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are too low. In this environment, changes in investor sentiment or market expectations can give rise to credit bubbles …
Persistent link: https://www.econbiz.de/10013050667
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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"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/10008664506
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fiscal policy. - Bubbles ; financial accelerator ; credit constraints ; financial crisis ; pyramid schemes …
Persistent link: https://www.econbiz.de/10009160016
Persistent link: https://www.econbiz.de/10008988350
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/10012462257