Rational land and housing bubbles in infinite-horizon economies

Bosi, Stefano; Le Van, Cuong; Pham, Ngoc-Sang

Document type :

Partie d'ouvrage

Title :

Rational land and housing bubbles in infinite-horizon economies

Author(s) :

Bosi, Stefano [Auteur]
Centre d'Etudes des Politiques Economiques [EPEE]
Le Van, Cuong [Auteur]
Paris School of Economics [PSE]
IPAG Business School
Centre d'économie de la Sorbonne [CES]
Pham, Ngoc-Sang [Auteur correspondant]
Lille économie management - UMR 9221 [LEM]
Centre d'Etudes des Politiques Economiques [EPEE]

Publication date :

2016-02

English keyword(s) :

infinite horizon
general equilibrium
land bubble
housing bubble

HAL domain(s) :

Sciences de l'Homme et Société/Economies et finances

English abstract : [en]

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 ...
Show more >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.Show less >

Language :

Anglais

Popular science :

Non

Comment :

URL des Documents de travail : http://ces.univ-paris1.fr/cesdp/cesdp2016.html

Collections :