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asset market bubbles occur in all sessions, but global markets had significantly more extreme and longer duration valuation … bubbles. Additionally, subjects at the most suboptimal times-of-day held significantly more asset shares in their portfolios …
Persistent link: https://www.econbiz.de/10011731909
asset pricing in line with rational bubbles. We show that the response of the excessive stock price component to a monetary …
Persistent link: https://www.econbiz.de/10011526074
Asset price bubbles have fascinated economists for decades. In consequence, the literature on bubbles and their … rational bubbles. We focus in particular on recently developed bubble detection methods, namely recursive unit root tests … prices. As a result, they avoid testing a joint hypothesis of the presence of rational bubbles and the validity of the model …
Persistent link: https://www.econbiz.de/10012862168
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
This paper argues that short selling might give rise to bubbles that would otherwise not exist in equilibrium. It is …
Persistent link: https://www.econbiz.de/10013238298
reflects very well the financial market crises and pricing bubbles over the past 20 years. …
Persistent link: https://www.econbiz.de/10010427987
We empirically evaluate a behavioural model with boundedly rational traders who disagree about the persistence of deviations from the fundamental stock price. Fundamentalist traders believe in mean-reversion, while chartists extrapolate trends. Agents gradually switch between the two rules,...
Persistent link: https://www.econbiz.de/10011301214
Persistent link: https://www.econbiz.de/10009767005
that low economic growth propagates bubbles. Further exploration of the cyclicality in the bubbly asset shows that its …
Persistent link: https://www.econbiz.de/10012870109
the dynamics of Bitcoin price during the analyzed time period. We explain this classification of long and short bubbles by … over this period. Then, a detailed analysis of the growing risks associated with the three long bubbles using the Log … bubbles and the four short bubbles that our time scale of analysis was able to resolve. Overall, our predictive scheme …
Persistent link: https://www.econbiz.de/10011899669