The authors thank the co-editor, three anonymous referees, Yacine Aït-Sahalia, Geert Bekaert, Prasad Bidarkota, Markus Brunnermeier, Robert Flood, George Furstenberg, Peter Garber, Hans Genberg, Adrian Pagan, Lubos Pastor, Michael Robert, Dragon Tang, Pietro Veronesi, Matthew Yiu, and conference/seminar participants at Econometric Society Winter Meetings, Financial Management Association Meeting, the Fundamental and Nonfundamental Asset Pricing Dynamics Conference in Norway, Hong Kong Institute for Monetary Research (HKIMR), Financial Engineering and Risk Management 2007 Meeting, International Symposium for Econometric Theory and Application 2009 Meeting, National University of Singapore, Central University of Finance and Economics (CUFE), Rutgers, and University of Toronto for comments. All errors remain our responsibility. Phillips gratefully acknowledges partial support from a Kelly Fellowship and the NSF under Grant Nos. SES 04-142254 and SES 06- 47086. Yu gratefully acknowledges financial support from the Singapore Ministry of Education AcRF Tier 2 fund under Grant No. T206B4301-RS. Part of this work was completed while Wu visited HKIMR and CUFE. He thanks these institutions for their warm hospitalities. He thanks a faculty research grant from Rutgers Business School and the Whitcomb Financial Services Center for partial financial support. Please address correspondence to: Jun Yu, School of Economics and Sim Kee Boon Institute for Financial Economics, Singapore Management University, Singapore 178903, Singapore. E-mail: firstname.lastname@example.org.
EXPLOSIVE BEHAVIOR IN THE 1990s NASDAQ: WHEN DID EXUBERANCE ESCALATE ASSET VALUES?*
Article first published online: 24 FEB 2011
© (2011) by the Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association
International Economic Review
Volume 52, Issue 1, pages 201–226, February 2011
How to Cite
Phillips, . P. C. B., Wu, Y. and Yu, J. (2011), EXPLOSIVE BEHAVIOR IN THE 1990s NASDAQ: WHEN DID EXUBERANCE ESCALATE ASSET VALUES?. International Economic Review, 52: 201–226. doi: 10.1111/j.1468-2354.2010.00625.x
Manuscript received July 2008; revised August 2009.
- Issue published online: 24 FEB 2011
- Article first published online: 24 FEB 2011
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