%0 Journal Article
%T A Kind of Neither Keynesian Nor Neoclassical Model (7): The Cause of the Financial Crisis
%A Zhan Zhan
%A MingˇŻan Zhan
%J Open Access Library Journal
%V 5
%N 12
%P 1-16
%@ 2333-9721
%D 2018
%I Open Access Library
%R 10.4236/oalib.1105084
%X <div style="text-align:justify;">
	<span style="line-height:1.5;">There are two reasons for the financial crisis. One is the spontaneous specula-tion in the capital market. The P/E ratio of the speculative object is much high-er than the ratio of capital to output in the factual economic system. The other is the crisis triggered by the bubble environment. In addition, inflation has a strong inhibitory effect on asset bubbles, and high inflation and asset bubbles will not occur at the same t</span><span style="line-height:1.5;">ime. These can be verified by statistical data and theoretical explanation from the marginal state equation of Cobb-Douglas function.</span>
</div>
%K Cobb-Douglas Function
%K P/E Ratio
%K Endogenous Earnings
%K Exogenous  Earnings
%U http://www.oalib.com/paper/5302125