研讨论文：
Asset Bubbles and Credit Constraints
论文作者及相关信息：Jianjun Miao and Pengfei Wang (2018)，The American Economic Review
主讲人：
王建华（2022届博士，北京银行）
时间：
4月8日（星期六）
18:30-21:30
点评老师：
王忏、明洋
线下地址：
学术会堂712（限25人）
线上地址：
222-238-157（腾讯会议）
活动对象：
创新发展学院、金融学院学生
温馨提示：
线下会场人满后限制入场，线下参会师生请佩戴好口罩。
上周回顾
Last week, we mainly discussed the first four propositions and their corresponding economic intuitions. We elaborated the proof process of the propositions in detail. In the first four propositions, we obtained a system of differential equations about three endogenous variables, namely asset bubbles, capital prices, and capital stocks.
本周预告
This week, we will continue to explore the three core propositions, namely propositions 5 to 7. If we have enough time, we will study in detail the replication method of the dynamic transition path of the stochastic bubbles in Figure 3. Meanwhile, we may continue to explore the extension of the model and how to extend it to the framework of discrete time.
