future house prices which, in turn, led to a collapse in lending standards. A common feature of all bubbles which complicates … economic fallout from the recent financial crisis, central bank views on the use of monetary policy to lean against bubbles …

". We observe both stable markets and large bubbles for both small and large markets. The data analysis shows no differences … successfully drives prices back towards the fundamental, but we observe very large bubbles in which the news apparently has no …

This paper analyzes the boom–bust cycle driven by rational bubbles in an overlapping generations economy that is … rate. Bubbles are more likely to crowd investment in, the stronger is the intertemporal substitution in consumption, and … of dynamic efficiency and the occurrence of bubbles. We characterize the global dynamics of a stochastically bubbly …