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Theoretical notes on bubbles and the current crisis
Martin, Alberto; Ventura, Jaume - 2011
We explore a view of the crisis as a shock to investor sentiment that led to the collapse of a bubble or pyramid scheme in financial markets. We embed this view in a standard model of the financial accelerator and explore its empirical and policy implications. In particular, we show how the...
Persistent link: https://www.econbiz.de/10011605394
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Theoretical notes on bubbles and the current crisis
Martin, Alberto; Ventura, Jaume - 2011
fiscal policy. - Bubbles ; financial accelerator ; credit constraints ; financial crisis ; pyramid schemes …
Persistent link: https://www.econbiz.de/10009160016
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Theoretical Notes on Bubbles and the Current Crisis
Martin, Alberto - 2011
We explore a view of the crisis as a shock to investor sentiment that led to the collapse of a bubble or pyramid scheme in financial markets. We embed this view in a standard model of the financial accelerator and explore its empirical and policy implications. In particular, we show how the...
Persistent link: https://www.econbiz.de/10013124891
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Theoretical Notes on Bubbles and the Current Crisis
Martin, Alberto; Ventura, Jaume - Barcelona Graduate School of Economics (Barcelona GSE) - 2010
We explore a view of the crisis as a shock to investor sentiment that led to the collapse of a bubble or pyramid scheme in financial markets. We embed this view in a standard model of the financial accelerator and explore its empirical and policy implications. In particular, we show how the...
Persistent link: https://www.econbiz.de/10010851442
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Theoretical notes on bubbles and the current crisis
Martin, Alberto; Ventura, Jaume - Department of Economics and Business, Universitat … - 2010
We explore a view of the crisis as a shock to investor sentiment that led to the collapse of a bubble or pyramid scheme in financial markets. We embed this view in a standard model of the financial accelerator and explore its empirical and policy implications. In particular, we show how the...
Persistent link: https://www.econbiz.de/10008587798
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Theoretical Notes on Bubbles and the Current Crisis
Martin, Alberto; Ventura, Jaume - C.E.P.R. Discussion Papers - 2010
We explore a view of the crisis as a shock to investor sentiment that led to the collapse of a bubble or pyramid scheme in financial markets. We embed this view in a standard model of the financial accelerator and explore its empirical and policy implications. In particular, we show how the...
Persistent link: https://www.econbiz.de/10008684673
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Monetary Policy for a Bubbly World
Asriyan, Vladimir - 2019
backed only by the expectation of their future value. We consider two types of unbacked assets: bubbles, which are created by … the private sector, and money, which is created by the central bank. Bubbles and money share many features, but they also … differ in two crucial respects. First, while the rents from the creation of bubbles accrue to entrepreneurs and foster …
Persistent link: https://www.econbiz.de/10012902889
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The Financial Transmission of Housing Bubbles : Evidence from Spain
Martin, Alberto - 2019
How do housing bubbles affect other economic sectors? We show that in the presence of collateral constraints, a bubble …
Persistent link: https://www.econbiz.de/10012891798
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The financial transmission of housing bubbles : evidence from Spain
Martin, Alberto; Moral-Benito, Enrique; Schmitz, Tom - 2019
How do housing bubbles affect other economic sectors? We show that in the presence of collateral constraints, a bubble …
Persistent link: https://www.econbiz.de/10011975621
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The Financial Transmission of Housing Bubbles : Evidence from Spain
Martin, Alberto - 2018
What are the effects of a housing bubble on the rest of the economy? We show that if firms and banks face collateral constraints, a housing bubble initially raises credit demand by housing firms while leaving credit supply unaffected. It therefore crowds out credit to non-housing firms. If time...
Persistent link: https://www.econbiz.de/10012914512