Format du dépôt |
Fichier |
Type de dépôt |
Autre publication scientifique |
Titre |
en
Intertemporal equilibrium with financial asset and physical capital
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Résumé |
en
We build an infinite-horizon dynamic deterministic general equilibrium model with imperfect markets (because of borrowing constraints), in which heterogeneous agents invest in capital or/and financial asset, and consume. There is a representative firm who maximizes its profit. Firstly, the existence of intertemporal equilibrium is proved even if aggregate capital is not uniformly bounded. Secondly, we study the interaction between the financial market and the productive sector. We also explore the nature of physical capital bubble and financial asset bubble as well.
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Auteur(s)
|
Cuong Le Van
1, 2, 3, 4
, Ngoc-Sang Pham
5, 4
1
IPAG
( 209022 )
- France
-
Business School ( 332114 )
2
VCREME -
Van Xuan Center of Research in Economics, Management and Environment
( 155772 )
- 38, alley 133, Thai Ha Street, Ha Noi
- Viêt Nam
3
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
-
Université Paris 1 Panthéon-Sorbonne ( 7550 )
;
-
École normale supérieure - Paris ( 59704 )
;
-
Université Paris Sciences et Lettres ( 564132 )
;
-
École des hautes études en sciences sociales ( 99539 )
;
-
École des Ponts ParisTech ( 301545 )
;
-
Centre National de la Recherche Scientifique ( 441569 )
;
-
Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement ( 577435 )
4
CES -
Centre d'économie de la Sorbonne
( 15080 )
- Maison des Sciences Économiques - 106-112 Boulevard de l'Hôpital - 75647 Paris Cedex 13
- France
-
Université Paris 1 Panthéon-Sorbonne UMR8174 ( 7550 )
;
-
Centre National de la Recherche Scientifique UMR8174 ( 441569 )
5
EPEE -
Centre d'Etudes des Politiques Economiques
( 19169 )
- 4, boulevard François Mitterrand, 91025 EVRY CEDEX
- France
-
Université d'Évry-Val-d'Essonne EA 2177 ( 300306 )
|
Langue du document |
Anglais
|
Vulgarisation |
Non
|
Date de publication |
2014-08
|
Description |
Documents de travail du Centre d'Economie de la Sorbonne 2014.85R - ISSN : 1955-611X - Version révisée : février 2015
|
Commentaire |
Domaine(s) |
-
Sciences de l'Homme et Société/Economies et finances
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Mots-clés (JEL) |
-
C - Mathematical and Quantitative Methods/C.C6 - Mathematical Methods • Programming Models • Mathematical and Simulation Modeling/C.C6.C62 - Existence and Stability Conditions of Equilibrium
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D - Microeconomics/D.D3 - Distribution/D.D3.D31 - Personal Income, Wealth, and Their Distributions
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D - Microeconomics/D.D9 - Micro-Based Behavioral Economics/D.D9.D91 - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
-
E - Macroeconomics and Monetary Economics/E.E4 - Money and Interest Rates/E.E4.E44 - Financial Markets and the Macroeconomy
|
Mots-clés |
en
infinite horizon, intertemporal equilibrium, financial friction, productivity, efficiency, fluctuation, bubbles
|