Electronic Theses and Dissertations

Date of Award

1-1-2019

Document Type

Dissertation

Degree Name

Ph.D. in Education

First Advisor

John Conlon

Second Advisor

Joshua Hendrickson

School

University of Mississippi

Relational Format

dissertation/thesis

Abstract

This dissertation provides two papers on asset market bubbles. The first chapter analyzes the welfare effect of anti-bubble policy in a macroeconomic model containing both an asset market and a goods market. Overall this chapter shows that anti-bubble policy decreases the welfare of asset seller increases the welfare of asset buyers and has no effect on the welfare of the production side of the goods market. The second chapter provides examples of strong greater-fool bubbles with three states of the world and three periods. It provides examples of strong greater-fool bubbles at various levels of endowment durability as well as an example with a one-period bond issued in period 2.

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