Phillips, Peter C. B.; Shi, Shu-Ping; Yu, Jun - School of Economics, Singapore Management University - 2013
dating financial bubbles. These procedures are useful as warning alerts in surveillance strategies conducted by central banks … origination and termination of multiple bubbles. Simulations show that the test significantly improves discriminatory power and … leads to distinct power gains when multiple bubbles occur. An empirical application of the methodology is conducted on S …