Bubbles and Leverage: A Simple and Unified Approach

Theodore Bogusz and Theodore Bogusz
Authors registered in the RePEc Author Service: Robert Barsky

No WP-2013-21, Working Paper Series from Federal Reserve Bank of Chicago

Abstract: In this paper, we lay out a simple framework that captures much of what the theoretical literature has to say about the role of credit in systemically important asset booms and busts. In addition, we suggest ways in which to incorporate physical investment in the bubble asset as well as monetary policy.

Keywords: asset pricing; heterogeneity; bubbles (search for similar items in EconPapers)
JEL-codes: E52 G12 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2013-11-13
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