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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, Université Paris-Saclay)

  • Cao‐tung Pham
  • Ngoc‐sang Pham

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," Working Papers halshs-03409931, HAL.
    • Handle: RePEc:hal:wpaper: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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    More about this item

    Keywords

    Overlapping generations; Ascendant altruism; Capital accumulation; Growth; Rational bubbles;
    All these keywords.

    JEL classification:

    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)

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