Panel Discussion, Cato Institute, 24th Annual Monetary Conference, Washington, D.C., Nov. 16, 2006

Regional Economic Summit, Evansville, Ind., Nov. 20, 2008

Cato Institute, Washington, D.C., Nov. 30, 2007

Memphis, Tenn., Oct. 14, 2008

The 2007-2008 financial crises has made it painfully obvious that markets may quickly turn illiquid. Moreover, recent experience has taught us that distress and lack of active trading can jump "around" between seemingly unconnected parts of the financial system contributing to transforming...

Why are asset prices so much more volatile and so often detached from their fundamentals? Why does the burst of financial bubbles depress the real economy? This paper addresses these questions by constructing an infinite-horizon heterogeneous-agent general-equilibrium model with speculative...

Indiana University, Bloomington, Ind., Oct. 2, 2008

The Henry Thornton Lecture, Cass Business School, London. March 24, 2009

Panel Discussion, Cato Institute, 24th Annual Monetary Conference, Washington, D.C., Nov. 16, 2006