Cass transversality condition and sequential asset bubbles

DOI10.1007/S00199-004-0502-8MaRDI QIDQ1762759zbMATH OpenOpenAlexFDO

Authors 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

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

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Cited in

(13)

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

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