Asset bubbles and efficiency in a generalized two-sector model
Article dans une revue: We consider a multi-sector infinite-horizon general equilibrium model. The issues of equilibrium existence, efficiency, and bubble emergence are addressed. We show how different assets give rise to different rational bubbles. We also point out that efficient bubbly equilibria may exist.
Auteur(s)
Stefano Bosi, Cuong Le Van, Ngoc-Sang Pham
Revue
- Mathematical Social Sciences
Date de publication
- 2017