Financial Market Drift

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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.