Ascendant altruism and asset price bubbles
Résumé
We consider an overlapping generations economy with altruism towards parents and a long-lived asset that delivers no dividends (pure bubble asset). We explore the role of ascendant altruism on the dynamics properties of equilibrium and rational bubbles in the cases of exogenous and endogenous growths.
Origine | Fichiers produits par l'(les) auteur(s) |
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