Rational speculative bubbles in the US stock market and political cycles

•Rational speculative bubbles are examined under Democratic and Republican regimes.•Time dependence test shows rational bubbles exist under Republican Presidents.•We do not observe the existence of rational bubbles under Democratic Presidents. This paper tests the existence of rational speculative b...

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Veröffentlicht in:	Finance research letters 2015-05, Vol.13, p.1-9
Hauptverfasser:	Wang, Miao, Wong, M. C. Sunny
Format:	Artikel
Sprache:	eng
Schlagworte:	Abnormal returns Duration dependence Political behavior Presidential terms Rates of return Rational speculative bubbles Securities markets Studies
Online-Zugang:	Volltext
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