Asset Pricing and Bubbles (ECO-AD-ASSPRIBUB)
||ECO Advanced courses
||,5 (EUI Economics Department)
This half-credit course covers the theory of rational bubbles in asset prices. It focuses on (i) the sources of asset bubbles, i.e., which frictions (dynamic inefficiency, financial frictions, agency problems...) may give rise to bubbly equilibria; (ii) their macroeconomic implications (for efficiency, growth, instability, capital flows, factor misallocation...); and (iii) their policy implications (for monetary, fiscal and macro-prudential policy).Grading
Grading will be based on a referee report (50%) and a 20-minute in-class presentation (50%).
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Page last updated on 21 September 2018