Professor Toan Phan
Professor Toan Phan recently presented his paper entitled “Bubbly Recessions”, a joint work UNC graduate students Sid Biswas and Andrew Hanson. The paper was presented at the Lab for Aggregate Economics and Finance, a conference focusing on understanding the role of bubbles in the economy and what governments should do about them.
Phan’s goal was to understand how the collapse of economic bubbles can lead to a recession, such as the Great Recession after the collapse of the U.S. housing bubble. Understanding the behavioral pattern of a bubble before it leads to a recession yields important data that can influence government legislation and planning.
The Lab for Aggregate Economics and Finance conference was founded by Nobel Laureate Finn Kydland at the University of California at Santa Barbara.
To read his paper and more about Professor Phan’s research click here.