor of economics at Yale and, while his book has all the...
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