Student Seminar Spring 2007

Speculative Bubbles and Business Cycle Fluctuations

Teacher: Christian Groth

Some general course material
Outline of the seminar
Topics and literature
About student seminars
A lecture note on forward-looking expectations and rational bubbles
Correction lists

Preparatory meetings

First meeting, Tuesday December 16, 2006, 12-13.
Second meeting: Tuesday Febr. 6th, 2007: agenda
Third meeting: Tuesday Febr. 20th, 2007, 8.15-10, Det nye Seminarværelse.
    Topic: Forwardlooking expectations and rational bubbles, cont.
    Material: second part of lecture note. Peter Garber: Famous First Bubbles.
Fourth meeting: Wednesday 7th March, 12-14, Hjørneværelset, 3rd floor to the right:
    Material: Eugene White: The Stock Market Boom and Crash of 1929 Revisited.
Fifth preparatory meeting: Wednesday 21st March, 12-14: Rational bubbles in general equilibrium - are they possible?
    Material: Lecture note. See also Tirole 1985.

Supplementary material

Course in Macro Finance in July 2007: here
Paper: Milo Bianchi and Phillippe Jehiel: Speculative Bubbles Without Stupid Investors, Dec. 2006.
Stiglitz: Symposium on Bubbles, JEP, 4 (2), 1990.
Flood & Rodrick: On testing for speculative bubbles, JEP, 4 (2), 1990.

Speculative behaviour
Stock markets

Background Material

About student seminars