Testing for Speculative Bubbles in Stock Prices

Demirgüç-Kunt, Asli; Dezhbakhsh, Hashem

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Working Paper

Testing for Speculative Bubbles in Stock Prices

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A modification of Kenneth West’s method for investigating speculative bubbles in stock prices, in which a direct test of the "no bubble" hypothesis is applied to long-term annual U.S. stock-market data.

08.01.1988WP 88-07

Suggested Citation

Demirgüç-Kunt, Asli, and Hashem Dezhbakhsh. 1988. “Testing for Speculative Bubbles in Stock Prices.” Federal Reserve Bank of Cleveland, Working Paper No. 88-07.

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Testing for Speculative Bubbles in Stock Prices

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