T his paper investigates the existence of possible spillover effects among four main asset markets namely foreign exchange, stock, gold, and housing markets in Iran from 2002:03 to 2015:06. For this purpose, we have exploited Sigma-Point Kalman Filter (SPKF) to extract the bubble component of assets prices in the aforementioned Markets. Then, in order to analyze the price bubbles spi...

How to think of the Whole? Our theoretical findings on that matter emanate from critical response D. F. Verene’s account idea Whole, which is speculative and necessary for true philosophy. As this study shows, in its essence depends upon two main criteria, ontological epistemological. Both criteria perfectly demonstrate logic supplementation, undermines original conception. We argue Whole has b...

Heterogeneity of beliefs has been suggested as a major contributing factor to the recent …nancial crisis. This paper theoretically evaluates this hypothesis. Similar to Geanakoplos (2009), I assume that optimists have limited wealth and take on leverage in order to take positions in line with their beliefs. To have a signi…cant e¤ect on asset prices, they need to borrow from traders with modera...

Heterogeneity of beliefs has been suggested as a major contributing factor to the recent …nancial crisis. This paper theoretically evaluates this hypothesis. Similar to Geanakoplos (2009), I assume that optimists have limited wealth and take on leverage in order to take positions in line with their beliefs. To have a signi…cant e¤ect on asset prices, they need to borrow from traders with modera...