On the existence and prevention of asset price bubbles
We develop a model of rational bubbles based on the assumptions of unknown market liquidity and limited liability of traders. In a bubble, the price of an asset rises dynamically above its steady-state value, justified by rational expectations about future price developments. The larger the expected...
Gespeichert in:
| Hauptverfasser: | , |
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| Dokumenttyp: | Buch/Monographie Arbeitspapier |
| Sprache: | Englisch |
| Veröffentlicht: |
Bonn
Max Planck Inst. for Research on Collective Goods
2010
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| Schriftenreihe: | Preprints of the Max Planck Institute for Research on Collective Goods
2010,44 |
| In: |
Preprints of the Max Planck Institute for Research on Collective Goods (2010,44)
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| Schlagworte: | |
| Online-Zugang: | Verlag, Volltext: http://www.coll.mpg.de/?q=node/2559 Verlag, Volltext: http://www.coll.mpg.de/pdf_dat/2010_44online.pdf Download aus dem Internet, Stand 02.12.2010, Volltext: http://hdl.handle.net/10419/57494 
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| Verfasserangaben: | Zeno Enders; Hendrik Hakenes |
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