Bubbles and Self-Enforcing Debt

DOI10.3982/ECTA6754zbMath1188.91072OpenAlexW1784272075MaRDI QIDQ5305248

Guido Lorenzoni, Christian Hellwig

Publication date: 19 March 2010

Published in: Econometrica (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.3982/ecta6754

zbMATH Keywords

rational bubblesrisk sharingself-enforcing debtsovereign debt

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24) General equilibrium theory (91B50)

Related Items (23)

Introduction to economic theory of bubbles. II ⋮ Robust bubbles with mild penalties for default ⋮ Introduction to economic theory of bubbles ⋮ Bubbles and trading in incomplete markets ⋮ Rational asset pricing bubbles and debt constraints ⋮ Sectoral bubbles, misallocation, and endogenous growth ⋮ Cryptocurrency and double spending history: transactions with zero confirmation ⋮ Bubble economics ⋮ Uniqueness of competitive equilibrium with solvency constraints under gross-substitution ⋮ Portfolio constraints, differences in beliefs and bubbles ⋮ A duality approach to continuous-time contracting problems with limited commitment ⋮ Asset prices, debt constraints and inefficiency ⋮ Outside versus inside bonds: a Modigliani-Miller type result for liquidity constrained economies ⋮ Credit and inflation under borrower's lack of commitment ⋮ Credit risk in general equilibrium ⋮ Martingale properties of self-enforcing debt ⋮ Rational housing bubble ⋮ On the sovereign debt paradox ⋮ Indeterminacy in credit economies ⋮ Dollarization and financial integration ⋮ Bubbly Markov equilibria ⋮ Asset shortages, liquidity and speculative bubbles ⋮ Public debt and total factor productivity

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