and 2015, supporting the Greater Fool theory of bubbles. The inexperienced and naive new investors appear more likely to …, attracted by soaring stock prices and the intensive trading activities of others, drove the Chinese stock market bubbles in 2007 …

value. Although there are several important theoretical issues surrounding the topic of asset bubbles, the existence of … bubbles is inherently an empirical issue that has not been settled yet. This paper reviews several important tests and offers …

This paper explores the characteristics associated with the formation of bubbles that occurred in the Hong Kong stock …

This paper proposes a framework to study contagious stock bubbles in a multi-sector production economy with … heterogeneous investment technologies. Due to financial frictions, stock bubbles arise endogenously that help inject additional … liquidity. Due to financial linkages, the existence of bubbles in different sectors may be interdependent. Theoretically, we …