Extreme Financial Cycles
Résumé
This paper proposes a new approach to date extreme financial cycles. Elaborating on recent methods in extreme value theory, it elaborates an extension of the famous calculus rule to detect extreme peaks and troughs. Applied on United-States stock market since 1871, it leads to a dating of these exceptional events and calls for adequate economic policies in order to tackle them.
Domaines
Economies et financesOrigine | Fichiers produits par l'(les) auteur(s) |
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