Xavier Gabaix, 21 August 2017

How do we model the fact that individuals don't fully understand how the economy works? In this video, Xavier Gabaix discusses the implications for designing monetary policies. This video was recorded in July 2017 at a macroeconomics conference organised by the Bank of England.

Paolo Fulghieri, 13 May 2016

Are booms and busts in the technology sector irrational bubbles? In this Vox Views video, Paolo Fulghieri argues that this pattern is the outcome of rational investors who are uncertainty-averse about future innovation waves. Investors tend to value innovation more when it comes in clubs, whereas when innovation is done in isolation investors are more pessimistic. The video was recorded in April 2016 at the First Annual Spring Symposium on Financial Economics organised by CEPR and the Brevan Howard Centre at Imperial College.

Alberto Martin, Jaume Ventura, 16 February 2011

Modern economies often experience large movements in asset prices that have significant macroeconomic effects. Yet many of these movements in asset prices seem unrelated to economic fundamentals and are often termed “bubbles”. This column explains how recent advances in the theory of rational bubbles can help us to understand these movements in asset prices and their macroeconomic implications.

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