Financial bubbles and capital accumulation in altruistic economies
Thai Ha-Huy (),
Cuong Le Van,
Cao-Tung Pham and
Ngoc-Sang Pham ()
Journal of Mathematical Economics, 2018, vol. 75, issue C, 125-139
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)
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Working Paper: Financial bubbles and capital accumulation in altruistic economies (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:75:y:2018:i:c:p:125-139
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