Financial bubbles and capital accumulation in altruistic economies
Journal article: We consider an overlapping generations model a 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. (C) 2018 Elsevier B.V. All rights reserved.
Author(s)
Stefano Bosi, Thai Ha-Huy, Cuong Le Van, Cao-Tung Pham, Ngoc-Sang Pham
Journal
- Journal of Mathematical Economics
Date of publication
- 2018
Keywords
- Forward altruism
- Overlapping generations
- Capital accumulation
- Financial asset
- Positive dividends
- Rational bubbles
Pages
- 125-139
URL of the HAL notice
Version
- 1
Volume
- 75