Evidence on Rationality in Commercial Property Markets: An Interpretation and Critique
收藏NBER2005-05-01 更新2025-01-04 收录
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https://www.nber.org/papers/w11329
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Periodic sharp sustained increases and then reversals in asset prices lead many to posit irrational price bubbles. The general case for irrationality is that real asset prices simply have moved too much given the future real cash flows the assets are reasonably likely to produce. A corollary for
提供机构：
美国国家经济研究局
创建时间：
2005-05-01
