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Testing for speculative bubbles in stock prices

Author

Listed:
  • Asli Demirgüč-Kunt
  • Hashem Dezhbakhsh

Abstract

A modification of Kenneth West's method for investigating speculative bubbles in stock prices, in which a direct test of the \"no bubble\" hypothesis is applied to long-term annual U.S. stock-market data.

Suggested Citation

  • Asli Demirgüč-Kunt & Hashem Dezhbakhsh, 1988. "Testing for speculative bubbles in stock prices," Working Papers (Old Series) 8807, Federal Reserve Bank of Cleveland.
    • Handle: RePEc:fip:fedcwp:8807
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    Keywords

    Stock - Prices;

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