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https://ah.lib.nccu.edu.tw/handle/140.119/78990
題名: | Monetary Confidence and Asset Prices | 作者: | Huo, Teh-Ming 霍德明 |
貢獻者: | 金融系 | 日期: | 1996 | 上傳時間: | 19-Oct-2015 | 摘要: | Three issues are studied in this paper: the existence of sunspot equilibria; the excessive volatility of asset prices; and the possibility that assets may be undervalued relative to their market fundamentals. We show that (i) stationary sunspot equilibria exist in a very general environment; (ii) asset prices may fluctuate despite a constant stream of dividends; and (iii) assets may be undervalued. JEL: 021, 023, 131. | 關聯: | International Review of Economics and Finance, 5(4), 363-376 | 資料類型: | article |
Appears in Collections: | 期刊論文 |
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File | Description | Size | Format | |
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363-376.pdf | 564.14 kB | Adobe PDF2 | View/Open |
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