Narrow search
Showing 1 - 10 of 6,401
Cover Image
Post Keynesian Dynamic Stochastic General Equilibrium Theory
Farmer, Roger E. A. - 2017
disparate traditions. I make the case for unity between Post-Keynesian and General Equilibrium Theory under the banner of Post …-Keynesian Dynamic Stochastic General Equilibrium Theory …
Persistent link: https://www.econbiz.de/10012964394
Cover Image
An Extrapolative Model of House Price Dynamics
Glaeser, Edward L. - 2015
A modest approximation by homebuyers leads house prices to display three features that are present in the data but usually missing from perfectly rational models: momentum at one-year horizons, mean reversion at five-year horizons, and excess longer-term volatility relative to fundamentals....
Persistent link: https://www.econbiz.de/10013025785
Cover Image
Bubbles and Self-Enforcing Debt
Hellwig, Christian - 2010
debt is equivalent to the allocations that are sustained with unbacked public debt or rational bubbles; for the latter …
Persistent link: https://www.econbiz.de/10012760614
Cover Image
Speculative Growth : Hints from the Us Economy
Caballero, Ricardo J. - 2010
. The latter is more likely if bubbles develop along the expansionary path. These (rational) bubbles can emerge even when …
Persistent link: https://www.econbiz.de/10012762624
Cover Image
On the Possibility of Price Decreasing Bubbles
Weil, Philippe - 2010
not valid in general: as soon as bubbles affect interest rates, the fundamental value of a stock depends on whether or not …-bubble price. Under conditions made precise below, there can therefore be price decreasing bubbles, and an asset can be quot;undervalued.quot …
Persistent link: https://www.econbiz.de/10012763028
Cover Image
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
Cover Image
Exchange Rate Forecasting Techniques, Survey Data, and Implications for the Foreign Exchange Market
Frankel, Jeffrey A. - 2010
The paper presents new empirical results that elucidate the dynamics of the foreign exchange market. The first half of the paper is an updated study of the exchange rate expectations held by market participants, as reflected in responses to surveys, and contains the following conclusions. First,...
Persistent link: https://www.econbiz.de/10012763525
Cover Image
Measuring Bubble Expectations and Investor Confidence
Shiller, Robert J. - 2010
This paper presents evidence on attitude changes among investors in the US stock market. Two basic attitudes are explored: bubble expectations and investor confidence. Semiannual time-series indicators of these attitudes are presented for US stock market institutional investors based on...
Persistent link: https://www.econbiz.de/10012763808
Cover Image
Intrinsic Bubbles : the Case of Stock Prices
Froot, Kenneth - 2009
type of rational bubble that depends exclusively on dividends. We call such bubbles quot;intrinsicquot; bubbles because … most popular examples of rational bubbles, intrinsic bubbles provide an empirically plausible account of deviations from …
Persistent link: https://www.econbiz.de/10012767840
Cover Image
The International Transmission of Credit Bubbles : Theory and Policy
Ventura, Jaume - 2015
propagated abroad. In previous work, we built on the theory of rational bubbles to develop a framework to think about the origins … environment is conducive to countries experiencing credit bubbles that have large macroeconomic effects at home and are quickly … and domestic effects of these credit bubbles. This paper extends that framework to two-country setting and studies the …
Persistent link: https://www.econbiz.de/10013028542