Financial bubbles and capital accumulation in altruistic economies

Stefano Bosi (University of Evry Paris-Saclay) & Thai Ha-Huy (University of Evry Paris-Saclay) & Cuong Le Van & Cao-Tung Pham & Ngoc-Sang Pham (EM Normandie Business School)

 

We consider an overlapping generations model à la Diamond (1965) with two additional ingredients: altruism and an asset (or land) bringing non-stationary positive dividends (or fruits). We study the global dynamics of capital stocks and asset values as well as the interplay between them. Asset price bubbles are also investigated.

 

Published in

Journal of Mathematical Economics, 2018


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