The Macroeconomics of Rational Bubbles: A User's Guide
Alberto Martin and
No 12641, CEPR Discussion Papers from C.E.P.R. Discussion Papers
This paper 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)
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Journal Article: The Macroeconomics of Rational Bubbles: A User's Guide (2018)
Working Paper: The Macroeconomics of Rational Bubbles: A User's Guide (2018)
Working Paper: The Macroeconomics of Rational Bubbles: A User's Guide (2017)
Working Paper: The macroeconomics of rational bubbles: a user's guide (2017)
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