speculative bubbles and/or noise trading behavior. Our empirical findings for the US stock market covering the 1871:1 - 2000 …

of perverse incentives and moral hazard that often gives rise to yet another round of bubbles. The US central bank …'s current premise is that policymakers cannot and should not target asset bubbles. However, the housing story has rendered … untenable the prevailing belief that bubbles are impossible to spot ahead of time. The warning signals were ubiquitous - for …

This paper develops an equilibrium model of speculative bubbles that can be used to explore the role of various … policies in either giving rise to or eliminating the possibility of asset bubbles, e.g. restricting the use of certain types of …"This paper develops an equilibrium model of speculative bubbles that can be used to explore the role of various …

with a low effective cost of capital based on optimism about the future availability of funds for investment. The key to …. The latter is more likely if bubbles develop along the expansionary path. These (rational) bubbles can emerge even when …

with a low effective cost of capital based on optimism about the future availability of funds for investment. The key to …. The latter is more likely if bubbles develop along the expansionary path. These (rational) bubbles can emerge even when …