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Journal Articles Mathematical Social Sciences Year : 2017

Asset bubbles and efficiency in a generalized two-sector model

Abstract

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.

Dates and versions

hal-03260731 , version 1 (15-06-2021)

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Stefano Bosi, Cuong Le Van, Ngoc-Sang Pham. Asset bubbles and efficiency in a generalized two-sector model. Mathematical Social Sciences, 2017, 88, pp.37-48. ⟨10.1016/j.mathsocsci.2017.05.001⟩. ⟨hal-03260731⟩
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