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Margin Requirements, Volatility, and the Transitory Component of Stock Prices
Official margin requirements in the U.S. stock market were established in October 1934 to limit the amount of credit available for the purpose of buying stocks. Since then, higher or rising margin requirements are associated with lower stock price volatility, lower excess volatility, and smaller deviations of stock prices from their fundamental values. The results hold throughout the post-1934 period and are not very sensitive to the exclusion of the turbulent depression years from the sample. Thus margin requirements seem to be an effective policy tool in curbing destabilizing speculation.
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| PSB lt.2 - Karya Akhir | 1 | |
| TAER 8004 | PSB lt.dasar - Pascasarjana | 1 |
| Penerbit | Nashville: American Economic Association 1990 |
|---|---|
| Edisi | Vol. 80, No. 4, Sep., 1990 |
| Subjek | Prices Stock prices Firm volatility Margin requirements Fundamental values |
| ISBN/ISSN | 0002-8282 |
| Klasifikasi | NONE |
| Deskripsi Fisik | 27 p. |
| Info Detail Spesifik | The American Economic Review |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas |