as bull and bear market dynamics and excess volatility. …

as bull and bear market dynamics and excess volatility. -- Heterogeneous interacting agents ; Bull and bear market …

demand, triggering lasting volatility outbursts. Eventually, however, higher stock market risk reduces stock market … participation and volatility decreases again. Simulations furthermore reveal that our approach is also able to produce bubbles and … crashes, excess volatility, fat-tailed return distributions and serially uncorrelated price changes. …

speculation to stock price volatility. Furthermore, we show that there is an inverse causal relationship ranging from stock prices …This study investigates the possible Granger-causal relations between stock price volatility and dividend dynamics on … the one hand, and speculation and unemployment on the other. The analysis is carried out for the US over the period 1982 …