Asset bubbles and efficiency in a generalized two-sector model

Stefano Bosi (), Cuong Le Van () and Ngoc-Sang Pham ()
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Stefano Bosi: EPEE - Centre d'Etudes des Politiques Economiques - UEVE - Université d'Évry-Val-d'Essonne
Cuong Le Van: IPAG Business School, CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement
Ngoc-Sang Pham: LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - Université de Lille - CNRS - Centre National de la Recherche Scientifique, EPEE - Centre d'Etudes des Politiques Economiques - UEVE - Université d'Évry-Val-d'Essonne

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Abstract: We consider a multi-sector infinite-horizon general equilibrium model. Asset supply is endogenous. The issues of equilibrium existence, efficiency, and bubble emergence are addressed. We show how different assets give rise to very different rational bubbles. We also point out that efficient bubbly equilibria may exist.

Keywords: infinite-horizon; general equilibrium; aggregate good bubble; capital good bubble; efficiency (search for similar items in EconPapers)
Date: 2016-03
New Economics Papers: this item is included in nep-dge and nep-sog
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01316876v1
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Published in 2016

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Related works:
Journal Article: Asset bubbles and efficiency in a generalized two-sector model (2017)
Working Paper: Asset bubbles and efficiency in a generalized two-sector model (2017)
Working Paper: Asset bubbles and efficiency in a generalized two-sector model (2017)
Working Paper: Asset bubbles and efficiency in a generalized two-sector model (2017)
Working Paper: Asset bubbles and efficiency in a generalized two-sector model (2016)
Working Paper: Asset bubbles and efficiency in a generalized two-sector model (2016)
Working Paper: Asset bubbles and efficiency in a generalized two-sector model (2016)
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