Bubbly recessions
WebBubbly Recessions by Siddhartha Biswas, Andrew Hanson and Toan Phan. Published in volume 12, issue 4, pages 33-70 of American Economic Journal: Macroeconomics, October 2024, Abstract: We develop a tractable bubbles model with financial friction and downward wage rigidity. Competitive speculation in... WebBubbly Recessions, Working Paper 18-05R. S Biswas, A Hanson, T Phan. 2024: Bubbly Recessions. SBAHT Phan. 2024 Meeting Papers, 2024. 2024: Online Appendix for Bubbly Recessions. S Biswas, A Hanson, T Phan. Secular stagnation and bubble boom-bust. T Phan, A Hanson. The system can't perform the operation now. Try again later.
Bubbly recessions
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WebAs a bubbly asset appreciates, it enhances investors' net worth, and higher net worth typically allows easier access to credit and higher credit limits. An uptick in … Web"Bubbly Recessions," 2024 Meeting Papers 440, Society for Economic Dynamics. Siddhartha Biswas & Andrew Hanson & Toan Phan, 2024. "Bubbly Recessions," 2024 Meeting Papers 116, Society for Economic Dynamics. Siddhartha Biswas & Andrew Hanson & Toan Phan, 2024. "Bubbly Recessions," Working Paper 18-5, Federal Reserve Bank …
WebThere are goods, stock asset, pure bubbly asset, and loan markets, and we consider all possible cases depending on whether each of the markets is open or closed. We show that capital inflows give rise to asset bubbles. Moreover, two types of bubbles arise simultaneously in the economy if the goods market and loan markets are open. WebOct 18, 2024 · Bubbly Recessions . Siddhartha Biswas, University of North Carolina Andrew Hanson, University of North Carolina Toan Phan, Federal Reserve Bank of Richmond. Discussant: Juan Pablo Nicolini, Federal Reserve Bank of Minneapolis . Global Effective Lower Bound and Unconventional Monetary Policy . Cynthia Wu ...
WebBubbly Recessions, Working Paper 18-05R. S Biswas, A Hanson, T Phan. 2024: Bubbly Recessions. SBAHT Phan. 2024 Meeting Papers, 2024. 2024: Online Appendix for … WebWe develop a simple model of defaultable debt and rational bubbles in the price of an asset, which can be pledged as collateral in a competitive credit pool. When the asset pledgeability is low, the down payment is high, and bubble investment is unleveraged, as in a standard rational bubble model.
WebFeb 23, 2024 · We analytically characterize how the collapse of bubbles can interact with wage rigidity to generate deep and protracted recessions with involuntary …
Web"Bubbly Recessions," 2024 Meeting Papers 116, Society for Economic Dynamics. Paul A. Samuelson, 1958. " An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money ," Journal of Political Economy , University of Chicago Press, vol. 66, pages 467-467. hunter camper trailersWebA bubbly asset has a positive market value because purchasing the asset is the sole saving method for agents who draw insufficient productivity, whereas selling the asset is a fund-raising method to initiate an investment project. marty\\u0027s race carsWebFinally, from the analysis above of the equilibrium dynamics, the bubbly steady state can be straightforwardly characterized as in the main text. A3. Welfare functions The expected … marty\\u0027s randolphWeb"Bubbly Recessions," 2024 Meeting Papers 440, Society for Economic Dynamics. Siddhartha Biswas & Andrew Hanson & Toan Phan, 2024. "Bubbly Recessions," 2024 Meeting Papers 116, Society for Economic Dynamics. Siddhartha Biswas & Andrew Hanson & Toan Phan, 2024. "Bubbly Recessions," Working Paper 18-5, Federal Reserve Bank … hunter call of the wild yukon wolf huntingWebBubbly Recessions Biswas 1, Hanson 2, Phan 3 2024 WP 9 0 8 0 View full text Add to dashboard Buy / Rent full text show abstract “…We will focus on a macroprudential policy of taxing bubble speculation, so that private agents internalize the pecuniary externality of the speculative bubble's boom and bust. marty\u0027s race carsWebAccess Statistics for Toan Phan Author contact details at EconPapers.. Working Paper File Downloads Abstract Views; Last month: 3 months: 12 months: Total marty\\u0027s reliableWebThe financial sector is dominated by special purpose vehicles created for tax reasons. The financial assets and liabilities of these vehicles are issued or held abroad, amounting to around 500 per cent of GDP. The remaining part of the financial sector has almost doubled in size relative to GDP over the past 25 years. marty\u0027s randolph