Is There an AI Bubble? Robust Date-Stamping for Periods of Exuberance
是否存在人工智能泡沫?亢奋期的稳健起止时间识别
The recent surge in valuations among AI related firms has renewed concerns that markets may be entering a new phase of speculative exuberance, especially in the technology and semiconductor sectors at the center of the AI investment wave. This paper develops a practical econometric framework for detecting, date-stamping, and drawing inference on the origination and collapse of bubble episodes when prices evolve under persistent, time-varying volatility. Standard bubble tests…