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The Macroeconomics of Rational Bubbles: A User's Guide

Alberto Martin and Jaume Ventura ()
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Jaume Ventura: Centre de Recerca en Economia Internacional, 08005 Barcelona, Spain

Annual Review of Economics, 2018, vol. 10, issue 1, 505-539

Abstract: This review provides a guide to macroeconomic applications of the theory of rational bubbles. It shows that rational bubbles can be easily incorporated into standard macroeconomic models and illustrates how they can be used to account for important macroeconomic phenomena. It also discusses the welfare implications of rational bubbles and the role of policy in managing them. Finally, it provides a detailed review of the literature.

Keywords: bubbles; business cycles; credit; economic growth; financial frictions; pyramid schemes (search for similar items in EconPapers)
JEL-codes: E32 E44 O40 (search for similar items in EconPapers)
Date: 2018
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Working Paper: The Macroeconomics of Rational Bubbles: A User's Guide (2018) Downloads
Working Paper: The Macroeconomics of Rational Bubbles: A User's Guide (2018) Downloads
Working Paper: The macroeconomics of rational bubbles: a user's guide (2018) Downloads
Working Paper: The Macroeconomics of Rational Bubbles: A User's Guide (2017) Downloads
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