Asset Bubbles: Detecting and Measuring Them Are Not Easy Tasks

Silvio Contessi and Usa Kerdnunvong

The Regional Economist, 2015, issue July

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 (search for similar items in EconPapers)
Date: 2015
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