Similar Search Results

Asset Pricing in the Quest for the New El Dorado

Andrei, Daniel - 2017

be used to predict bubbles ex ante …

Persistent link: https://www.econbiz.de/10012955440

Monetary Policy and Bubbles in a New Keynesian Model with Overlapping Generations

Galí, Jordi - 2021

rational expectations equilibria with asset price bubbles. I study the conditions under which bubble-driven fluctuations may …

Persistent link: https://www.econbiz.de/10013314313

A Theory of Income Smoothing When Insiders Know More than Outsiders

Acharya, Viral V. - 2011

We consider a setting in which insiders have information about income that outside shareholders do not, but property rights ensure that outside shareholders can enforce a fair payout. To avoid intervention, insiders report income consistent with outsiders' expectations based on publicly...

Persistent link: https://www.econbiz.de/10013117203

Monetary Policy and Rational Asset Price Bubbles

Galí, Jordi - 2013

I examine the impact of alternative monetary policy rules on a rational asset price bubble, through the lens of an overlapping generations model with nominal rigidities. A systematic increase in interest rates in response to a growing bubble is shown to enhance the fluctuations in the latter,...

Persistent link: https://www.econbiz.de/10013086674

Rational Finite Bubbles

Allen, Franklin - 2010

There has been a long-running debate about whether stock market prices are determined by fundamentals. To date no consensus has been reached. An important issue in this debate concerns the circumstances in which deviations from fundamentals are consistent with rational behavior. A...

Persistent link: https://www.econbiz.de/10012763474

The Macroeconomics of Rational Bubbles : A User's Guide

Martin, Alberto - 2018

This paper provides a guide to macroeconomic applications of the theory of rational bubbles. It shows that rational … bubbles can be easily incorporated into standard macroeconomic models, and illustrates how they can be used to account for … important macroeconomic phenomena. It also discusses the welfare implications of rational bubbles and the role of policy in …

Persistent link: https://www.econbiz.de/10012929549

Macro, Money and Finance : A Continuous Time Approach

Brunnermeier, Markus K. - 2016

This paper puts forward a teaching manual for how to set up and solve a continuous time model that allows one to analyze endogenous (1) level and risk dynamics. The latter includes (2) tail risk and crisis probability as well as (3) the Volatility Paradox. Concepts such as (4) illiquidity and...

Persistent link: https://www.econbiz.de/10012989115

Intermediary Asset Pricing and the Financial Crisis

He, Zhiguo - 2018

"Intermediary asset pricing'' understands asset prices and risk premia through the lens of frictions in financial intermediation. Perhaps motivated by phenomena in the financial crisis, intermediary asset pricing has been one of the fastest growing areas of research in finance. This article...

Persistent link: https://www.econbiz.de/10012924463

Monetary Policy and Asset Prices : A Look Back at Past U.S. Stock Market Booms

Bordo, Michael D. - 2011

This paper examines the economic environments in which past U.S. stock market booms occurred as a first step toward understanding how asset price booms come about and whether monetary policy should be used to defuse booms. We identify several episodes of sustained rapid rise in equity prices in...

Persistent link: https://www.econbiz.de/10013127756

Pride Goes Before a Fall : Federal Reserve Policy and Asset Markets

Reinhart, Carmen M. - 2011

Considerable debate rages about whether Federal Reserve policy was too lax in the early part of the 2000s, thereby fueling the home-price bubble that was the proximate cause of the global financial crisis. We present evidence that the view that modest alterations to monetary policy have vast...

Persistent link: https://www.econbiz.de/10013129137

1
2
3
4
5
6
7
8
9
10
Next
Last