Market depth, leverage, and speculative bubbles
We develop a model of rational bubbles based on leverage and the assumption of an imprecisely known maximum market size. In a bubble, traders push the asset price above its fundamental value in a dynamic way, driven by rational expectations about future price developments. At a previously unknown da...
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| Hauptverfasser: | , |
|---|---|
| Dokumenttyp: | Buch/Monographie Arbeitspapier |
| Sprache: | Englisch |
| Veröffentlicht: |
Munich
CESifo, Center for Economic Studies & Ifo Institute
December 2017
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| Schriftenreihe: | CESifo working paper Category 6, Fiscal policy, macroeconomics and growth
no. 6806 |
| In: |
CESifo working papers (no. 6806)
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| Schlagworte: | |
| Online-Zugang: | Resolving-System, kostenfrei, Volltext: http://hdl.handle.net/10419/174929 Verlag, kostenfrei, Volltext: http://www.cesifo-group.de/ifoHome/publications/docbase/DocBase_Content/WP/WP-CESifo_Working_Papers/wp-cesifo-2017/wp-cesifo-2017-12/12012017006806.html Verlag, kostenfrei, Volltext: http://www.cesifo-group.de/DocDL/cesifo1_wp6806.pdf 
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| Verfasserangaben: | Zeno Enders, Hendrik Hakenes |
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