Ascendant altruism and asset price bubbles

Stefano Bosi (), Thai Ha-Huy (), Cao‐tung Pham 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 Paris-Saclay
Thai Ha-Huy: EPEE - Centre d'Etudes des Politiques Economiques - UEVE - Université d'Évry-Val-d'Essonne - Université Paris-Saclay
Cao‐tung Pham: EPEE - Centre d'Etudes des Politiques Economiques - UEVE - Université d'Évry-Val-d'Essonne - Université Paris-Saclay
Ngoc‐sang Pham: Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School

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Abstract: We consider an overlapping generations economy with altruism towards parents and a long-lived asset that delivers no dividends (pure bubble asset). We explore the role of ascendant altruism on the dynamics properties of equilibrium and rational bubbles in the cases of exogenous and endogenous growths.

Keywords: Overlapping generations; Ascendant altruism; Capital accumulation; Growth; Rational bubbles (search for similar items in EconPapers)
Date: 2021-12-06
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-03409931v1
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Published in International Journal of Economic Theory, 2021, 18 (4), pp.532-551. ⟨10.1111/ijet.12330⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-03409931

DOI: 10.1111/ijet.12330

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