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Beauty Contests and Irrational Exuberance: A Neoclassical Approach

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NBER2010-04-01 更新2025-01-04 收录
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The arrival of new, unfamiliar, investment opportunities is often associated with "exuberant" movements in asset prices and real economic activity. During these episodes of high uncertainty, financial markets look at the real sector for signals about the profitability of the new investment

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2010-04-01
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