Dissecting the dot-com bubble in the 1990s NASDAQ
General Economics
2022-07-07 v2 Economics
Abstract
In this paper, I revisit Phillips, Wu and Yu's seminal 2011 paper on testing for the dot-com bubble. I apply recent advancements of their methods to individual Nasdaq stocks and use a novel specification for fundamentals. To address a divide in the literature, I generate a detailed sectoral breakdown of the dot-com bubble. I find that it comprised multiple overlapping episodes of exuberance and that there were indeed two starting dates for internet exuberance.
Cite
@article{arxiv.2206.14130,
title = {Dissecting the dot-com bubble in the 1990s NASDAQ},
author = {Yuchao Fan},
journal= {arXiv preprint arXiv:2206.14130},
year = {2022}
}