Bubbles and Total Factor Productivity
Evidence shows that asset price bubbles typically precede financial crises and financial crises are accompanied by the collapse of bubbles. In addition, stock market booms and busts are typically associated with credit market booms and busts. The recent US housing and stock markets bubbles and the subsequent Great Recession that began in late 2007 provide an example. The stock market booms in the early 1990s and the subsequent Asian financial crisis in 1997 provide ...
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Pengfei Wang & Jianjun Miao, 2012.
"Sectoral Bubbles and Endogenous Growth,"
2012 Meeting Papers
227, Society for Economic Dynamics.
- Jianjun Miao & PENGFEI WANG, 2011. "Sectoral Bubbles and Endogenous Growth," Boston University - Department of Economics - Working Papers Series WP2011-032, Boston University - Department of Economics.
- Miao, Jianjun & Wang, Pengfei, 2015.
"Banking bubbles and financial crises,"
Journal of Economic Theory,
Elsevier, vol. 157(C), pages 763-792.
- Jianjun Miao & PENGFEI WANG, 2012. "Banking Bubbles and Financial Crisis," Boston University - Department of Economics - Working Papers Series WP2012-010, Boston University - Department of Economics.
- Albert Queralto, 2011. "Financial Market Frictions, Productivity Growth and Crises in Emerging Economies," 2011 Meeting Papers 697, Society for Economic Dynamics.
- Rui Albuquerque & Hugo A. Hopenhayn, 2004. "Optimal Lending Contracts and Firm Dynamics," Review of Economic Studies, Oxford University Press, vol. 71(2), pages 285-315.
- Felipe Meza & Erwan Quintin, 2005. "Financial crises and total factor productivity," Center for Latin America Working Papers 0105, Federal Reserve Bank of Dallas.
- Tirole, Jean, 1985. "Asset Bubbles and Overlapping Generations," Econometrica, Econometric Society, vol. 53(6), pages 1499-1528, November.
- Zheng Liu & Pengfei Wang, 2014. "Credit Constraints and Self-Fulfilling Business Cycles," American Economic Journal: Macroeconomics, American Economic Association, vol. 6(1), pages 32-69, January.
- Jianjun Miao & PENGFEI WANG, 2011.
"Bubbles and Credit Constraints,"
Boston University - Department of Economics - Working Papers Series
WP2011-031, Boston University - Department of Economics.
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