'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 …

median path of Tobin’s q ratio displays regular, periodic cycles of bubbles and crashes reflecting an agency problem between … ; efficient markets ; financial bubbles ; stock markets ; booms and crashes ; Tobin’s q ; business cycles ; economic rents …

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

I propose a theory of information production and learning in credit markets in which the incentives to engage in … excessive optimism that fueled booms preceding financial crises and the slow recoveries that followed. In my theory, information …

median path of Tobin's q ratio displays regular, periodic cycles of bubbles and crashes reflecting an agency problem between …

median path of Tobin's q ratio displays regular, periodic cycles of bubbles and crashes reflecting an agency problem between …

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

We develop a model of rational bubbles based on leverage and the assumption of an imprecisely known maximum market size … lend to traders with limited liability in a bubble is endogenous. Bubbles reduce welfare of future investors. We provide … general conditions for the possibility of bubbles depending on uncertainty about market size, traders' degree of leverage and …

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 …