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Financial bubbles and capital accumulation in altruistic economies

Stefano Bosi, Thai Ha-Huy (), Cuong Le Van, Cao-Tung Pham and Ngoc-Sang Pham ()

Journal of Mathematical Economics, 2018, vol. 75, issue C, 125-139

Abstract: We consider an overlapping generations model à la Diamond (1965) with two additional ingredients: altruism and an asset (or land) bringing non-stationary positive dividends (or fruits). We study the global dynamics of capital stocks and asset values as well as the interplay between them. Asset price bubbles are also investigated.

Keywords: Forward altruism; Overlapping generations; Capital accumulation; Financial asset; Positive dividends; Rational bubbles (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:eee:mateco:v:75:y:2018:i:c:p:125-139