Phillips, Peter C. B.; Wu, Yangru; Yu, Jun - Hong Kong Institute for Monetary Research (HKIMR), … - 2007
origination and collapse of economic exuberance, and providing valid confidence intervals for explosive growth rates. The method … confirmation of explosiveness and date-stamps the origination of financial exuberance to June 1995, prior to the famous remark in … December 1996 by Alan Greenspan about irrational exuberance in financial markets, thereby giving the remark empirical content. …