Some Virtues of Speculation |
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| Authors: | Wolfgang Kasper |
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| Affiliation: | Wolfgang Kasper is Professor of Economics and head of the Department of Economics and Management, University of New South Wales, Canberra, Australia. He is author of numerous articles and books and is at present working on the financial and economic reforms of China and small Pacific economies. |
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| Abstract: | Why are stock markets and foreign exchange markets so volatile? Professor Wolfgang Kasper, of the University of New South Wales, explains the difference between flow and asset markets and argues that changes in expectations cause the volatility of the latter. |
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