New JLS-Factor Model versus the Standard JLS Model: A Case Study on Chinese Stock Bubbles

Table 4

Parameters of the fits of the indices indicated in the first column are calculated by the JLS-factor model (10), where is the most probable time for the bursting of bubble (or the inception of an antibubble), is the angular log-frequency [24],   quantifies the degree of superexponential growth, is phase, gives the terminal price at the critical time , and , respectively, control for the amplitude of the power law acceleration and the log-periodic oscillations, , , , and , respectively, measure the effects of the risk-free interest rate, the deposit reserve rate, the volatility of the targeted index, and NASDAQ on the price , and denotes the root-mean-square (r.m.s.).

Bubble (antibubble)
05/07/11–08/10/17 SSEC	07/10/16	0.03	1.89	0.03	4.97	−480.94	4808.85	215.66	−32.46	−25.11	0.20	193.04
05/07/11–08/10/17 SZSC	07/11/26	1.26	0.31	3.48	14.93	−0.72	6.08	−320.05	92.46	39.43	2.73	643.26
08/11/03–09/08/31 SSEC	09/08/03	17.46	0.45	2.14	3.36	−0.21	−0.12	74.22	37.78	−83.33	−0.33	60.49
08/11/03–09/08/31 SZSC	09/08/03	17.28	0.53	4.80	13.44	−1.00	0.63	132.05	66.10	−56.60	−0.25	282.30
14/03/13–15/07/29 SSEC	15/06/08	5.50	0.39	1.09	5.88	−0.41	0.32	105.11	10.50	−115.53	−0.14	119.37
14/03/13–15/07/29 SZSC	15/06/08	5.63	0.34	3.99	13.81	−1.56	−1.03	−2.62	535.60	−392.55	−0.84	486.32
05/11/15–07/11/28 SZSC	07/10/08	0.07	1.86	0.07	20.51	−478.47	4780.60	−183.50	−296.39	118.94	1.87	523.35
07/11/29–08/10/17 SZSC	08/01/15	14.85	0.53	2.82	12.00	−1.27	1.16	861.36	−275.90	101.22	4.89	561.68