Obteniendo "Error:` output.path` debe ser una ruta absoluta o `/` "

Soy nuevo en el desarrollo de JS, en un intento de cargar en caliente los cambios usando webpack-dev-server, mantengo la excepción anterior. La pila exacta es:

Error: `output.path` needs to be an absolute path or `/`.
at Object.Shared.share.setFs (/Users/mybox/work/day1/ex6/node_modules/webpack-dev-middleware/lib/Shared.js:88:11)
at Shared (/Users/mybox/work/day1/ex6/node_modules/webpack-dev-middleware/lib/Shared.js:214:8)
at module.exports (/Users/mybox/work/day1/ex6/node_modules/webpack-dev-middleware/middleware.js:22:15)
at new Server (/Users/mybox/work/day1/ex6/node_modules/webpack-dev-server/lib/Server.js:56:20)

at startDevServer (/Users/mybox/work/day1/ex6/node_modules/webpack-dev-server/bin/webpack-dev-server.js:379:12)
at processOptions (/Users/mybox/work/day1/ex6/node_modules/webpack-dev-server/bin/webpack-dev-server.js:317:3)
at Object.<anonymous> (/Users/mybox/work/day1/ex6/node_modules/webpack-dev-server/bin/webpack-dev-server.js:441:1)
at Module._compile (module.js:409:26)
at Object.Module._extensions..js (module.js:416:10)
at Module.load (module.js:343:32)

Aquí están los archivos de configuración del paquete web que ya he probado:

module.exports = {
    entry: "./client/app.jsx",
    output: {
        path: "dist/js",
        filename: "bundle.js",
        publicPath: "http://127.0.0.1:2992/js"
    },
    module: {
        loaders: [
            {
                test: /.jsx?$/,
                loader: "babel-loader",
                include: /client/
            }
        ]
    }
};

Y:

module.exports = {
    entry: "./client/app.jsx",
    output: {
        path: "/Users/mybox/work/day1/ex6/dist/js",
        filename: "bundle.js",
        publicPath: "http://127.0.0.1:2992/js"
    },
    module: {
        loaders: [
            {
                test: /.jsx?$/,
                loader: "babel-loader",
                include: /client/,
                query: {
                    presets:['react']
                }
            }
        ]
    }
};

A continuación se muestra mi archivo package.json

{
 "name": "ex6",
 "version": "1.0.0",
 "main": "index.js",
 "scripts": {
   "server": "node index.js",
   "hot": "webpack-dev-server --inline --hot --port 2992 --progress --colors",
   "dev": "webpack-dev-server --inline --dev --port 2992 --progress --colors"
 },
"keywords": [],
"author": "",
"license": "ISC",
"dependencies": {
  "babel-preset-es2015": "^6.22.0",
  "hapi": "^16.1.0",
  "inert": "^4.1.0"
},
"devDependencies": {
"babel": "^6.5.2",
"babel-cli": "^6.22.2",
"babel-core": "^6.22.1",
"babel-loader": "^6.2.10",
"babel-preset-react": "^6.22.0",
"builder": "^3.2.1",
"webpack": "^2.2.1",
"webpack-dev-server": "^2.3.0"
},
"description": ""
}

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