Cass transversality condition and sequential asset bubbles

DOI10.1007/S00199-004-0502-8zbMath1112.91008OpenAlexW2048417784MaRDI QIDQ1762759

Luigi Montrucchio

Publication date: 11 February 2005

Published in: Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1007/s00199-004-0502-8

zbMATH Keywords

transversality conditionsCass random seriesinfinite-horizon stochastic economiessequential asset marketsshort/long-run equilibriaSolow modelsvaluation bubbles for long-lived assets

Mathematics Subject Classification ID

Economic growth models (91B62) Stochastic games, stochastic differential games (91A15)

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Real indeterminacy and dynamics of asset price bubbles in general equilibrium ⋮ Intertemporal equilibrium with financial asset and physical capital ⋮ A simple optimality-based no-bubble theorem for deterministic sequential economies with strictly monotone preferences ⋮ Asset bubbles and efficiency in a generalized two-sector model ⋮ Ascendant altruism and asset price bubbles ⋮ Bubble economics ⋮ Intertemporal equilibrium with physical capital and financial asset: role of dividend taxation ⋮ An approach to the absence of price bubbles through state-price deflators ⋮ On the positive fundamental value of money with short-sale constraints ⋮ Financial bubbles and capital accumulation in altruistic economies ⋮ Intertemporal equilibrium with heterogeneous agents, endogenous dividends and collateral constraints ⋮ A note on almost sure uniform and complete convergences of a sequence of random variables ⋮ Arbitrage Theory with State-Price Deflators

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