Series: IMF Working Papers
Author(s): Anna Scherbina
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 21 February 2013
Keywords: Bubbles, Limits to Arbitrage, stock market, discount rate, mortgage, cash flows, financial economics, General,
Why do asset price bubbles continue to appear in various markets? This paper provides an overview of recent literature on bubbles, with significant attention given to behavioral models and rational models with fric...