The boy who cried bubble: Public warnings against riding bubbles

研究成果: Article査読

2 被引用数 (Scopus)

抄録

Attempts by governments to stop bubbles by issuing warnings seem unsuccessful. This article examines the effects of public warnings using a simple model of riding bubbles. We show that public warnings against a bubble can stop it if investors believe that a warning is issued in a definite range of periods commencing around the starting period of the bubble. If a warning involves the possibility of being issued too early, regardless of the starting period of the bubble, it cannot stop the bubble immediately. Bubble duration can be shortened by a premature public warning, but lengthened if it is late.

本文言語English
ページ(範囲)1137-1152
ページ数16
ジャーナルEconomic Inquiry
52
3
DOI
出版ステータスPublished - 2014 7

ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Economics and Econometrics

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