This paper explores the existence of rational bubbles in the pricing of an asset that pays no dividend. I find that … when "the spirit of capitalism" is introduced into a growth model, rational bubbles do exist provided that the marginal …, could exist. This could provide a simple theoretical foundation to explore economic implications of the collapse of bubbles. …

We detected rational bubbles in 22 emerging stockmarkets using both standard and threshold cointegration. Eighteen … stockmarkets experienced explosive bubbles (and some of them periodically collapsing bubbles as well). The remaining four markets … experienced periodically collapsing bubbles only. …

contributed to bubbles in the new and emerging markets. Based on the monetary overinvestment theories of Hayek and Wicksell we … describe a wave of bubbles and crises that was initiated in Japan by an expansionary monetary policy in the mid 1980s. After … the burst of the Japanese bubble and sharply declining interest rates in Japan, carry trade transmitted the bubbles to …

Although the British Railway Mania has been described as one of the greatest bubbles in history, it has been largely …