Shakeouts and Market Crashes
收藏NBER2004-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w10556
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资源简介：
Stock-market crashes tend to follow run-ups in prices. These episodes look like bubbles that gradually inflate and then suddenly burst. We show that such bubbles can form in a Zeira-Rob type of model in which demand size is uncertain. Two conditions are sufficient for this to happen: A declining
提供机构：
美国国家经济研究局
创建时间：
2004-06-01
