Macroeconomic Theory and History -- Basic Macroeconomic Model -- Exogenous and Endogenous Fluctuations -- Exogenous and … Endogenous Growth -- Asset Prices and Bubbles -- Credit Cycle -- Cash Payment and Inflation -- Complete and Incomplete Markets …This book offers a comprehensive introduction to modern macroeconomic theory, bridging foundational concepts with …

suite of models for financial bubbles and crashes. By modifying previous approaches, we are able to derive novel analytical … applications is deep and wide ranging, and includes contemporary housing bubbles, the Eurozone crisis and the Crash of 2008. …

We develop a model of rational bubbles based on leverage and the assumption of an imprecisely known maximum market size … lend to traders with limited liability in a bubble is endogenous. Bubbles reduce welfare of future investors. We provide … general conditions for the possibility of bubbles depending on uncertainty about market size, traders' degree of leverage and …

bubbles and similar price dynamics in all treatments (with moderately lower prices in the treatments with a long horizon) …