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On rational exuberance.
Bosi, Stefano; Seegmuller, Thomas - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2009
) bubbles can arise. From a normative point of view, monetary policies that are not too expansive, are recommended in order to …
Persistent link: https://www.econbiz.de/10005012503
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Equilibrium asset prices and bubbles in a continuous time OLG model
Brito, Paulo - Volkswirtschaftliche Fakultät, … - 2008
asset prices. For a simple distribution, we prove that bubbles may exist, and derive conditions for ruling them out. …
Persistent link: https://www.econbiz.de/10005619429
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Growth effect of bubbles in a non-scale endogenous growth model with in-house R&D
Takao, Kizuku - Graduate School of Economics, Osaka University - 2014
This paper provides a theoretical explanation for why the presence of asset bubbles can lead to higher economic growth … firms also enter into the market. Due to an absence of intergenerational altruism, asset bubbles can exist as pyramid … schemes whose value is not backed by fundamental value. The presence of asset bubbles then leads to higher interest rates …
Persistent link: https://www.econbiz.de/10010837100
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On Rational Exuberance
Bosi, Stefano; Seegmuller, Thomas - HAL - 2009
) bubbles can arise. From a normative point of view, monetary policies that are not too expansive, are recommended in order to …
Persistent link: https://www.econbiz.de/10010738685
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Review of Pension Schemes Under Segmented and Asymmetric Labor Market
Dayangac, Renginar; Ozturk, Bilge - Society for Computational Economics - SCE - 2004
This paper analyses the pension system in Turkey using Computable General Equilibrium (CGE) and Overlapping Generations Models (OLG). The objective of the paper is to evaluate the effects of current pension policies on the macroeconomic aggregates when a segmented and asymmetric labor market is...
Persistent link: https://www.econbiz.de/10005706544
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Complex Adaptive Equilibria in a Standard Overlapping Generations Model with Production
Cellarier, Laurent - Society for Computational Economics - SCE - 2002
Persistent link: https://www.econbiz.de/10005706605
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Growth and Bubbles with Consumption Externalities
Mino, Kazuo - Graduate School of Economics, Osaka University - 2007
or without asset bubbles. …
Persistent link: https://www.econbiz.de/10005710055
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Welfare Analysis of Debt Policy during Recessions
Ogawa, Takayuki - Graduate School of Economics, Osaka University - 2004
This paper develops an overlapping-generations model with nominal wage rigidities and examines the welfare effects of debt policy during recessions. Issues of public debt stimulate aggregate consumption demand and create employment. Future generations then face both increased wage incomes and...
Persistent link: https://www.econbiz.de/10005710062
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Debt, Death and Taxes
Hayakawa, Tatsuji; Zak, Paul - In: International Tax and Public Finance 9 (2002) 2, pp. 157-173
Does the level of government debt affect living standards and if so, to what extent? We quantify the impact of the U.S. federal debt using an open economy overlapping generations model in which consumers have long but finite lifetimes. A demographic structure allows fiscal policy changes to have...
Persistent link: https://www.econbiz.de/10005711265
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Consumption Taxation and Endogenous Growth in a Model with New Generations
Petrucci, Alberto - In: International Tax and Public Finance 9 (2002) 5, pp. 553-566
This article studies the implications of consumption taxation on capital accumulation in a one-sector endogenous growth model with finite horizons. A tax on consumption, when tax revenues are lump-sum rebated to consumers, redistributes income between living generations and future, still unborn,...
Persistent link: https://www.econbiz.de/10005711272