Xavier gabaix, harvard university and nber a behavioral new keynesian model. Discussion \economic growth with bubbles ruschlikon, 2011 1 18. Asriyan, fornaro, martin, and ventura propose a model of money, credit and bubbles, and use it to study the role of monetary policy in managing asset bubbles. A theory of economic unions, journal of monetary economics. Quarterly journal of economics 117 2, 659694, 2002. Aart kraay and jaume ventura no 1825, policy research working paper series from the world bank abstract. Daron acemoglu jaume ventura quarterly journal of economics, 117, pp 659694. Capital in the 21st century vox, cepr policy portal. These textbooks provide alternative treatments of many of the topics in this course. Sloan research fellow 199092, a senior staff economist at cea 199192 and a casbs fellow at stanford 199697 and 202021. Archive of new national bureau of economic research working. Denazification and antisemitism in germany, 19332006 with nico voigtlander.
We develop a stylized model of economic growth with bubbles in which changes in investor sentiment lead to the appearance and collaps. Economics working papers, department of economics and business, universitat pompeu fabra view citations 3 also in 2004 meeting papers, society for economic dynamics 2004 view citations 7 cepr discussion papers, c. Budget cuts and social unrest in europe, 19192009 with jacopo ponticelli. Jaume ventura earned his phd in economics at harvard university in. Jaume ventura national bureau of economic research. What is the current account response to a transitory income shock such as a temporary improvement in the terms of trade, a transfer from abroad, or unusually high production. Currency crises, krugman university of chicago press. Managing credit bubbles by martin alberto and ventura jaume. Nber papers on international trade and investment program. Theoretical notes on bubbles and the current crisis pdf. Asset bubbles and sudden stops in a small open economy pdf september 2014, with jaume ventura in global liquidity, spillovers to. Technical change, inequality, and the labor market daron acemoglu journal of economic literature, 40, pp.
International trade seminar event details the frank d. Economic growth with bubbles by alberto martin and jaume ventura. Underpricing and participation limits with costly information ann e. His research interests include international economics and macroeconomics. On 19th december, cepr and the bank of england hosted a joint workshop to discuss thomas pikettys seminal work capital in the 21st century. He has been a codirector of the international macroeconomics programme of the cepr and has served as editor of the economic journal. In 2011 i rejoined the economics department at wisconsin, before joining the economics department at dartmouth in the fall of 2014. The authors reexamine a classic question in international economics. Towards a theory of current accounts by ventura, jaume. Joint central bank conference, 2011 cosmin ilut duke univ. I was a national fellow of the hoover institution 198889, an alfred p. Jme journal of monetary economics supplement issue.
Chaired by the banks chief economist andy haldane, the panel comprised orazio attanasio, tim besley, peter lindert, thomas piketty and jaume ventura. Most downloaded journal of monetary economics articles. Jaume cabre i fabre barcelona, 1947 is a philologist and catalan writer. Most downloaded journal of monetary economics articles elsevier. Citescore values are based on citation counts in a given year e. Insights from general equilibrium, central banking, analysis, and economic policies book series, in. In this paper, gabaix presents a framework for analyzing how bounded rationality affects monetary and fiscal policy. The following are new or updated chapters for forthcoming books.
November 78, 2014 research conference on asset price fluctuations and economic policy. Jaume ventura is director and senior researcher at crei, professor at upf, and barcelona gse research professor. Previously, he has held academic positions at mit and the university of chicago. Theoretical notes on bubbles and the current crisis, nber working papers 16399, national bureau of economic. Creditor discrimination and crowdingout effects, economics working papers 72, department of economics and business, universitat pompeu fabra, revised nov 20. Jaume ventura is a senior researcher at crei and a professor of economics at universitat pompeu fabra. The school offers a variety of masters degrees in economics, finance, and data science. What is the current account response to a transitory income shock such as a temporary. We study a dynamic economy where credit is limited by insufficient collateral and, as a result, investment and output are too low.
