{"title":"Ascendant altruism and asset price bubbles","authors":"Stefano Bosi, Thai Ha-Huy, Cao-Tung Pham, Ngoc-Sang Pham","doi":"10.1111/ijet.12330","DOIUrl":null,"url":null,"abstract":"<p>We consider an overlapping generations economy with altruism toward parents and a long-lived asset that delivers no dividends (pure bubble asset). We explore the role of ascendant altruism on the dynamic properties of equilibrium and rational bubbles in the cases of exogenous and endogenous growth.</p>","PeriodicalId":44551,"journal":{"name":"International Journal of Economic Theory","volume":"18 4","pages":"532-551"},"PeriodicalIF":0.5000,"publicationDate":"2021-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Economic Theory","FirstCategoryId":"96","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/ijet.12330","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"ECONOMICS","Score":null,"Total":0}
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Abstract
We consider an overlapping generations economy with altruism toward parents and a long-lived asset that delivers no dividends (pure bubble asset). We explore the role of ascendant altruism on the dynamic properties of equilibrium and rational bubbles in the cases of exogenous and endogenous growth.
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