Shi, Lisi and Suen, Richard M. H. (2013): Asset Bubbles in an Overlapping Generations Model with Endogenous Labor Supply.
Preview |
PDF
MPRA_paper_48835.pdf Download (143kB) | Preview |
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.
Item Type: | MPRA Paper |
---|---|
Original Title: | Asset Bubbles in an Overlapping Generations Model with Endogenous Labor Supply |
Language: | English |
Keywords: | Asset Bubbles, Overlapping Generations, Endogenous Labor. |
Subjects: | E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy > E22 - Investment ; Capital ; Intangible Capital ; Capacity E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E44 - Financial Markets and the Macroeconomy |
Item ID: | 48835 |
Depositing User: | Richard M. H. Suen |
Date Deposited: | 06 Aug 2013 08:14 |
Last Modified: | 29 Sep 2019 09:08 |
References: | Azariadis, C., Chakraborty, S., 1998. Asset price volatility in a nonconvex general equilibrium model. Economic Theory 12, 649-665. Farhi, E., Tirole, J., 2012. Bubbly liquidity. Review of Economic Studies 79, 678-706. Galor, O., Ryder, H.E., 1989. Existence, uniqueness and stability of equilibrium in an overlapping-generations model with productive capital. Journal of Economic Theory 49, 360-375. Gourinchas, P.O., Parker, J.A., 2002. Consumption over the life cycle. Econometrica 70, 47-89. Hansen, G.D., 1985. Indivisible labor and the business cycle. Journal of Monetary Economics 16, 309-327. Martin, A., Ventura, J., 2012. Economic growth with bubbles. American Economic Review 102, 3033-3058. Miao, J., Wang, P., 2012. Bubbles and total factor productivity. American Economic Review Papers and Proceedings, 102, 82-87. Nourry, C., 2001. Stability of equilibria in the overlapping generations model with endogenous labor supply. Journal of Economic Dynanmics and Control, 25, 1647-1663. Olivier, J., 2000. Growth-enhancing bubbles. International Economic Review 41, 133-151. Tirole, J., 1985. Asset bubbles and overlapping generations. Econometrica 53, 1499-1528. Weil, P., 1987. Confidence and the real value of money in an overlapping generations economy. Quarterly Journal of Economics 102, 1-22. |
URI: | https://mpra.ub.uni-muenchen.de/id/eprint/48835 |