Stock prices are a central element in a market economy, because they ensure that investment resources flow

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Stock prices are a central element in a market economy, because they ensure that investment resources flow to their most profitable uses. When occasional bubbles and crashes distort stock prices, they can destabilize the economy.

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Money Banking And Financial Markets

ISBN: 9781260226782

6th Edition

Authors: Stephen Cecchetti, Kermit Schoenholtz

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