The Macroeconomic Effects of Information Asymmetry in the Capital Markets

Robert G. Kuklik

European Financial and Accounting Journal, 2012, vol. 2012, issue 1, 62-73

Abstract: It is possible to say that no matter how the Efficient Market Hypothesis has been criticized and/or overhauled, a degree of the relevant data proliferation is crucial to the investor's decision making process. The information asymmetry is then a phenomenon which creates distortions in a performance of the capital market. The "pseudoeffective" market model is attempting to highlight the impact of this phenomenon on some macroeconomic variables conducive to the general economic equilibrium.

Keywords: Actual return; Effective market equilibrium; Information asymmetry; IS-LM framework.; Pseudoeffective market model (search for similar items in EconPapers)
JEL-codes: G14 (search for similar items in EconPapers)
Date: 2012
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DOI: 10.18267/j.efaj.15

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