<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>This study applies the generalized sub ADF (GSADF) tests to investigate whether bubbles exist in the United States markets over the period of 2015-2019, focusing on the COVID-19 period. We use daily Dow-Jones stock price indexes for the first time during the time period of 2015/1/7-2020/3/17. Empirical results demonstrate the existence of bubbles in the US stock market during some sub-sample time periods. Especially important, we find the third bubble begins from 2020/2/26 and grows gradually, not bursting until recently, a situation that is ongoing in the US market. Our results have important policy implications for investors who attempt to invest in the US stock market</p>
</abstract>

This study applies the generalized sub ADF (GSADF) tests to investigate whether bubbles exist in the United States markets over the period of 2015-2019, focusing on the COVID-19 period. We use daily Dow-Jones stock price indexes for the first time during the time period of 2015/1/7-2020/3/17. Empirical results demonstrate the existence of bubbles in the US stock market during some sub-sample time periods. Especially important, we find the third bubble begins from 2020/2/26 and grows gradually, not bursting until recently, a situation that is ongoing in the US market. Our results have important policy implications for investors who attempt to invest in the US stock market

Bubbles During Covid-19 Period: Evidence from the United States Using the Generalized Sub ADF Test

HOLISTICA – Journal of Business and Public Administration

This work is licensed under the Creative Commons Attribution 4.0 International License.

This study applies the generalized sub ADF (GSADF) tests to investigate whether bubbles exist in the United States markets over the period of 2015-2019,...

Bubbles During Covid-19 Period: Evidence from the United States Using the Generalized Sub ADF Test

Pubblicato online: 27 apr 2021

Pagine: 49 - 56

Ricevuto: 01 gen 2021

Accettato: 01 feb 2021

DOI: https://doi.org/10.2478/hjbpa-2021-0005

Parole chiave
Dow-Jones Market Index, SAFDF, GSADF Test, Bubble

© 2021 Tsangyao Chang et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Bubbles During Covid-19 Period: Evidence from the United States Using the Generalized Sub ADF Test

Pubblicato online: 27 apr 2021

Pagine: 49 - 56

Ricevuto: 01 gen 2021

Accettato: 01 feb 2021

DOI: https://doi.org/10.2478/hjbpa-2021-0005

Parole chiaveDow-Jones Market Index, SAFDF, GSADF Test, Bubble

© 2021 Tsangyao Chang et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Parole chiave
Dow-Jones Market Index, SAFDF, GSADF Test, Bubble