cyclical job loss and unemployment fell disproportionately on young and unskilled workers. The paper identifies, by age, gender …

's q ratio displays regular cycles of bubbles and crashes reflecting an agency problem between investors and producers. The … ; financial bubbles ; stock markets ; booms and crashes ; Tobin's q ; business cycles ; economic rents …

firms in making their investment decisions.We use a revealed preference approach that relies on the pattern of investment … spending – combined with investment theory – to estimate the discount rates used by managers. The standard story predicts that … firms with high stock prices and good investment opportunities should have discount rates that do not differ systematically …

's q ratio displays regular cycles of bubbles and crashes reflecting an agency problem between investors and producers. The …

investment. For each vector of initial capital/labor ratios, there is one and only one trajectory on which expectations are …

We present an estimated dynamic stochastic general equilibrium model of stock market bubbles and business cycles using … Bayesian methods. Bubbles emerge through a positive feedback loop mechanism supported by self-fulfilling beliefs. We identify a … sentiment shock that drives the movements of bubbles and is transmitted to the real economy through endogenous credit …

We assess econometrically the impact of asset shortages on economic growth, asset bubbles, the probability of a crisis … asset price bubbles. Moreover, asset shortages can also explain the current account positions of EMs. The findings suggest …

with bubbles. Finally, productivity can be larger when the bubble further increases the investment of more productive … facts using a growth model with financial bubbles in which individuals face heterogeneous wages and returns on productive … investment. The heterogeneity in the return of investment separates individuals between savers and entrepreneurs. Savers buy …