Možnosti identifikace bublin cen aktiv v české ekonomice

Methods of Identification Asset Price Bubbles In the Czech Economy

Lubos Komarek () and Ivana Kubicová

Politická ekonomie, 2011, vol. 2011, issue 2, 164-183

Abstract: The article discusses the approaches and options for identification of disequilibrium asset prices movements. It focuses mainly on theoretical and empirical methods for identifying the so-called "bubbles" in asset prices. Subsequently, the dissimilarity among foreign exchange, stock and real estate markets in the Czech Republic is discussed, and application of selected methods (ratios, statistical and econometric methods) for identification of bubbles on these markets is shown. Its main advantage is that we analyze the problem not only from the perspective of one market, but on the main segments of financial sector. Paper concludes that the misalignment of asset prices during current financial crisis was not significantly different from their values from the second part of nineties.

Keywords: asset prices; misalignment; asset bubbles; equilibrium value (search for similar items in EconPapers)
JEL-codes: D5 G12 G14 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (1)

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DOI: 10.18267/j.polek.779

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