Rational Land and Housing Bubbles in Infinite-Horizon Economies

Stefano Bosi (), Cuong Le Van () and Ngoc-Sang Pham
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Stefano Bosi: University of Evry
Cuong Le Van: IPAG, CNRS, and Paris School of Economics

Chapter Chapter 9 in Sunspots and Non-Linear Dynamics, 2017, pp 203-230 from Springer

Abstract: 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)
Date: 2017
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Related works:
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)
Working Paper: Rational land and housing bubbles in infinite-horizon economies (2016)
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DOI: 10.1007/978-3-319-44076-7_9

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