New issue of Econ Journal Watch

marginalrevolution.com/marginalrevolution/2025/04/new-issue-of-econ-journal-watch-14.html

Toward Bubble Clarity: An American Economic Review article by Jianjun Miao and Pengfei Wang purports to “provide a theory of rational stock price bubbles.” Here, Tomohiro Hirano and Alexis Akira Toda argue that Miao and Wang’s ‘bubble’ talk is inapt. It is more appropriate to interpret…

This story appeared on marginalrevolution.com, 2025-04-02 04:32:03.
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