Testing for Speculative Bubbles in Stock Markets
Author | : Ulrich-Michael Homm |
Publisher | : |
Total Pages | : 100 |
Release | : 2008 |
Genre | : |
ISBN | : |
Download Testing for Speculative Bubbles in Stock Markets Book in PDF, Epub and Kindle
Download Testing For Speculative Bubbles In Stock Markets full books in PDF, epub, and Kindle. Read online free Testing For Speculative Bubbles In Stock Markets ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Author | : Ulrich-Michael Homm |
Publisher | : |
Total Pages | : 100 |
Release | : 2008 |
Genre | : |
ISBN | : |
Author | : Lii-Tarn Chen |
Publisher | : |
Total Pages | : 240 |
Release | : 1995 |
Genre | : Speculation |
ISBN | : |
Author | : Aslı Demirgüç-Kunt |
Publisher | : |
Total Pages | : 24 |
Release | : 1988 |
Genre | : Speculation |
ISBN | : |
Author | : Mathias Binswanger |
Publisher | : Edward Elgar Publishing |
Total Pages | : 392 |
Release | : 1999 |
Genre | : Business & Economics |
ISBN | : |
Examining the role of speculative bubbles in the stock market, this text argues that, provided they are sustainable, bubbles may have a positive effect on the market. They may provide additional investment opportunities with the potential to increase aggregate profits and improve economic welfare.
Author | : Kenneth David West |
Publisher | : |
Total Pages | : 28 |
Release | : 1986 |
Genre | : Dividends |
ISBN | : |
Author | : G.P. Dwyer |
Publisher | : Springer Science & Business Media |
Total Pages | : 206 |
Release | : 2013-03-09 |
Genre | : Business & Economics |
ISBN | : 9401578818 |
Gerald P. Dwyer, Jr. and R. W. Hafer The articles and commentaries included in this volume were presented at the Federal Reserve Bank of St. Louis' thirteenth annual economic policy conference, held on October 21-22, 1988. The conference focused on the behavior of asset market prices, a topic of increasing interest to both the popular press and to academic journals as the bull market of the 1980s continued. The events that transpired during October, 1987, both in the United States and abroad, provide an informative setting to test alter native theories. In assembling the papers presented during this conference, we asked the authors to explore the issue of asset pricing and financial market behavior from several vantages. Was the crash evidence of the bursting of a speculative bubble? Do we know enough about the work ings of asset markets to hazard an intelligent guess why they dropped so dramatically in such a brief time? Do we know enough to propose regulatory changes that will prevent any such occurrence in the future, or do we want to even if we can? We think that the articles and commentaries contained in this volume provide significant insight to inform and to answer such questions. The article by Behzad Diba surveys existing theoretical and empirical research on rational bubbles in asset prices.
Author | : Robert P. Flood |
Publisher | : MIT Press |
Total Pages | : 528 |
Release | : 1994 |
Genre | : Business & Economics |
ISBN | : 9780262061698 |
The papers in this book are grouped into three sections: the first on price bubbles is primarily financial; the second on speculative attacks (on exchange rate regimes) is international in scope; and the third, on policy switching, is concerned with monetary policy.
Author | : Garett Jones |
Publisher | : Springer |
Total Pages | : 365 |
Release | : 2016-01-26 |
Genre | : Business & Economics |
ISBN | : 1137553790 |
Why do banks collapse? Are financial systems more fragile in recent decades? Can policies to fix the banking system do more harm than good? What's the history of banking crises? With dozens of brief, non-technical articles by economists and other researchers, Banking Crises offers answers from diverse scholarly viewpoints.
Author | : Kenneth Szulczyk |
Publisher | : |
Total Pages | : 29 |
Release | : 2019 |
Genre | : |
ISBN | : |
We scrutinize China, Hong Kong, Indonesia, Japan, Malaysia, Philippines, South Korea, Taiwan, and Thailand for the presence of rational bubbles by employing several tests on a large dataset that includes three bubble episodes. We also convert most tests into recursive to overcome structural breaks in the data that improve a bubble's detection. The unit root tests exhibit bubbles in all markets while the sup augmented Dickey-Fuller test suggests Hong Kong, Japan, and Thailand exhibit an explosive process. The cointegration tests show that Hong Kong, Japan, Malaysia, and Thailand may have bubbles while the explosiveness test shows evidence of bubbles in all markets for both weekly and monthly data. However, the duration dependence test identifies bubbles in six (two) Asian markets for weekly (monthly) returns. Thus, our results suggest that the rational bubble tests are enhanced from recursive tests using a large dataset that includes multiple bubble episodes.
Author | : David F. DeRosa |
Publisher | : CFA Institute Research Foundation |
Total Pages | : 206 |
Release | : 2021-04-02 |
Genre | : Business & Economics |
ISBN | : 1952927110 |
The presence of speculative bubbles in capital markets (an important area of interest in financial history) is widely accepted across many circles. Talk of them is pervasive in the media and especially in the popular financial press. Bubbles are thought to be found primarily in the stock market, which is our main interest, although bubbles are said to occur in other markets. Bubbles go hand in hand with the notion that markets can be irrational. The academic community has a great interest in bubbles, and it has produced scholarly literature that is voluminous. For some economists, doing bubble research is like joining the vanguard of a Kuhnian paradigm shift in economic thinking. Not so fast. If bubbles did exist, they would pose a serious challenge to neoclassical finance. Bubbles would contradict the ideas that markets are rational or work in an informationally efficient manner. That’s what makes the topic of bubbles interesting. This book reviews and evaluates the academic literature as well as some popular investment books on the possible existence of speculative bubbles in the stock market. The main question is whether there is convincing empirical evidence that bubbles exist. A second question is whether the theoretical concepts that have been advanced for bubbles make them plausible. The reader will discover that I am skeptical that bubbles actually exist. But I do not think I or anyone else will ever be able to conclusively prove that there has never been a bubble. From studying the literature and from reading history, I find that many famous purported bubbles reflect inaccurate history or mistakes in analysis or simply cannot be shown to have existed. In other instances, bubbles might have existed. But in each of those cases, there are credible rational explanations. And good evidence exists for the idea that even if bubbles do exist, they are not of great importance to understanding the stock market.