Bubble detection in Brazil’s stock market: application of the generalized superior augmented Dickey-Fuller test
Autor(a) principal: | |
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Data de Publicação: | 2016 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Institucional do FGV (FGV Repositório Digital) |
Texto Completo: | http://hdl.handle.net/10438/16704 |
Resumo: | Considering the importance of the proper detection of bubbles in financial markets for policymakers and market agents, we used two techniques described in Diba and Grossman (1988b) and in Phillips, Shi, and Yu (2015) to detect periods of exuberance in the recent history of the Brazillian stock market. First, a simple cointegration test is applied. Secondly, we conducted several augmented, right-tailed Dickey-Fuller tests on rolling windows of data to determine the point in which there’s a structural break and the series loses its stationarity. |
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Ferreira, Marcos SouzaEscolas::EESPMarçal, Emerson FernandesLyrio, MarcoMergulhão, João de Mendonça2016-07-28T17:28:22Z2016-07-28T17:28:22Z2016-06-28FERREIRA, Marcos Souza. Bubble detection in Brazil’s stock market: application of the generalized superior augmented Dickey-Fuller test. Dissertação (Mestrado Profissional em Finanças e Economia) - FGV - Fundação Getúlio Vargas, São Paulo, 2016.http://hdl.handle.net/10438/16704Considering the importance of the proper detection of bubbles in financial markets for policymakers and market agents, we used two techniques described in Diba and Grossman (1988b) and in Phillips, Shi, and Yu (2015) to detect periods of exuberance in the recent history of the Brazillian stock market. First, a simple cointegration test is applied. Secondly, we conducted several augmented, right-tailed Dickey-Fuller tests on rolling windows of data to determine the point in which there’s a structural break and the series loses its stationarity.engBubblesBubble detectionADF testStationarityIntegrationCointegrationEconomiaCointegraçãoMercado financeiroMercado de ações - PrevisãoBolsa de Valores de São PauloBubble detection in Brazil’s stock market: application of the generalized superior augmented Dickey-Fuller testinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessORIGINALFERREIRA M - BUBBLE DETECTION IN BRAZILS STOCK MARKET_2.pdfFERREIRA M - BUBBLE DETECTION IN BRAZILS STOCK MARKET_2.pdfDissertação de 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|
dc.title.eng.fl_str_mv |
Bubble detection in Brazil’s stock market: application of the generalized superior augmented Dickey-Fuller test |
title |
Bubble detection in Brazil’s stock market: application of the generalized superior augmented Dickey-Fuller test |
spellingShingle |
Bubble detection in Brazil’s stock market: application of the generalized superior augmented Dickey-Fuller test Ferreira, Marcos Souza Bubbles Bubble detection ADF test Stationarity Integration Cointegration Economia Cointegração Mercado financeiro Mercado de ações - Previsão Bolsa de Valores de São Paulo |
title_short |
Bubble detection in Brazil’s stock market: application of the generalized superior augmented Dickey-Fuller test |
title_full |
Bubble detection in Brazil’s stock market: application of the generalized superior augmented Dickey-Fuller test |
title_fullStr |
Bubble detection in Brazil’s stock market: application of the generalized superior augmented Dickey-Fuller test |
title_full_unstemmed |
Bubble detection in Brazil’s stock market: application of the generalized superior augmented Dickey-Fuller test |
title_sort |
Bubble detection in Brazil’s stock market: application of the generalized superior augmented Dickey-Fuller test |
author |
Ferreira, Marcos Souza |
author_facet |
Ferreira, Marcos Souza |
author_role |
author |
dc.contributor.unidadefgv.por.fl_str_mv |
Escolas::EESP |
dc.contributor.member.none.fl_str_mv |
Marçal, Emerson Fernandes Lyrio, Marco |
dc.contributor.author.fl_str_mv |
Ferreira, Marcos Souza |
dc.contributor.advisor1.fl_str_mv |
Mergulhão, João de Mendonça |
contributor_str_mv |
Mergulhão, João de Mendonça |
dc.subject.eng.fl_str_mv |
Bubbles Bubble detection ADF test Stationarity Integration Cointegration |
topic |
Bubbles Bubble detection ADF test Stationarity Integration Cointegration Economia Cointegração Mercado financeiro Mercado de ações - Previsão Bolsa de Valores de São Paulo |
dc.subject.area.por.fl_str_mv |
Economia |
dc.subject.bibliodata.por.fl_str_mv |
Cointegração Mercado financeiro Mercado de ações - Previsão Bolsa de Valores de São Paulo |
description |
Considering the importance of the proper detection of bubbles in financial markets for policymakers and market agents, we used two techniques described in Diba and Grossman (1988b) and in Phillips, Shi, and Yu (2015) to detect periods of exuberance in the recent history of the Brazillian stock market. First, a simple cointegration test is applied. Secondly, we conducted several augmented, right-tailed Dickey-Fuller tests on rolling windows of data to determine the point in which there’s a structural break and the series loses its stationarity. |
publishDate |
2016 |
dc.date.accessioned.fl_str_mv |
2016-07-28T17:28:22Z |
dc.date.available.fl_str_mv |
2016-07-28T17:28:22Z |
dc.date.issued.fl_str_mv |
2016-06-28 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.citation.fl_str_mv |
FERREIRA, Marcos Souza. Bubble detection in Brazil’s stock market: application of the generalized superior augmented Dickey-Fuller test. Dissertação (Mestrado Profissional em Finanças e Economia) - FGV - Fundação Getúlio Vargas, São Paulo, 2016. |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10438/16704 |
identifier_str_mv |
FERREIRA, Marcos Souza. Bubble detection in Brazil’s stock market: application of the generalized superior augmented Dickey-Fuller test. Dissertação (Mestrado Profissional em Finanças e Economia) - FGV - Fundação Getúlio Vargas, São Paulo, 2016. |
url |
http://hdl.handle.net/10438/16704 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
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