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Chapitre D'ouvrage Année : 2017

Rational land and housing bubbles in infinite-horizon economies

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.
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Dates et versions

halshs-01397606 , version 1 (16-11-2016)

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  • HAL Id : halshs-01397606 , version 1

Citer

Cuong Le Van, Stefano Bosi, Ngoc-Sang Pham. Rational land and housing bubbles in infinite-horizon economies. K. Nishimura, A. Venditti and N. Yannelis. Sunspots and Non-Linear Dynamics – Essays in honor of Jean-Michel Grandmont, Springer-Verlag, pp.203-230, 2017, Studies in Economic Theory. ⟨halshs-01397606⟩
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