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2014•Munich Personal RePEc Archive (Ludwig Maximilian University of Munich)Open access

Asset Bubbles in an Overlapping Generations Model with Endogenous Labor Supply

Lisi Shi, Richard M. H. Suen

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Abstract

This paper examines the effects of asset bubbles in an overlapping generations model with endogenous labor supply. We derive a set of conditions under which asset bubbles will lead to an expansion in steady-state capital, investment, employment and output. We also provide a specific numerical example to illustrate these results.

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This paper examines the effects of asset bubbles in an overlapping generations model with endogenous labor supply. We derive a set of conditions under which asset bubbles will lead to an expansion in steady-state capital, investment, employment and output. We also provide a specific numerical example to illustrate these results.

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Available abstract

This paper examines the effects of asset bubbles in an overlapping generations model with endogenous labor supply. We derive a set of conditions under which asset bubbles will lead to an expansion in steady-state capital, investment, employment and output. We also provide a specific numerical example to illustrate these results.

Key concepts: Overlapping generations model, Asset (computer security), Economics, Investment (military), Capital (architecture), Capital accumulation, Microeconomics, Monetary economics

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