Manias, Panics, and Crashes¶
Kindleberger, C. P., & Bernstein, P. L. (1978). Manias, Panics, and Crashes: A History of Financial Crises. Basic Books.
Cited by¶
5 citations across 5 artifacts.
Each citation links to the sentence it supports in the citing article.
Primes¶
- Culminating Point
- In speculative bubbles, price advance carries past the point where new buyers can be recruited at scale, making the eventual correction more violent the longer it continues.
This sourceClassic account of speculative bubbles carrying price past sustainable demand, with the correction more violent the longer the advance persists.
- In speculative bubbles, price advance carries past the point where new buyers can be recruited at scale, making the eventual correction more violent the longer it continues.
- Exposure Creep
- Behavioural finance supplies the recency-weighted decision rule itself — "this time is different" is its verbal form — linking the geography cases to the financial-stability ones.
This sourceClassic account of how quiet, low-volatility regimes and the "this time is different" belief drive leveraged exposure into correlated assets, so the eventual crash loss is driven by the accumulated stake. (Robert Z. Aliber became co-author only in later editions.)
- Behavioural finance supplies the recency-weighted decision rule itself — "this time is different" is its verbal form — linking the geography cases to the financial-stability ones.
- Speculative Bubble
- A speculative bubble is the structural pattern in which the valuation of an asset (or any pursued quantity) detaches from its underlying fundamentals through a self-reinforcing feedback loop—rising values attract more buyers expecting further rises, which drives values higher still—until the loop exhausts its inflow and reverses sharply into a crash, a dynamic Kindleberger (1978) traced across three centuries of financial episodes as a recurrent anatomy rather than a series of unrelated accidents.
This sourceFoundational historical treatment establishing the bubble as a recurrent anatomy—displacement, boom, euphoria, distress, crash—across three centuries of financial episodes rather than a series of unrelated accidents.
- A speculative bubble is the structural pattern in which the valuation of an asset (or any pursued quantity) detaches from its underlying fundamentals through a self-reinforcing feedback loop—rising values attract more buyers expecting further rises, which drives values higher still—until the loop exhausts its inflow and reverses sharply into a crash, a dynamic Kindleberger (1978) traced across three centuries of financial episodes as a recurrent anatomy rather than a series of unrelated accidents.
- Supersaturation
- The intensive variable is the asset's price; the reference equilibrium is fundamental value (the price justified by cash flows or replacement cost).
This sourceClassic account of asset bubbles in which price runs far above fundamental value, sustained by expectational reinforcement, then liquidates abruptly when a precipitating event triggers selling — the financial analogue of supersaturation and its gap-sized release.
- The intensive variable is the asset's price; the reference equilibrium is fundamental value (the price justified by cash flows or replacement cost).
- Tension And Release
- Economics. Speculative bubble build-up and crash — a long-timescale tension-release experienced retrospectively as a single arc; tighten-then-cut cycles in monetary policy.
This sourceThe speculative bubble build-up and crash as a single long-timescale arc of mounting instability and violent resolution.
- Economics. Speculative bubble build-up and crash — a long-timescale tension-release experienced retrospectively as a single arc; tighten-then-cut cycles in monetary policy.
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Links previously used in the corpus¶
Before the registry existed this work was also linked 3 other ways.
- https://doi.org/10.1057/9780230628045 ×1
- https://link.springer.com/book/10.1007/978-1-349-04338-5 ×1
- https://link.springer.com/book/10.1057/9780230536753 ×1
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