price dynamics with recurring bubbles in all treatments …

Galvanized by the claims of Greenwood et al. in Bubbles for Fama that “a sharp price increase of an industry portfolio …, people have not come up with ways of identifying bubbles”, we present significant evidence to the contrary of both statements … price growth qualified by LPPLS: (i) bubbles followed by a large drawdown or crash, and (ii) price catch-up followed by a …

(and rally) discrete jump distributions associated with positive (and negative) bubbles. The RE condition implies that the …

At odds with the common “rational expectations” framework for bubbles, economists like Hyman Minsky, Charles … essential drivers for bubble phenomena and financial crises. Following this understanding that asset price bubbles are generated … management problem settings. This conception of bubbles also allows us to elucidate the status of rational expectation bubbles …

measure house price bubbles. We use an asset pricing approach to identify bubble periods retrospectively and then compare … ability to identify bubbles as they form. In view of the complexity of the asset pricing approach, we conclude that a simple …

The aim of this paper is to present novel tests for the early causal diagnostic of positive and negative bubbles in the … LPPLS (log-periodic power law singularity) approach successfully diagnoses positive and negative bubbles, constructs … efficient End-of-Bubble signals for all of the well-documented bubbles, and obtains for the first time new statistical evidence …