Synthesisof sectoral studies of the currency, energy, and residential property markets

Trevor Evans and Hansjorg Herr
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Trevor Evans: Institute for International Political Economy, Berlin School of Economics and Law
Hansjorg Herr: Institute for International Political Economy, Berlin School of Economics and Law

Working papers from Financialisation, Economy, Society & Sustainable Development (FESSUD) Project

Abstract: The markets for foreign exchange, energy and residential housing have all been strongly affected by the deregulation and expamsiomm of the financial sector. As a result they have begun to follow the logic of asset markets. This was especially marked in the case of the foreign exchange market from the 1970s, but has also been the case to some extent for residential housing markets since the mid-1990s and more strongly for energy markets since the early 2000s. Deregulation has led to far greater price volatility and the rise of unsustainable price and credit bubbles which, when they burst, can pose a significant threat to financial and economic stability. For this reason, these markets should be subjected to new and appropriate forms of regulation.

Keywords: Asset bubbles; financial crises; foreign exchange rates; energy prices; house prices (search for similar items in EconPapers)
JEL-codes: E32 E44 E65 G18 G21 G28 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2015-09-01
New Economics Papers: this item is included in nep-mac
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