Financial Market Drift

The book explores the growing prominence of international financial markets and their potential separation from the real economy. It documents the debate surrounding this decoupling, examining whether it's a positive development or a source of risk. By structuring diverse arguments around a decoupling hypothesis, it presents various models and identifies key stylized facts. The work aims to contextualize these issues within established scientific research, offering a comprehensive analysis of the implications for both the financial sector and broader economic dynamics.