Brito, Paulo2024-03-202024-03-202008Brito, Paulo .(2008). “Equilibrium asset prices and bubbles in a continuous time OLG model”. MPRA - Working Paper No. 10701. 2008. (Search PDF in 2024).http://hdl.handle.net/10400.5/30456In 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.engOverlapping GenerationsAsset PricingBubblesIntegral Equationsworking paper