Asset bubbles, credit market imperfections, and technology choice

Tarishi Matsuoka and Akihisa Shibata

Economics Letters, 2012, vol. 116, issue 1, 52-55

Abstract: This paper introduces a bubbly asset into the Matsuyama (2007) model with credit market imperfections and multiple technologies and shows that there can exist multiple bubbly steady states and bubbles may cause underdevelopment traps by preventing the adoption of high productivity technology.

Keywords: Asset bubbles; Credit market imperfections; Technology adoption (search for similar items in EconPapers)
JEL-codes: E44 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (11)

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Working Paper: Asset Bubbles, Credit Market Imperfections, and Technology Choice (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:116:y:2012:i:1:p:52-55

DOI: 10.1016/j.econlet.2012.01.009

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