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Evidence on Rationality in Commercial Property Markets : An Interpretation and Critique
Hendershott, Patric - 2005
Periodic sharp sustained increases and then reversals in asset prices lead many to posit irrational price bubbles. The …
Persistent link: https://www.econbiz.de/10012467354
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Rational Finite Bubbles
Allen, Franklin - 1991
There has been a long-running debate about whether stock market prices are determined by fundamentals. To date no consensus has been reached. An important issue in this debate concerns the circumstances in which deviations from fundamentals are consistent with rational behavior. A...
Persistent link: https://www.econbiz.de/10012475283
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The Macroeconomics of Rational Bubbles : A User's Guide
Martin, Alberto - 2018
This paper provides a guide to macroeconomic applications of the theory of rational bubbles. It shows that rational … bubbles can be easily incorporated into standard macroeconomic models, and illustrates how they can be used to account for … important macroeconomic phenomena. It also discusses the welfare implications of rational bubbles and the role of policy in …
Persistent link: https://www.econbiz.de/10012453479
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Monetary Policy and Rational Asset Price Bubbles
Galí, Jordi - 2013
I examine the impact of alternative monetary policy rules on a rational asset price bubble, through the lens of an overlapping generations model with nominal rigidities. A systematic increase in interest rates in response to a growing bubble is shown to enhance the fluctuations in the latter,...
Persistent link: https://www.econbiz.de/10012459855
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Measuring Bubble Expectations and Investor Confidence
Shiller, Robert J. - 1999
This paper presents evidence on attitude changes among investors in the US stock market. Two basic attitudes are explored: bubble expectations and investor confidence. Semiannual time-series indicators of these attitudes are presented for US stock market institutional investors based on...
Persistent link: https://www.econbiz.de/10012471792
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Inexperienced Investors and Bubbles
Greenwood, Robin - 2008
a role in the formation of asset price bubbles. Using age as a proxy for managers' investment experience, we find that …
Persistent link: https://www.econbiz.de/10012464534
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Advisors and Asset Prices : A Model of the Origins of Bubbles
Hong, Harrison - 2007
We develop a model of asset price bubbles based on the communication process between advisors and investors. Advisors …
Persistent link: https://www.econbiz.de/10012465142
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Asset Float and Speculative Bubbles
Hong, Harrison - 2005
We model the relationship between asset float (tradeable shares) and speculative bubbles. Investors trade a stock with …
Persistent link: https://www.econbiz.de/10012467316
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Speculative Dynamics of Prices and Volume
DeFusco, Anthony A. - 2017
We present a dynamic theory of prices and volume in asset bubbles. In our framework, predictable price increases …
Persistent link: https://www.econbiz.de/10012455232
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Speculative Fever : Investor Contagion in the Housing Bubble
Bayer, Patrick - 2016
, abound. While the role of investor contagion in asset bubbles has been explored extensively in the theoretical literature …
Persistent link: https://www.econbiz.de/10012456609