Bubbles and Leverage: A simple and unified approach

In this paper, we lay out a simple framework that captures much of what the theoretical literature has to say about the role of credit in systemically important asset booms and busts. In addition, we suggest ways in which to incorporate physical investment in the bubble asset as well as monetary policy.

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Year of publication:	2013
Authors:	Barsky, Robert ; Bogusz, Theodore
Publisher:	Chicago, IL : Federal Reserve Bank of Chicago
Subject:	asset pricing \| heterogeneity \| bubbles

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Series:	Working Paper ; 2013-21
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	773874364 [GVK] hdl:10419/96646 [Handle] RePEc:fip:fedhwp:wp-2013-21 [RePEc]
Classification:	E52 - Monetary Policy (Targets, Instruments, and Effects) ; G12 - Asset Pricing
Source:	EconStor

Persistent link: https://www.econbiz.de/10010352177