We assess econometrically the impact of asset shortages on economic growth, asset bubbles, the probability of a crisis … asset price bubbles. Moreover, asset shortages can also explain the current account positions of EMs. The findings suggest …

Why do asset price bubbles continue to appear in various markets? This paper provides an overview of recent literature … on bubbles, with significant attention given to behavioral models and rational models with frictions. Unlike the standard … insights for how bubbles are initiated and sustained, the reasons they burst, and why arbitrage forces do not routinely step in …

are too low. In this environment, changes in investor sentiment or market expectations can give rise to credit bubbles …

bubbles continue to threaten economic stability despite financial markets becoming more informationally-efficient, more …

speculative bubbles …