Overview
- Editors:
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Gerald P. Dwyer
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Clemson University and Federal Reserve Bank of St. Louis, USA
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R. W. Hafer
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Southern Illinois University at Edwardsville and Federal Reserve Bank of St. Louis, USA
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Table of contents (6 chapters)
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Front Matter
Pages i-xiii
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- Gerald P. Dwyer Jr., R. W. Hafer
Pages 1-7
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- Gerald P. Dwyer Jr., R. W. Hafer
Pages 31-79
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- Eugene Moriarty, J. Douglas Gordon, Gregory Kuserk, George Wang
Pages 141-178
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About this book
Gerald P. Dwyer, Jr. and R. W. Hafer The articles and commentaries included in this volume were presented at the Federal Reserve Bank of St. Louis' thirteenth annual economic policy conference, held on October 21-22, 1988. The conference focused on the behavior of asset market prices, a topic of increasing interest to both the popular press and to academic journals as the bull market of the 1980s continued. The events that transpired during October, 1987, both in the United States and abroad, provide an informative setting to test alter native theories. In assembling the papers presented during this conference, we asked the authors to explore the issue of asset pricing and financial market behavior from several vantages. Was the crash evidence of the bursting of a speculative bubble? Do we know enough about the work ings of asset markets to hazard an intelligent guess why they dropped so dramatically in such a brief time? Do we know enough to propose regulatory changes that will prevent any such occurrence in the future, or do we want to even if we can? We think that the articles and commentaries contained in this volume provide significant insight to inform and to answer such questions. The article by Behzad Diba surveys existing theoretical and empirical research on rational bubbles in asset prices.
Reviews
'In conclusion, the book should provide an important contribution to the libraries of those interested in crash- related research on asset pricing and financial markets.' Southern Economic Journal 59:3 1993
Editors and Affiliations
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Clemson University and Federal Reserve Bank of St. Louis, USA
Gerald P. Dwyer
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Southern Illinois University at Edwardsville and Federal Reserve Bank of St. Louis, USA
R. W. Hafer
