Phillips, Peter C.B.; Wu, Yangru; Yu, Jun - School of Economics, Singapore Management University - 2009
A recursive test procedure is suggested that provides a mechanism for testing explosive behavior, date-stamping the … origination and collapse of economic exuberance, and providing valid con¡¥dence intervals for explosive growth rates. The method … practical applications, and some new limit theory for mildly explosive processes. The test procedure is shown to have …