We study the macroeconomic effects of rational asset bubbles in an overlapping-generations economy where asset trading … are large, the private gains associated with trading asset bubbles may lead too many workers to become speculators …, thereby causing rational bubbles to lose their efficiency properties. Moreover, if speculation can be carried out by skilled …

Asset market bubbles and crashes are a major source of economic instability and inefficiency. Sometimes ascribed to … efficiency, while incidental emotions can impair it. Signals in specific brain areas can be a trigger precipitating a bubble …

Bitcoin prices translate into their purchases of durable goods. Finally, exogenously-provided information about historical …

bubble, mispricing is greatly exacerbated by incentives. Even in experienced markets, prices climb to levels clearly …

We study the effect of team decision-making on bubbles and crashes in experimental asset markets of the kind introduced …

This paper delves into the recent events that led to the formation of the housing bubble in Spain and the resulting … light on the performance of the Spanish labor market and the Spanish housing bubble. Our results suggest that the …

Bubbles are recurrent events, which contribute to both macroeconomic and employment volatility. We introduce stochastic … bubbles in the standard search-and matching model of the labor market. The economy alternates between latent and bubbly states …, each being associated with a distinct solution for the market value of firms (respectively, stable or explosive). Bubbles …