On the dynamics of stock price bubbles
- Author(s)
- Gerhard Sorger
- Abstract
We consider the model by Miao and Wang (Am Econ Rev 108:2590-2628, 2018), in which endogenous collateral constraints may generate stock price bubbles. Whereas Miao and Wang (2018) characterize the local dynamics around stationary equilibria only under the assumption of risk neutral households, we extend this characterization to the case of risk aversion.
- Organisation(s)
- Department of Economics
- Journal
- Central European Journal of Operations Research
- Volume
- 28
- Pages
- 521-537
- No. of pages
- 17
- ISSN
- 1435-246X
- DOI
- https://doi.org/10.1007/s10100-019-00650-z
- Publication date
- 06-2020
- Peer reviewed
- Yes
- Austrian Fields of Science 2012
- 502047 Economic theory
- Keywords
- ASJC Scopus subject areas
- Management Science and Operations Research
- Portal url
- https://ucris.univie.ac.at/portal/en/publications/on-the-dynamics-of-stock-price-bubbles(56c7b81d-e2b5-48a1-b451-3738836b4305).html