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Macroeconomic Analysis of Asset Bubbles and Its Policy Implications: A Review

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  • Ryo Jinnai

    (Professor, Institute of Economic Research, Hitotsubashi University)

Abstract

This paper discusses the latest research trends on the asset price bubble. I discuss possible reasons why policymakers and researchers have differing opinions on the subject. I discuss a famous policy controversy, as well as the recurrent-bubble model that my collaborators and I have developed. This paper also discusses its policy implications.

Suggested Citation

  • Ryo Jinnai, 2023. "Macroeconomic Analysis of Asset Bubbles and Its Policy Implications: A Review," Public Policy Review, Policy Research Institute, Ministry of Finance Japan, vol. 19(3), pages 1-13, September.
    • Handle: RePEc:mof:journl:ppr19_03_04
    DOI: 10.57520/prippr.19-3-4
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    More about this item

    Keywords

    price asset bubble; rationality; economic policy;
    All these keywords.

    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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