Publicação
Equilibrium asset prices and bubbles in a continuous time OLG model
| dc.contributor.author | Brito, Paulo | |
| dc.date.accessioned | 2024-03-20T10:00:34Z | |
| dc.date.available | 2024-03-20T10:00:34Z | |
| dc.date.issued | 2008 | |
| dc.description.abstract | In a Yaari-Blanchard overlapping generations endowment economy, and drawing on the equivalence between Radner (R) and Arrow-Debreu (AD) equilibria, we prove that equilibrium AD prices have an explicit representation as a double integral equation. This allows for an analytic characterization of the relationship between life-cycle and cohort heterogeneity and asset prices. For a simple distribution, we prove that bubbles may exist, and derive conditions for ruling them out. | pt_PT |
| dc.description.version | info:eu-repo/semantics/publishedVersion | pt_PT |
| dc.identifier.citation | Brito, Paulo .(2008). “Equilibrium asset prices and bubbles in a continuous time OLG model”. MPRA - Working Paper No. 10701. 2008. (Search PDF in 2024). | pt_PT |
| dc.identifier.uri | http://hdl.handle.net/10400.5/30456 | |
| dc.language.iso | eng | pt_PT |
| dc.publisher | MPRA - Munich Personal RePEc Archive | pt_PT |
| dc.relation.ispartofseries | MPRA Working Paper No. 10701. 2008; | |
| dc.subject | Overlapping Generations | pt_PT |
| dc.subject | Asset Pricing | pt_PT |
| dc.subject | Bubbles | pt_PT |
| dc.subject | Integral Equations | pt_PT |
| dc.title | Equilibrium asset prices and bubbles in a continuous time OLG model | pt_PT |
| dc.type | working paper | |
| dspace.entity.type | Publication | |
| rcaap.rights | openAccess | pt_PT |
| rcaap.type | workingPaper | pt_PT |