From Tulips to Black Swans – Have the Financial Rules Changed?

Stoian Andrei () and Becherescu Radu ()
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Stoian Andrei: The Academy of Economic Studies

Ovidius University Annals, Economic Sciences Series, 2013, vol. XIII, issue 1, 97-100

Abstract: From the tulip mania back in the 17th century in Holland up to the US subprime crisis considered by many a “black swan” – the unpredictable and improbable event that had such a great impact, the financial world has been hit by many crises. This paper emphasizes the idea that although most of the economists did not predict the crises coming, the signs that eventually led to the dramatic outcomes were present and one should learn from these unfortunate events in order to better prevent and manage any future financial disasters

Keywords: financial crisis; subprime market; asymmetric information (search for similar items in EconPapers)
JEL-codes: F30 F65 G01 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xii:y:2012:i:1:p:97-100

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