Intertemporal equilibrium with financial asset and physical capital

Cuong Le van and Ngoc-Sang Pham

No 15-01, Documents de recherche from Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne

Abstract: We build an infinite-horizon dynamic deterministic general equilibrium model with imperfect markets (because of borrowing constraints), in which heterogeneous agents invest in capital or/and financial asset, and consume. There is a representative firm who maximizes its profit. Firstly, the existence of intertemporal equilibrium is proved even if aggregate capital is not uniformly bounded. Secondly, we study the interaction between the financial market and the productive sector. We also explore the nature of physical capital bubble and financial asset bubble as well.

Keywords: Infinite horizon; intertemporal equilibrium; financial friction; productivity; efficiency; fluctuation; bubbles (search for similar items in EconPapers)
JEL-codes: C62 D31 D91 E44 G10 (search for similar items in EconPapers)
Pages: 47 pages
Date: 2015
New Economics Papers: this item is included in nep-dge and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

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Related works:
Journal Article: Intertemporal equilibrium with financial asset and physical capital (2016)
Working Paper: Intertemporal equilibrium with financial asset and physical capital (2016)
Working Paper: Intertemporal equilibrium with financial asset and physical capital (2016)
Working Paper: Intertemporal equilibrium with financial asset and physical capital (2016)
Working Paper: Intertemporal equilibrium with financial asset and physical capital (2015)
Working Paper: Intertemporal equilibrium with financial asset and physical capital (2014)
Working Paper: Intertemporal equilibrium with financial asset and physical capital (2014)
Working Paper: Intertemporal equilibrium with financial asset and physical capital (2014)
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