Speculative Growth
收藏NBER2002-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w9381
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资源简介：
We propose a framework for understanding recurrent historical episodes of vigorous economic expansion accompanied by extreme asset valuations, as exhibited by Japan in the 1980's and the U.S. in the 1990's. We interpret this phenomenon as a high-valuation equilibrium with a low effective cost of
提供机构：
美国国家经济研究局
创建时间：
2002-12-01
