The impact of interest rate policy on individual expectations and asset bubbles in experimental markets
We run a learning-to-forecast experiment with an interest rate policy in which the interest rate will increase/lower sharply when the deviation of asset prices from the fundamental value moves above/below a threshold. Our results show that the average price deviation (“bubble”) is significantly lowe...
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Main Authors: | , |
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Format: | Article |
Language: | English |
Published: |
2020
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Subjects: | |
Online Access: | https://hdl.handle.net/10356/142772 |
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Institution: | Nanyang Technological University |
Language: | English |