Existence of Solutions and Asset Pricing Bubbles in General Equilibrium Models

Topics:
Investment and Capital Markets
Tags:
Asset,
Asset Management,
Asset Price,
Asset Pricing,
Bubble,
Business Operations,
Operational Planning
Source:
International Centre for Economic Research

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Overview: This paper analyses the problem represented by the presence of speculative bubbles on asset prices in general equilibrium models. The main results concerning the existence of solutions in inter-temporal general equilibrium models are summarized, and then the specific problem of asset pricing is discussed. In particular, the theoretical results concerning the existence of speculative bubbles on asset prices are presented, together with the results that can be obtained through a new approach, based on Euler equations.

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Format: PDF | Size: 551KB | Date: Jan 2003 | Pages: 56

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