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