| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23830 |
| 来源ID | Working Paper 23830 |
| Negative Bubbles: What Happens After a Crash | |
| William N. Goetzmann; Dasol Kim | |
| 发表日期 | 2017-09-18 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We study crashes using data from 101 global stock markets from 1692 to 2015. Extremely large, annual stock market declines are typically followed by positive returns. This is not true for smaller declines. This pattern does not appear to be driven by institutional frictions, financial crises, macroeconomic shocks, political conflicts, or survivorship issues. |
| 主题 | Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Markets |
| URL | https://www.nber.org/papers/w23830 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/581503 |
| 推荐引用方式 GB/T 7714 | William N. Goetzmann,Dasol Kim. Negative Bubbles: What Happens After a Crash. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23830.pdf（317KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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