IMF Staff Papers, Volume 47, No. 3

This paper provides an overview of the recent theoretical and empirical research on herd behavior in financial markets. It looks at what precisely is meant by herding, the causes of herd behavior, the success of existing studies in identifying the phenomenon, and the effect that herding has on financial markets. The paper also surveys a selected number of studies that evaluated the demand for money using the error-correction model approach in the 1990s across a range of industrial and developing countries.
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Volume/Issue: Volume 2001 Issue 002
Publication date: October 2001
ISBN: 9781451973747
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Business and Economics , Finance , Inflation , Money and Monetary Policy , SP , price level , inflation rate , credit growth , reserve country , indexed debt , country estimate , pegged-rate regime , issuance policy , Stocks , Exchange rate arrangements , Inflation , Domestic credit , Exchange rates , Asia and Pacific , Global

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Summary

This paper provides an overview of the recent theoretical and empirical research on herd behavior in financial markets. It looks at what precisely is meant by herding, the causes of herd behavior, the success of existing studies in identifying the phenomenon, and the effect that herding has on financial markets. The paper also surveys a selected number of studies that evaluated the demand for money using the error-correction model approach in the 1990s across a range of industrial and developing countries.

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