Rational land and housing bubbles in infinite-horizon economies

Stefano Bosi, Cuong Le van and Ngoc-Sang Pham
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Stefano Bosi: EPEE - Université d'Evry

Documents de travail du Centre d'Economie de la Sorbonne from Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne

Abstract: This paper considers rational land and housing bubbles in an infinite-horizon general equilibrium model. Their demands rest on two different grounds: the land is an input to produce while the house may be consumed. Our work differs from the existing literature in two respects. First, dividends on both these long-lived assets are endogenous and their sequences are computed. Second, we introduce and study different concepts of bubbles, including individual and strong bubbles

Keywords: infinite horizon; general equilibrium; land bubble; housing bubble (search for similar items in EconPapers)
JEL-codes: C62 D51 D9 G13 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2016-02
New Economics Papers: this item is included in nep-dge and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in K. Nishimura, A. Venditti and N. Yannelis. Sunspots and Non-Linear Dynamics – Essays in honor of Jean-Michel Grandmont, Springer-Verlag, pp.203-230, 2017, Studies in Economic Theory

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https://shs.hal.science/halshs-01314609 (application/pdf)

Related works:
Chapter: Rational Land and Housing Bubbles in Infinite-Horizon Economies (2017)
Working Paper: Rational land and housing bubbles in infinite-horizon economies (2017)
Working Paper: Rational land and housing bubbles in infinite-horizon economies (2017)
Working Paper: Rational land and housing bubbles in infinite-horizon economies (2017)
Working Paper: Rational land and housing bubbles in infinite-horizon economies (2016)
Working Paper: Rational land and housing bubbles in infinite-horizon economies (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:mse:cesdoc:16027

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