"This paper analyzes the possibility and the consequences of rational bubbles in a dy- namic economy where financially … (scarce). We analyze extensions with firm heterogeneity and sto- chastic bubbles"--National Bureau of Economic Research web …

This paper analyzes the possibility and the consequences of rational bubbles in a dy- namic economy where financially … (scarce). We analyze extensions with firm heterogeneity and sto- chastic bubbles …

This paper analyzes the possibility and the consequences of rational bubbles in a dy- namic economy where financially … (scarce). We analyze extensions with firm heterogeneity and sto- chastic bubbles …

comes in two forms: rents and asset bubbles. We make four contributions. First, we show that imperfect pledgeability severs … the link between dynamic efficiency and the level of the interest rate. Bubbles are possible even when the economy is … explore the possibility of stochastic bubbles. We show that they trade at a liquidity discount. Bubble bursts can be …

comes in two forms: rents and asset bubbles. We make four contributions. First, we show that imperfect pledgeability severs … the link between dynamic efficiency and the level of the interest rate. Bubbles are possible even when the economy is … explore the possibility of stochastic bubbles. We show that they trade at a liquidity discount. Bubble bursts can be …

comes in two forms: rents and asset bubbles. We make four contributions. First, we show that imperfect pledgeability severs … the link between dynamic efficiency and the level of the interest rate. Bubbles are possible even when the economy is … explore the possibility of stochastic bubbles. We show that they trade at a liquidity discount. Bubble bursts can be …