Munich Personal RePEc Archive

Asset Bubbles in an Overlapping Generations Model with Endogenous Labor Supply

Shi, Lisi and Suen, Richard M. H. (2013): Asset Bubbles in an Overlapping Generations Model with Endogenous Labor Supply.

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Abstract

This paper examines the effects of asset bubbles in an overlapping generations model with endogenous labor supply. We derive a set of conditions under which asset bubbles will lead to an expansion in steady-state capital, investment, employment and output. We also provide a specific numerical example to illustrate these results.

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