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Autre Publication Scientifique Année : 2014

Intertemporal equilibrium with financial asset and physical capital

Résumé

We build an infinite-horizon dynamic deterministic general equilibrium model with imperfect markets (because of borrowing constraints), in which heterogeneous agents invest in capital or/and financial asset, and consume. There is a representative firm who maximizes its profit. Firstly, the existence of intertemporal equilibrium is proved even if aggregate capital is not uniformly bounded. Secondly, we study the interaction between the financial market and the productive sector. We also explore the nature of physical capital bubble and financial asset bubble as well.
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Dates et versions

halshs-01147470 , version 1 (30-04-2015)
halshs-01147470 , version 2 (19-05-2015)

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  • HAL Id : halshs-01147470 , version 2

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Cuong Le Van, Ngoc-Sang Pham. Intertemporal equilibrium with financial asset and physical capital. 2014. ⟨halshs-01147470v2⟩
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