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2017
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- handle: 10670/1.a9p58u
- halshs: halshs-01397606
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land bubble general equilibrium infinite horizon housing bubble C - Mathematical and Quantitative Methods/C.C6 - Mathematical Methods • Programming Models • Mathematical and Simulation Modeling/C.C6.C62 - Existence and Stability Conditions of Equilibrium D - Microeconomics/D.D5 - General Equilibrium and Disequilibrium/D.D5.D51 - Exchange and Production Economies D - Microeconomics/D.D9 - Intertemporal Choice G - Financial Economics/G.G1 - General Financial Markets/G.G1.G13 - Contingent Pricing • Futures PricingSujets proches
Land Land utilization Utilization of land Use of land Balancing (Physics) Balance (Physics) BalanceCiter ce document
Cuong Le Van et al., « Rational land and housing bubbles in infinite-horizon economies », HAL-SHS : économie et finance, ID : 10670/1.a9p58u
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This paper considers rational land and housing bubbles in an infinite-horizon general equilibrium model. Their demands rest on two different grounds: the land is an input to produce while the house may be consumed. Our work differs from the existing literature in two respects. First, dividends on both these long-lived assets are endogenous and their sequences are computed. Second, we introduce and study different concepts of bubbles, including individual and strong bubbles.