Acuña, Andrés; Pinto, Cristián - In: Lecturas de Economía (2009) 70, pp. 39-61
model for financial asset pricing. We contrast between observed and expected Chilean stock price volatility under an … 2007. Performing volatility tests, we find evidence of excess volatility in Chilean stock market prices. We cannot link … this stock price excess volatility to the existence of a rational speculative bubble, nor to discount rate's excess …
