Asset bubbles and efficiency in a generalized two-sector model

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: We consider a multi-sector infinite-horizon general equilibrium model. Asset supply is endogenous. The issues of equilibrium existence, efficiency, and bubble emergence are addressed. We show how different assets give rise to very different rational bubbles. We also point out that efficient bubbly equilibria may exist.

Keywords: infinite-horizon; general equilibrium; aggregate good bubble; capital good bubble; efficiency (search for similar items in EconPapers)
Date: 2016-03
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-01316876v1
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Published in 2016

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Related works:
Journal Article: Asset bubbles and efficiency in a generalized two-sector model (2017)
Working Paper: Asset bubbles and efficiency in a generalized two-sector model (2017)
Working Paper: Asset bubbles and efficiency in a generalized two-sector model (2017)
Working Paper: Asset bubbles and efficiency in a generalized two-sector model (2017)
Working Paper: Asset bubbles and efficiency in a generalized two-sector model (2016)
Working Paper: Asset bubbles and efficiency in a generalized two-sector model (2016)
Working Paper: Asset bubbles and efficiency in a generalized two-sector model (2016)
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