Discussion Paper
Measuring Bubble Expectations and Investor Confidence
This paper presents evidence on attitude changes among investors in the US stock market. Two basic attitudes are explored: bubble expectations and investor confidence. Semiannual time-series indicators of these attitudes are presented for US stock market institutional investors based on questionnaire survey results 1989–1998, from surveys that I have derived in collaboration with Fumiko Kon-Ya and Yoshiro Tsutsui.