Ruling Out Nonstationary Speculative Bubbles
收藏NBER1985-04-01 更新2025-01-04 收录
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https://www.nber.org/papers/w1601
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资源简介：
There is a large and growing empirical literature that tests forthe existence of asset-price bubbles or "sunspot" equilibria -- equilibria unrelated to market fundamentals. Our view is that even tests for non-stationary asset-price bubbles should not be interpreted as such. In the present paper we
提供机构：
美国国家经济研究局
创建时间：
1985-04-01
