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Asset bubble and endogenous labor supply: A clarification

Kathia Bahloul Zekkari and Thomas Seegmuller

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Abstract: This paper analyzes the link between asset bubbles, endogenous labor and capital. First, we explicitly and theoretically derive the conditions to have a crowding-in effect of the bubble, i.e. higher levels of capital and labor. Second, the utility function we consider shows that this result does not require an arbitrarily high elasticity of intertemporal substitution in consumption.

Keywords: Asset bubbles; Crowding-in effect; Endogenous labor; Overlapping generations (search for similar items in EconPapers)
Date: 2020-11
Note: View the original document on HAL open archive server: https://amu.hal.science/hal-03002581
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Published in Economics Letters, 2020, 196, pp.109537. ⟨10.1016/j.econlet.2020.109537⟩

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Journal Article: Asset bubble and endogenous labor supply: A clarification (2020) Downloads
Working Paper: Asset bubble and endogenous labor supply: a clarification (2020) Downloads
Working Paper: Asset bubble and endogenous labor supply: a clarification (2020) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03002581

DOI: 10.1016/j.econlet.2020.109537

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