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We build an infinite-horizon dynamic deterministic general equilibrium model with imperfect markets (because of borrowing constraints), in which heterogeneous agents invest in capital or/and financial asset, and consume. There is a representative firm who maximizes its profit. Firstly, the...
Persistent link: https://www.econbiz.de/10011184305
We build an infinite-horizon dynamic deterministic general equilibrium model with imperfect markets (because of borrowing constraints), in which heterogeneous agents invest in capital or/and financial asset, and consume. There is a representative firm who maximizes its profit. Firstly, the...
Persistent link: https://www.econbiz.de/10011184306
both efficiency and bubble. …
Persistent link: https://www.econbiz.de/10011184308