Journal Article

Asset Bubbles: Detecting and Measuring Them Are Not Easy Tasks

Abstract: Market bubbles are linked to many historic financial crises, but asset price run-ups can reflect both fundamental value changes and psychological contagion. Using historic values of commonly held assets (stocks and real estate), a novel ?exuberance index? offers a way to compare bubbles.

Keywords: Exuberance index; Asset prices; Financial crises; Periods of explosive behavior; Asset bubbles;

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Bibliographic Information

Provider: Federal Reserve Bank of St. Louis

Part of Series: The Regional Economist

Publication Date: 2015

Issue: July

Order Number: 1