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Sakuragawa, Masaya - 2013

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 …

Persistent link: https://www.econbiz.de/10013079238

Speculation-driven business cycles

Bigio, Saki; Zilberman, Eduardo - 2019

Speculation, in the spirit of Harrison and Kreps [1978], is introduced into a standard real business cycle model. Investors (speculators) hold heterogeneous beliefs about firm growth. Firm ownership, and thus, the firm's discount factor varies with waves of optimism and leverage. These waves...

Persistent link: https://www.econbiz.de/10012145301

Household debt and housing bubble : a Minskian approach to boom-bust cycles

Ryoo, Soon - 2015

This paper examines macroeconomic dynamics of household debt and housing prices. Drawing on Minsky's insights into financial instability and cycles, our framework combines household debt dynamics with behavioral asset price dynamics in a Keynesian macro model. We show that endogenous boom-bust...

Persistent link: https://www.econbiz.de/10011522147

Financial Cycles, Credit Bubbles and Stabilization Policies

Corrado, Luisa - 2019

This paper analyzes the effects of several policy instruments to mitigate financial bubbles generated in the banking … policy instruments in counteracting financial bubbles. We find that an endogenous capital requirement reduces the impact of a …

Persistent link: https://www.econbiz.de/10012892165

Financial Cycles, Credit Bubbles and Stabilization Policies

Schuler, Tobias - 2019

This paper analyzes the effects of several policy instruments for mitigating financial bubbles generated in the banking … evaluate the efficacy of several policy instruments in counteracting financial bubbles. We find that an endogenous capital …

Persistent link: https://www.econbiz.de/10012858317

Financial cycles, credit bubbles and stabilization policies

Corrado, Luisa; Schuler, Tobias - 2018

Persistent link: https://www.econbiz.de/10011952012

Estimation of aggregate and segment-specific financial cycles for a global sample of countries

Adarov, Amat - 2018

The paper reports estimation results and technical details on the estimation of financial cycles for a global sample of 34 advanced and developing countries over the period 1960Q1-2015Q4, as well as introduces a database of financial cycles. We estimate several versions of financial cycles for...

Persistent link: https://www.econbiz.de/10011847208

Financial cycles, credit bubbles and stabilization policies

Corrado, Luisa; Schuler, Tobias - 2019

Persistent link: https://www.econbiz.de/10012132559

Managing Credit Booms and Busts : A Pigouvian Taxation Approach

Jeanne, Olivier; Korinek, Anton - 2022

We study a dynamic model in which the interaction between debt accumulation and asset prices magnifies credit booms and busts. We find that borrowers do not internalize these feedback effects and therefore suffer from excessively large booms and busts in both credit flows and asset prices. We...

Persistent link: https://www.econbiz.de/10013299943

Deflating Asset Price Bubbles with Leverage Constraints and Monetary Policy

Fenig, Guidon - 2018

We develop an experimental production economy to study the general equilibrium and welfare effects of speculation and stabilization policies. Participants playing the role of household-investors interact in labor, output, and, in some treatments, asset markets. Without the ability to trade...

Persistent link: https://www.econbiz.de/10012933915

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