The Stock Market: Bubbles, Volatility, and Chaos

Proceedings of the Thirteenth Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis

  • Gerald P. DwyerJr.
  • R. W. Hafer

Table of contents

  1. Front Matter
    Pages i-xiii
  2. Gerald P. Dwyer Jr., R. W. Hafer
    Pages 1-7
  3. Behzad T. Diba
    Pages 9-29
  4. Eugene Moriarty, J. Douglas Gordon, Gregory Kuserk, George Wang
    Pages 141-178

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.


Bank calculus economic policy futures statistical analysis volatility

Editors and affiliations

  • Gerald P. DwyerJr.
    • 1
  • R. W. Hafer
    • 2
  1. 1.Clemson University and Federal Reserve Bank of St. LouisUSA
  2. 2.Southern Illinois University at Edwardsville and Federal Reserve Bank of St. LouisUSA

Bibliographic information

  • DOI
  • Copyright Information Springer Science+Business Media B.V. 1990
  • Publisher Name Springer, Dordrecht
  • eBook Packages Springer Book Archive
  • Print ISBN 978-90-481-5781-5
  • Online ISBN 978-94-015-7881-3
  • Buy this book on publisher's site
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