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Emotions and Subjective Crash Beliefs

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NBER2024-06-01 更新2025-01-04 收录
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Over the past two decades, respondents to the Shiller Investor Confidence Surveys have assessed the probability of a catastrophic stock market crash to be much higher than the historical frequency of such events. We decompose these crash probabilities into fundamental and subjective components and

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2024-06-01
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