Asset Bubbles in an Overlapping Generations Model with Endogenous Labor Supply
This paper examines the e¤ects of asset bubbles in an overlapping generations model with endogenous labor supply. We show analytically that asset bubbles can lead to an expansion in steady-state capital, investment, employment and output under certain conditions. The analytical results are followed by a speci c numerical example.
|Date of creation:||Jan 2014|
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