December 1979
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1,289 Citations
The Economic Journal
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... Bubbles are processes in which there is a sudden overvaluation of an asset or set of related assets above what is justified by their underlying values Sornette and Woodard (2009). Thus, Kindleberger et al. (1987); Kindleberger (2016) considered that the origin of bubbles is usually in exogenous shocks that alter the expectations of individuals. These shocks can be of a diverse nature, such as a technological change, the discovery of a new natural resource, the appearance of a new financial product, the beginning of a war, the massive arrival of immigrants to a region, or substantial alterations in financing conditions Galbraith (2009). ...
- Citing Article
December 1979
The Economic Journal