The Impossibility of Rational Bubbles
收藏NBER1985-05-01 更新2025-01-04 收录
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https://www.nber.org/papers/w1615
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A rational bubble would involve a self-confirming belief that an asset price depends on information that includes variables or parameters that are not part of market fundamentals. The existing literature shows that, if market fundamentals are economically interesting, i.e., forward looking, any
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美国国家经济研究局创建时间：
1985-05-01
