THE BOY WHO CRIED BUBBLE: PUBLIC WARNINGS AGAINST RIDING BUBBLES.
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 p...
| Publicado en: | Economic Inquiry Vol. 52; no. 3; pp. 1137 - 1153 |
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| Autores principales: | , |
| Formato: | Artículo |
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Wiley-Blackwell
Jul2014
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=95908267&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 95908267 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00952583 EIQ jtl: Economic Inquiry issn: 00952583 maglogo: Y pubinfo: dt: Jul2014 vid: 52 iid: 3 pid: 480 pub: Wiley-Blackwell artinfo: ui: 95908267 10.1111/ecin.12084 ppf: 1137 ppct: 16 formats: fmt: – @attributes: type: T – @attributes: type: P size: 640KB tig: atl: THE BOY WHO CRIED BUBBLE: PUBLIC WARNINGS AGAINST RIDING BUBBLES. aug: au: ASAKO, YASUSHI UEDA, KOZO affil: Assistant Professor, School of Political Science and Economics, Waseda University, Tokyo 169 ‐ 8050, Japan Phone 81 ‐ 3 ‐ 3203 ‐ 9065, Fax 81 ‐ 3 ‐ 3204 ‐ 8957 Associate Professor, School of Political Science and Economics, Waseda University, Tokyo 169 ‐ 8050, Japan Phone 81-3-3208-0423, Fax 81-3-3204-8957 su: Stock market bubbles Information asymmetry Economic forecasting Economic models Economic bubbles Decision making in economic policy Warnings Investment policy sug: subj: Stock market bubbles Information asymmetry Economic forecasting Economic models Economic bubbles Decision making in economic policy Warnings Investment policy ab: 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.( JEL D82, E58, G18) pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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