자산가격 버블 : Asset Price Bubbles
A Survey of Recent Theoretical Literature
- 주제(KDC) 320.000
- 발행기관 서강대학교 경제연구소
- 발행년도 2003
- 총서유형 Journal
- 본문언어 한국어
초록/요약
In recent years, there has been much reassessment and reevaluation by academic economists of the efficient market hypothesis The traditional view, stressing the ability of speculative markets to keep asset prices in line with economic fundamentals, has been challenged by an approach more sympathetic to the role of self-fulfilling expectations, psychology, herd behavior and other seemingly irrational influences on asset prices The paper summarizes this influential and rapidly-growing body of theoretical literature on asset price formation with the focus on the concept of rational bubbles and intrinsic bubbles.
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