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Rational bubbles and fractional integration
Kruse, Robinson (contributor) - 2008
hypothesis of a rational bubble. -- Fractional integration ; bubbles ; changing persistence …
Persistent link: https://www.econbiz.de/10003672198
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To see is to believe : common expectations in experimental asset markets
Cheung, Stephen L.; Hedegaard, Morten; Palan, Stefan - 2012
is as great as when training is absent. -- asset market experiment ; price bubbles ; common knowledge of rationality …
Persistent link: https://www.econbiz.de/10009631461
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Riding the South Sea Bubble
Temin, Peter; Voth, Hans-Joachim - 2012
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
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Market Depth, Leverage, and Speculative Bubbles
Enders, Zeno - 2019
We develop a model of rational bubbles based on leverage and the assumption of an imprecisely known maximum market size … lend to traders with limited liability in a bubble is endogenous. Bubbles reduce welfare of future investors. We provide … general conditions for the possibility of bubbles depending on uncertainty about market size, traders' degree of leverage and …
Persistent link: https://www.econbiz.de/10012899999
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Noisy Rational Bubbles
Peng, Qiusha - 2018
This paper develops a theory of asset price dynamics during extreme market episodes. In the model, noise trading breaks the winner's curse and leads to systematic overpricing. Over time, returns from resale opportunities diminish as learning proceeds, and asset prices tend to fall toward the...
Persistent link: https://www.econbiz.de/10012936919
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Wealth preference and rational bubbles
Michau, Jean-Baptiste; Ono, Yoshiyasu; Schlegl, Matthias - 2018
conditions, there can be rational bubbles. Hence, we provide a microfoundation for bubbles that relies on a frictionless infinite …
Persistent link: https://www.econbiz.de/10011867574
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Wealth preference and rational bubbles
Michau, Jean-Baptiste; Ono, Yoshiyasu; Schlegl, Matthias - 2018
conditions, there can be rational bubbles. Hence, we provide a microfoundation for bubbles that relies on a frictionless infinite …
Persistent link: https://www.econbiz.de/10011872947
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Wealth Preference and Rational Bubbles
Michau, Jean-Baptiste - 2018
conditions, there can be rational bubbles. Hence, we provide a microfoundation for bubbles that relies on a frictionless infinite …
Persistent link: https://www.econbiz.de/10012912377
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Wealth Preference and Rational Bubbles
Michau, Jean-Baptiste - 2018
conditions, there can be rational bubbles. Hence, we provide a microfoundation for bubbles that relies on a frictionless infinite …
Persistent link: https://www.econbiz.de/10012915581
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A Comment on Monetary Policy and Rational Asset Price Bubbles
Allen, Franklin; Barlevy, Gadi; Gale, Douglas M. - 2023
Galí (2014) showed that a monetary policy rule that raises interest rates in response to bubbles can paradoxically lead … to larger bubbles. This comment shows that a central bank that wants to dampen bubbles can always do so by raising … argue Galí's model contains additional equilibria in which more aggressive rules dampen bubbles. We show that for these …
Persistent link: https://www.econbiz.de/10014349449