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Ascendant altruism and asset price bubbles

Author

Listed:
  • Stefano Bosi

    (EPEE - Centre d'Etudes des Politiques Economiques - UEVE - Université d'Évry-Val-d'Essonne - Université Paris-Saclay)

  • Thai Ha-Huy

    (EPEE - Centre d'Etudes des Politiques Economiques - UEVE - Université d'Évry-Val-d'Essonne - Université Paris-Saclay)

  • Cao‐tung Pham

    (EPEE - Centre d'Etudes des Politiques Economiques - UEVE - Université d'Évry-Val-d'Essonne - Université Paris-Saclay)

  • Ngoc‐sang Pham

    (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School)

Abstract

We consider an overlapping generations economy with altruism towards parents and a long-lived asset that delivers no dividends (pure bubble asset). We explore the role of ascendant altruism on the dynamics properties of equilibrium and rational bubbles in the cases of exogenous and endogenous growths.

Suggested Citation

  • Stefano Bosi & Thai Ha-Huy & Cao‐tung Pham & Ngoc‐sang Pham, 2021. "Ascendant altruism and asset price bubbles," Post-Print halshs-03409931, HAL.
    • Handle: RePEc:hal:journl:halshs-03409931
    DOI: 10.1111/ijet.12330
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-03409931v1
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    References listed on IDEAS

    as
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