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 - Centre d'Etudes des Politiques Economiques - UEVE - Université d'Évry-Val-d'Essonne

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

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)
Date: 2016-02
New Economics Papers: this item is included in nep-dge and nep-ure
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01314609v1
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Citations: View citations in EconPapers (2)

Published in 2016

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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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