A non-technical guide to the economics of boom and bust
In a readable, non-technical guide the author explores the implications and the solutions for individuals, companies and central banks now that asset prices dominate the economic system. Underlying all of this is the question of where asset prices should be, for example what is the “right” price earnings ratio for stocks or house prices? This is a highly controversial area but the author argues, if there are not exact levels, there are ranges or averages for these assets in which individuals can invest accordingly.
John Calverley is Chief Economist and Strategist at American Express Bank and has been analysing and writing on economics and markets for more than 25 years. He edits the Bank’s suite of publications on economic and market trends, Economics for Investment. He is the author of numerous articles on international economic issues and several books including Emerging Stock Markets after the Crisis and Investor’s Guide to Economic Fundamentals. He often appears on CNN, CNBC and the BBC. He is a Fellow and former Chairman of the Society of Business Economists in the UK and is a Council Member of SUERF (Societe Universitaire Europeenne de Recherches Financieres).
2004, Published by Nicholas Brealey Publishing, ISBN 978 1 85 788348 0, 248pp. HB