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 finan...

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Bibliographic Details
Corporate Author: International Monetary Fund Research Dept
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2001
Series:IMF Staff Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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651 4 |a United States 
653 |a Inflation 
653 |a Institutional Investors 
653 |a Credit 
653 |a Stock exchanges 
653 |a Exchange rate arrangements 
653 |a Stocks 
653 |a Pension Funds 
653 |a Finance 
653 |a Monetary economics 
653 |a Financial institutions 
653 |a Financial Instruments 
653 |a Deflation 
653 |a Monetary Policy, Central Banking, and the Supply of Money and Credit: General 
653 |a Currency 
653 |a General Financial Markets: General (includes Measurement and Data) 
653 |a Money 
653 |a Domestic credit 
653 |a Price Level 
653 |a Non-bank Financial Institutions 
653 |a Foreign Exchange 
653 |a Investments: Stocks 
653 |a Demand for money 
653 |a Prices 
653 |a Macroeconomics 
653 |a Investment & securities 
653 |a Exchange rates 
653 |a Money and Monetary Policy 
653 |a Finance: General 
653 |a Foreign exchange 
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520 |a 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