{"id":2156,"date":"2011-08-18T11:58:20","date_gmt":"2011-08-18T09:58:20","guid":{"rendered":"http:\/\/www.poleconomix.gr\/portal\/?p=2156"},"modified":"2011-08-18T11:58:20","modified_gmt":"2011-08-18T09:58:20","slug":"market-psychology-high-unemployment-and-rational-bubbles","status":"publish","type":"post","link":"https:\/\/www.poleconomix.gr\/portal\/market-psychology-high-unemployment-and-rational-bubbles\/","title":{"rendered":"Market psychology, high unemployment and rational bubbles"},"content":{"rendered":"<p><a href=\"http:\/\/www.voxeu.org\/index.php?q=node\/2913\" target=\"_blank\">Farmer, Roger<\/a>.\u00a0<\/p>\n<p>One explanation for the 2007-09 global crisis is that consumers, markets, and politicians were gripped by \u201cirrational exuberance\u201d that led them to believe the record-high house prices and stock prices were sustainable. This column proposes a new explanation based on rational behaviour and microeconomic theory. It argues that however high stock prices rise, there is always an equilibrium in which they can rise further.<\/p>\n<p><strong>\u03a0\u03b7\u03b3\u03ae:<\/strong> Voxeu<\/p>\n<p><a href=\"http:\/\/www.voxeu.org\/index.php?q=node\/6882\" target=\"_blank\">\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Farmer, Roger.\u00a0 One explanation for the 2007-09 global crisis is that consumers, markets, and politicians were gripped by \u201cirrational exuberance\u201d that led them to believe the record-high house prices and stock prices were sustainable. This column proposes a new explanation based on rational behaviour and microeconomic theory. It argues that however high stock prices rise, [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36,18],"tags":[28,27],"class_list":["post-2156","post","type-post","status-publish","format-standard","hentry","category-36","category-18","tag-28","tag-27"],"_links":{"self":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/2156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/comments?post=2156"}],"version-history":[{"count":1,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/2156\/revisions"}],"predecessor-version":[{"id":2157,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/2156\/revisions\/2157"}],"wp:attachment":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/media?parent=2156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/categories?post=2156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/tags?post=2156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}