Ascendant altruism and asset price bubbles

Bosi, Stefano and Ha-Huy, Thai and Pham, Cao-Tung and Pham, Ngoc-Sang (2021): Ascendant altruism and asset price bubbles.

Abstract

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.

• Item Type: MPRA Paper
• Language: English
• Keywords: Overlapping generations, ascendant altruism, capital accumulation, growth, rational bubbles
• Subjects: D - Microeconomics > D6 - Welfare Economics > D64 - Altruism ; Philanthropy; E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E44 - Financial Markets and the Macroeconomy; G - Financial Economics > G1 - General Financial Markets > G10 - General

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