Chaired by the banks chief economist andy haldane, the panel comprised orazio attanasio, tim besley, peter lindert, thomas piketty and. From trade liberalization to regulatory convergence. He has also taught at the university of chicago and insead. The barcelona graduate school of economics, commonly referred to as barcelona gse, is an independent institution of research and graduate education located in barcelona, spain. Oria by jaume cabre and a great selection of related books, art and collectibles available now at. A mustread for all scholars in the fields of public economics, international economics and international relations. The model is a tractable and parsimonious enrichment of the widelyused new keynesian model with one main new parameter, which quantifies how poorly agents understand future policy and its impact. After decades of successful growth, economic unions have recently become the focus of heightened political controversy. Discussion of \economic growth with bubbles by alberto martin and jaume ventura cosmin ilut duke univ. The recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on highly political issues like tax rates and government spending. Managing credit bubbles by martin alberto and ventura. Home jaume ventura, pompeu fabra september, 2006 2006 18 sep 2. Crei director and senior researcher, upf professor and barcelona gse research professor. Maurice obstfeld in global liquidity spillovers to emerging markets and policy responses, edited by claudio raddatz, diego saravia, and jaume ventura, central bank of chile, 2015 the international monetary system.
He has been a codirector of the international macroeconomics. Here venture and voth argue that the spillovers from the creation of the technology of a debt marketplace were enormous, as only after the government had. Economic growth with bubbles american economic association. Prior to joining crei and upf, he was a tenured associate professor at mit. The process of creating a marketespecially as delicate and complicated a market as a market for debt and equity investments in relatively largescale enterprisesis not a straightforward process. In seeking to draw lessons from the statistics on inequality, we have to be confident in the quality of the data we are using. Massachusetts institute of technology mit, department of economics associate professor of economics with tenure, 20022003. In this environment, changes in investor sentiment or market expec. What is the current account response to a transitory income shock such as a temporary improvement in the terms of trade. This is an extraordinary book that provides a rigourous, fun, and highly original view of what determines the number and size of countries.
Theoretical notes on bubbles and the current crisisimf economic. Graduated in catalan philology by the university of barcelona, highschool professor in leave of absence and teacher to the university of lleida, member of the philological section of the institut destudis catalans. The world income distribution, quarterly journal of economics, 2002, v1072,may, 659694. Department of economics julis romo rabinowitz building princeton, nj 08544 main office. Alberto martin and jaume ventura the macroeconomics of rational bubbles. Jaume ventura earned his phd in economics at harvard university in 1995. Kraay and ventura reexamine a classic question in international economics. Comparative advantage and the crosssection of business cycles with aart kraay.
It has been ranked by repec among the top economics departments in the world. Jaume ventura barcelona graduate school of economics. Archive of new national bureau of economic research. Books scanned by the internet archive for the massachusetts institute of technology libraries. There is no universally accepted definition of a currency crisis, but most would agree that they all involve one key element.
Pentti kouri career development associate professor of economics 19992002. A theory of economic unions gino gancia, giacomo a. Jaume ventura, pompeu fabra department of economics. International finance and macroeconomics, international trade and investment, political economy after decades of successful growth, economic unions have recently become the focus of heightened political controversy. A fast and simple algorithm for the maximum flow problem. Publication date 2002 topics capital movements, balance of payments publisher. International finance and macroeconomics, international trade and investment, political economy. This cited by count includes citations to the following articles in scholar. Journal of monetary economics open access articles elsevier. Jaume ventura, crei department of economics princeton. In the nineteenth century, economic and political integration proceeded together. Visiting positions london business school, visiting professor of economics, mayjune 2007.
A users guide, working papers 989, barcelona graduate school of economics. Theoretical notes on bubbles and the current crisis. At the heart of the debate are fiscal multipliers, whose size and sensitivity determine the power of such policies to influence economic growth. Uzh department of economics research and publications. In this model, bubbles pop up and burst, generating fluctuations in credit, investment and output. Daron acemoglu national bureau of economic research. Inequality, economics and politics thomas piketty at the. Kraay, aartventura, jaume authors registered in the repec author service.
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