Rational land and housing bubbles in infinite-horizon economies
Cuong Le Van
- Fonction : Auteur
- PersonId : 835139
- ORCID : 0000-0002-2710-522X
- IdRef : 050221027
Ngoc-Sang Pham
- Fonction : Auteur
- PersonId : 736862
- IdHAL : ngoc-sang-pham
- ORCID : 0000-0001-9037-3019
Résumé
This paper considers rational land and housing bubbles in an infinite-horizon general equilibrium model. Their demands rest on two different grounds: the land is an input to produce while the house may be consumed. Our work differs from the existing literature in two respects. First, dividends on both these long-lived assets are endogenous and their sequences are computed. Second, we introduce and study different concepts of bubbles, including individual and strong bubbles.
Domaines
Economies et financesFormat du dépôt | Notice |
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Type de dépôt | Chapitre d'ouvrage |
Titre |
en
Rational land and housing bubbles in infinite-horizon economies
|
Résumé |
en
This paper considers rational land and housing bubbles in an infinite-horizon general equilibrium model. Their demands rest on two different grounds: the land is an input to produce while the house may be consumed. Our work differs from the existing literature in two respects. First, dividends on both these long-lived assets are endogenous and their sequences are computed. Second, we introduce and study different concepts of bubbles, including individual and strong bubbles.
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Auteur(s) |
Cuong Le Van
1, 2, 3, 4
, Stefano Bosi
5
, Ngoc-Sang Pham
5
1
CES -
Centre d'économie de la Sorbonne
( 15080 )
- Maison des Sciences Économiques - 106-112 Boulevard de l'Hôpital - 75647 Paris Cedex 13
- France
2
VCREME -
Van Xuan Center of Research in Economics, Management and Environment
( 155772 )
- 38, alley 133, Thai Ha Street, Ha Noi
- Viêt Nam
3
IPAG Business School
( 542840 )
- 184 boulevard Saint-Germain, 75006 Paris
- France
4
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
5
EPEE -
Centre d'Etudes des Politiques Economiques
( 19169 )
- 4, boulevard François Mitterrand, 91025 EVRY CEDEX
- France
|
Langue du document |
Anglais
|
Titre de l'ouvrage |
Sunspots and Non-Linear Dynamics – Essays in honor of Jean-Michel Grandmont
|
Date de publication |
2017
|
Audience |
Internationale
|
Vulgarisation |
Non
|
Titre de la collection |
Studies in Economic Theory
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Page/Identifiant |
203-230
|
Domaine(s) |
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Mots-clés (JEL) |
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Éditeur commercial |
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Éditeur scientifique |
|
Mots-clés |
en
land bubble, general equilibrium, infinite horizon, housing bubble
|
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