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Major bubble episodes are rare events. In this paper, we examine what factors might cause some asset price bubbles to …
Persistent link: https://www.econbiz.de/10010359796
Clientele-based theories explaining asset price bubbles are often difficult to test because the identities of investors …
Persistent link: https://www.econbiz.de/10012656998
directions and perspectives on bubbles …
Persistent link: https://www.econbiz.de/10012932159
This paper provides an early warning indicator for bubbles in financial markets. The indicator is based on traditional … consensus bubbles and gives warning signals well ahead of the crash, in most cases as early as 12 months ahead. The indicator … also signals most of the 'negative bubbles' before their turning points …
Persistent link: https://www.econbiz.de/10013111338
Clientele-based theories explaining asset price bubbles are often difficult to test because the identities of investors …
Persistent link: https://www.econbiz.de/10013322688
This paper presents a case study of a well-informed investor in the South Sea bubble. We argue that Hoare's Bank, a fledgling West End London banker, knew that a bubble was in progress and that it invested knowingly in the bubble; it was profitable to ride the bubble. Using a unique dataset on...
Persistent link: https://www.econbiz.de/10014073923
Persistent link: https://www.econbiz.de/10012219022
Major bubble episodes are rare events. In this paper, we examine what factors might cause some asset price bubbles to …
Persistent link: https://www.econbiz.de/10013056391
Major bubble episodes are rare events. In this paper, we examine what factors might cause some asset price bubbles to …
Persistent link: https://www.econbiz.de/10013077506
Using a hand-collected dataset, we examine share trading activity over the period 1882 to 1920 for the North British and Mercantile Insurance Company, one of the largest UK companies of the time. Our main finding is that the steady flow of rentiers into the shareholding constituency of this...
Persistent link: https://www.econbiz.de/10011799911