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Asset bubbles in an overlapping generations model with endogenous labor supply
- Shi, Lisi, Suen, Richard M.H.
- Economics letters 2014 v.123 no.2 pp. 164-167
- assets, bubbles, capital, employment, labor, models
- This paper examines the effects of asset bubbles in an overlapping generations model with endogenous labor supply. We show analytically that asset bubbles can lead to an expansion in steady-state capital, investment, employment and output under certain conditions.