Rational land and housing bubbles in infinite-horizon economies
Cuong Le van,
Stefano Bosi () 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: land bubble; general equilibrium; infinite horizon; housing bubble (search for similar items in EconPapers)
Date: 2017
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Published in K. Nishimura, A. Venditti and N. Yannelis. Sunspots and Non-Linear Dynamics – Essays in honor of Jean-Michel Grandmont, Springer-Verlag, pp.203-230, 2017, Studies in Economic Theory
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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 (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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Persistent link: https://EconPapers.repec.org/RePEc:hal:cesptp:halshs-01397606
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