Financial bubbles and capital accumulation in altruistic economies
نویسندگان
چکیده
We consider an overlapping generations model à la Diamond (1965) with two additional ingredients: altruism and an asset (or land) bringing non-stationary positive dividends (or fruits). We study the global dynamics of capital stocks and asset values as well as the interplay between them. Asset price bubbles are also investigated.
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تاریخ انتشار 2018