Asset bubbles and efficiency in a generalized two-sector model

被引：3
作者：
Bosi, Stefano [1 ]
Le Van, Cuong [2 ]
Pham, Ngoc-Sang [3 ]
机构：
[1] Univ Evry, EPEE, Evry, France
[2] VCREME, CNRS, PSE, IPAG Business Sch, Paris, France
[3] Montpellier Res Management, Montpellier Business Sch, Montpellier, France
来源：
MATHEMATICAL SOCIAL SCIENCES | 2017年 / 88卷
关键词：
RAMSEY EQUILIBRIUM; TRANSVERSALITY CONDITION; ECONOMIC-GROWTH; CONSTRAINTS; ACCUMULATION;
D O I：
10.1016/j.mathsocsci.2017.05.001
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We consider a multi-sector infinite-horizon general equilibrium model. The issues of equilibrium existence, efficiency, and bubble emergence are addressed. We show how different assets give rise to different rational bubbles. We also point out that efficient bubbly equilibria may exist. (C) 2017 Elsevier B.V. All rights reserved.
引用
收藏
页码：37 / 48
页数：12
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